Tinubu: Turn Remittances Into Investments

Amarachi Ihesiulo

August 14, 2026
5 min read
President Bola Ahmed Tinubu

President Bola Ahmed Tinubu has urged Nigerians living abroad to move beyond sending remittances home and begin investing more directly in Nigeria’s productive sectors to accelerate economic growth and national development.

Tinubu made the call on Friday while declaring open the three-day Nigeria Diaspora Economic Conference (NIDEC) 2026 at the Apollo Convention Centre in Toronto, Canada, where he described the Nigerian diaspora as a critical economic force capable of contributing significantly to the country’s transformation.

Represented by his Chief of Staff, Femi Gbajabiamila, the President said the conference, themed **“Thrive Abroad, Invest in Nigeria,”** provided an important platform for connecting Nigerian professionals, entrepreneurs, investors and government with opportunities at home.

He commended the Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, and her team for convening what he described as the first-ever conference focused specifically on harnessing the economic power of Nigerians in the diaspora.

“Nigeria sees you. Nigeria values you. Nigeria needs you,” Tinubu told hundreds of Nigerians and other stakeholders gathered for the event.

The President said remittances from Nigerians abroad had played an invaluable role in supporting millions of households through school fees, medical expenses and small businesses, but argued that remittances should become “the floor” rather than “the ceiling” of diaspora engagement with Nigeria.

He urged Nigerians abroad to channel more capital into agro-processing, healthcare, technology, energy, housing, logistics, mining, education, creative industries and export manufacturing.

Tinubu also encouraged diaspora investors to move away from scattered and personality-driven transactions towards professionally governed investment clubs, sector funds, co-investment vehicles and venture networks.

He advised prospective investors to pool resources, demand audited accounts, insist on sound corporate governance and conduct proper due diligence with credible professional advisers.

The President said the Federal Government was working to create an environment that would give diaspora investors greater confidence, citing predictable regulations, transparent project pipelines, improved consular services and stronger protection against fraud as areas requiring sustained attention.

He also highlighted the Non-Resident Nigerian Ordinary Account, Non-Resident Nigerian Investment Account and Non-Resident Bank Verification Number as instruments designed to ease the participation of Nigerians abroad in the domestic financial system.

Tinubu said Nigeria’s economic indicators were pointing towards recovery, citing real GDP growth of 3.89 per cent in the first quarter of 2026, manufacturing growth of 3.29 per cent and a decline in inflation to 15.91 per cent.

He added that foreign reserves closed 2025 at $45.4 billion, while the International Monetary Fund projected Nigeria’s economy to grow by 4.1 per cent in 2026.

The President attributed the improving macroeconomic outlook to reforms undertaken by his administration over the past three years, saying the World Bank had also acknowledged progress in restoring macroeconomic stability and strengthening Nigeria’s external and fiscal position.

He further pointed to the government’s tax reforms, infrastructure investments and financing interventions as measures aimed at creating a more investment-friendly economy.

According to him, the Bank of Industry recorded its highest annual financing volume in 2025, disbursing ₦636 billion to businesses across Nigeria.

He said the government was also investing in roads, railways, ports, power, digital connectivity, healthcare, housing and agricultural value chains.

Tinubu urged Nigerians in the diaspora to see Nigeria not only as their ancestral home but as an investment destination with opportunities capable of generating returns while supporting national development.

He acknowledged the frustrations some Nigerians face while building careers abroad, but maintained that the country offered significant opportunities for those willing to invest strategically.

The President also appealed for national unity ahead of the 2027 general elections, stressing that political competition must not be allowed to undermine Nigeria’s stability.

Earlier, Dabiri-Erewa said NIDEC 2026 was designed to deepen engagement with the Nigerian diaspora and harness their expertise, networks and financial resources for accelerated national development.

She urged Nigerians abroad to change their perception of Nigeria from simply being home to also viewing the country as a destination for serious investment.

Anambra State Governor Charles Soludo commended Tinubu’s economic reforms, saying they could help Nigeria attract investment and compete more effectively for global capital.

Zamfara State Governor Dauda Lawal said the conference offered his administration an opportunity to position the state for emerging investment opportunities and attract direct investment.

The Minister of Industry, Trade and Investment, Jumoke Oduwole, also urged participants to move from discussions to actual investments, declaring that the time for increased diaspora investment in Nigeria was now.

The conference, organised by NiDCOM in collaboration with national and international stakeholders, brought together investors, business leaders, government officials and Nigerians in the diaspora.

Other participants included the Minister of Interior, Olubunmi Tunji-Ojo; Minister of Foreign Affairs, Sola Enikanolaiye; Executive Chairman of the Nigeria Revenue Service, Zach Adedeji; Executive Secretary and CEO of the Nigerian Investment Promotion Commission, Aisha Rimi; Director-General of the Nigerian Export Promotion Council, Nonye Ayeni; Director-General of SMEDAN, Charles Odii; and Director-General of the National Orientation Agency, Lanre Issa-Onilu.

The Canadian delegation was led by Ontario Minister of Citizenship and Multiculturalism, Graham McGregor.

The conference also featured panel discussions, a fireside chat and investor pitching sessions aimed at converting diaspora interest into concrete investment opportunities across various sectors of the Nigerian economy.