Nigerian Diaspora Reaches 2.1 Million, Remits $21 Billion In 2024, Says IOM.
The Nigerian diaspora has grown to an estimated 2.1 million people, with remittances reaching a remarkable $21 billion in 2024, according to the latest annual report from the International Organisation for Migration (IOM) Nigeria. This substantial contribution highlights the critical role Nigerians abroad play in supporting the nation’s economy.
The report emphasises the growing impact of the diaspora, with the $21 billion in remittances serving as a vital economic lifeline for Nigeria. These funds, sent by Nigerians living worldwide, support households, education, healthcare, and various sectors, helping to mitigate economic challenges. The figure reflects an 8.9% increase from the previous year, as reported by the Central Bank of Nigeria, and accounts for nearly 37% of Sub-Saharan Africa’s total remittances of $56 billion in 2024.
Sharon Dimanche, Chief of Mission for IOM Nigeria, praised the Nigerian diaspora for their resilience and innovation, describing them as “a catalyst for inclusive and sustainable development.” She noted that their contributions extend beyond financial support, with Nigerian professionals excelling in fields such as health, technology, education, and the arts while maintaining strong connections to their homeland. “The youth in the diaspora, innovative and digitally savvy, hold immense potential to drive entrepreneurship and technological advancement in Nigeria,” Dimanche added.
The report aligns with remarks from President Bola Tinubu, who, during the 2025 National Diaspora Day celebrations in Abuja, noted that diaspora remittances through official channels were four times the value of Nigeria’s foreign direct investment (FDI) in 2024. Represented by Senator George Akume, the Secretary to the Government of the Federation, Tinubu commended the Nigerians in Diaspora Commission (NiDCOM) for its initiatives, such as the Nigeria Diaspora Investment Summit and the Diaspora Mortgage Scheme, which strengthen diaspora engagement.
Abike Dabiri-Erewa, NiDCOM’s Chairperson, described the over 20 million Nigerians abroad as “barrier breakers and pacesetters” who make significant contributions to both Nigeria and their host countries. She highlighted the importance of celebrating their achievements, with the annual National Diaspora Day on 25 July serving as a key platform for recognition.
The IOM report further solidifies Nigeria’s position as a leader in African diaspora remittances, with the country accounting for 38% of the continent’s total inflows of $52.9 billion in 2024. These funds, combined with the diaspora’s expertise and global networks, position Nigeria to leverage substantial potential for national development.
