Tinubu Challenges Nigerians Abroad: “Move Beyond Sending Money Back Home

President Bola Ahmed Tinubu has called on Nigerians living abroad to go beyond sending money to their families and begin taking a more active role in investing in and developing Nigeria’s economy.

The President made the call while declaring open the three-day Nigeria Diaspora Economic Conference (NIDEC) 2026, held at the Apollo Convention Centre in Toronto, Canada.

Represented by his Chief of Staff, Femi Gbajabiamila, Tinubu described Nigerians in the diaspora as evidence of the ability of Nigerians to compete successfully on the global stage.

The conference, themed “Thrive Abroad, Invest in Nigeria,” was organised by the Nigerians in Diaspora Commission (NiDCOM), led by its Chairman and CEO, Abike Dabiri-Erewa. Tinubu commended Dabiri-Erewa and her team for organising what he described as the first conference of its kind.

According to the President, the growing economic influence of Nigerians abroad gives them a stronger voice in national affairs. He suggested that issues such as diaspora voting could gain greater attention as their economic influence continues to expand.

Addressing hundreds of Nigerians and other stakeholders at the event, Tinubu assured the diaspora community that Nigeria recognises, values and needs their contributions.

He acknowledged that investors typically consider economic growth, political stability and security when deciding where to commit their resources, arguing that Nigeria’s recent economic indicators point to a country undergoing genuine recovery.

Tinubu cited 3.89 per cent real GDP growth in the first quarter of 2026, a 3.29 per cent expansion in manufacturing, a decline in inflation to 15.91 per cent, and foreign reserves of $45.4 billion at the end of 2025.

He also noted that the International Monetary Fund had projected Nigeria’s economy to grow by 4.1 per cent in 2026, attributing the improved macroeconomic outlook and resilience to reforms implemented by his administration over the past three years.

The President added that the World Bank had also recognised progress in restoring macroeconomic stability, improving Nigeria’s external and fiscal position and maintaining economic growth.

On domestic reforms, Tinubu highlighted the new tax system, which he said was designed to simplify compliance and reduce pressure on low-income earners and small businesses.

He also disclosed that the Bank of Industry recorded its highest annual financing volume in 2025, providing ₦636 billion in financing to businesses across the country.

According to Tinubu, the Federal Government is also continuing investments in critical sectors, including roads, railways, ports, electricity, digital infrastructure, healthcare, housing and agricultural value chains.

While acknowledging the importance of diaspora remittances, the President said their role should expand beyond supporting families and small businesses.

He said remittances, which help millions of Nigerians pay school fees, medical expenses and run small businesses, should now serve as “the floor of diaspora engagement rather than its ceiling.”

Tinubu urged Nigerians abroad to direct more capital into sectors such as agro-processing, healthcare, technology, energy, housing, logistics, mining, education, creative industries and export manufacturing.

He also encouraged diaspora Nigerians to move away from isolated, personality-driven investments and instead establish professionally managed investment clubs, sector funds, co-investment vehicles and venture networks.

The President advised potential investors to pool their resources, demand audited financial statements, insist on proper corporate governance and conduct thorough due diligence with the help of credible professional advisers.

He said the government, on its part, has a responsibility to provide Nigerians abroad with predictable regulations, transparent project pipelines, efficient consular services and stronger protection against fraud.

Tinubu pointed to initiatives such as the Non-Resident Nigerian Ordinary Account, Non-Resident Nigerian Investment Account and Non-Resident Bank Verification Number as measures designed to make it easier for Nigerians abroad to participate in the country’s financial system.

The President also acknowledged the difficulties some Nigerians encounter while living and working abroad, describing what he called an “invisible ceiling” that can limit their advancement in foreign systems regardless of their talent.

However, he argued that such limitations should not apply to Nigerians who choose to invest in their home country, insisting that the opportunities in Nigeria are potentially limitless.

As Nigeria approaches the 2027 general election cycle, Tinubu further appealed for national unity, stressing that political competition is a normal feature of democracy but should never be allowed to undermine the country’s peace and stability.