President Bola Ahmed Tinubu has urged Nigerians living abroad to channel more of their capital, expertise and international networks into productive investments in Nigeria, saying diaspora engagement must move beyond remittances to become a major driver of national development.
The President made the call in a keynote address delivered on his behalf by his Chief of Staff, Rt. Hon. Femi Gbajabiamila, at the 2026 Nigeria Diaspora Economic Conference (NIDEC) held at the Apollo Convention Centre in Toronto, Canada.
The conference, which runs from August 13 to 15, is themed, “Thrive Abroad, Invest Nigeria.”
Tinubu said the theme captured the need for Nigerians to succeed wherever they live while ensuring that their achievements abroad contribute to Nigeria’s economic growth.
He described Nigerians in the diaspora as an important national asset, noting that their accomplishments in medicine, technology, academia, entrepreneurship, public service and the arts demonstrated the capacity of Nigerians to compete globally.
According to him, diaspora prosperity should not be separated from Nigeria’s progress, but should instead become one of the country’s strongest engines of development.
The President said Nigeria’s economic transformation under his administration was anchored on the Renewed Hope Agenda, which seeks to build a productive, competitive and inclusive economy capable of attracting investment and creating opportunities.
He noted that the administration inherited significant economic challenges, including an expensive fuel subsidy regime, multiple foreign exchange windows, weak public revenues and heavy debt-servicing pressures.
Tinubu said his administration chose to undertake difficult reforms rather than postpone the challenges, acknowledging that the transition had imposed hardship on households and businesses.
“President Tinubu chose a different course. He chose reform over postponement, candour over pretence and long-term national strength over short-term applause,” he said.
The President said early indicators suggested that the reforms were beginning to strengthen the economy, citing real GDP growth of 3.89 per cent in the first quarter of 2026, manufacturing growth of 3.29 per cent and the non-oil sector’s contribution of more than 96 per cent to economic output.
He also noted that inflation had eased to 15.91 per cent, while Nigeria ended 2025 with foreign reserves of $45.4 billion, alongside improved exchange-rate stability and sustained trade surpluses.
Tinubu said international institutions, including the International Monetary Fund and World Bank, had also acknowledged improvements in Nigeria’s macroeconomic stability, external position and economic resilience.
He, however, stressed that the gains did not mean the country’s economic challenges had been completely resolved.
“Macroeconomic figures do not feed a child by themselves, but they are important because they restore the capacity to create jobs, finance public services and support households sustainably,” he said.
The President further disclosed that the administration was implementing reforms in taxation and expanding investment in infrastructure, including roads, rail, ports, power, digital connectivity, healthcare, housing and agricultural value chains.
He said the next phase of the reforms would focus on accelerating productivity, creating more jobs, lowering living costs, strengthening local industries and ensuring that the benefits of economic growth reached more Nigerians.
On diaspora contributions, Tinubu acknowledged the role Nigerians abroad had played through remittances, saying they had helped millions of families pay school fees, medical bills, build homes and sustain businesses.
He, however, urged Nigerians in the diaspora to move beyond remittances and embrace productive investments.
“Remittances sustain consumption. Investment expands production. Expertise builds institutions. Networks open markets. Nigeria now needs all four,” he said.
The President encouraged diaspora investors to explore opportunities in agro-processing, healthcare, technology, energy, housing, logistics, mining, education, creative industries and export manufacturing.
He also urged them to use Nigeria as a platform for accessing the wider African market under the African Continental Free Trade Area.
Tinubu called for the creation of professionally managed diaspora investment clubs, sector funds, co-investment vehicles and venture networks to pool resources and promote long-term investments.
He advised investors to insist on audited accounts, proper governance, due diligence and credible professional advice before committing funds.
The President also highlighted the importance of intellectual capital, saying Nigerians abroad could contribute significantly through mentorship, research partnerships, institutional development and professional expertise.
He urged diaspora professionals to teach masterclasses, mentor Nigerian entrepreneurs, support universities, strengthen healthcare institutions, open foreign markets to Nigerian products and transfer international standards and systems.
“The question should not only be, ‘How much did I send?’ It should also be, ‘What capability did I help Nigeria build?’” he said.
Tinubu assured Nigerians in the diaspora that government would continue working to create an environment conducive to investment by providing predictable rules, transparent project pipelines, credible counterparties, efficient consular services, stronger property rights and faster dispute resolution.
He cited the Non-Resident Nigerian Ordinary Account, Non-Resident Nigerian Investment Account and non-resident Bank Verification Number as steps toward making it easier for Nigerians abroad to participate in the Nigerian financial system.
The President also called for a broader interpretation of the “Nigeria First” and “Local Content” policies to accommodate Nigerians in the diaspora who invest in the country.
He said diaspora Nigerians should be recognised as partners in national development and not merely as sources of remittances.
Tinubu also appealed to Nigerians abroad to protect the country’s image while engaging in constructive criticism.
He said criticism of government policies was legitimate in a democracy but urged diaspora Nigerians to ensure that such criticism remained factual, proportionate and focused on correcting identified shortcomings.
“Criticism that illuminates is patriotic. Falsehood that inflames is not,” he said.
As Nigeria approaches another period of political contestation, the President urged citizens to distinguish between political disagreements and the broader national interest.
He warned against supporting activities capable of undermining Nigeria’s peace, institutions and economic future, stressing that political differences should not become a justification for wishing the country to fail.
Tinubu said his administration remained committed to completing the economic reforms and consolidating the gains already recorded.
He urged the diaspora community to measure the outcome of the conference not by speeches or resolutions but by concrete actions, including funding businesses, strengthening institutions, mentoring young Nigerians, opening export routes and establishing research partnerships.
The President also emphasised Nigeria’s vast economic potential, citing its oil and mineral resources, arable land and large pool of human capital.
He argued that Nigerians who invest productively in the country could unlock opportunities that may be difficult to access abroad.
Tinubu concluded by calling on Nigerians everywhere to connect personal success with national development.
“The new phrase should now be that making Nigeria great is a task that must be done; for us to accomplish this task, diasporans have to play a major role,” he said.
He urged the diaspora to “thrive abroad” while investing in Nigeria, saying the country’s development would ultimately benefit Nigerians both at home and overseas.
“Speak of Nigeria with truth. Correct her with love. Build her with confidence,” the President said.
He added that the success of Nigeria would depend on the ability of capital to meet opportunity, expertise to meet need and criticism to be matched with meaningful contribution.