By Omoyeni Ojeifo
The Federal Government plans to channel over $20 billion in diaspora remittances into productive investments—creating new factories, businesses, and jobs—through the Nigeria Diaspora Investment Economic Conference (NIDEC 2026).
The Minister of State for Foreign Affairs, Amb. Sola Enikanolaiye, disclosed the plan in Abuja before departing for Toronto, Canada.
The announcement came in a statement on Tuesday signed by his Special Adviser on Digital Media and Public Diplomacy, Raphael Oni, and emailed to PersecondNews.
“We have over $20 billion coming into Nigeria from our diaspora, and our responsibility now is to convert that goodwill into equity, factories and businesses that employ Nigerians and contribute directly to our economy,” he said.
Enikanolaiye confirmed that NIDEC 2026 would connect investment-ready Nigerian projects with high-net-worth Nigerians in the diaspora, while providing opportunities to address barriers discouraging diaspora investment.
“NIDEC is designed to connect investment-ready Nigerian projects with investors in the diaspora, while government addresses the bottlenecks that have discouraged Nigerians abroad from bringing their capital back home.”
According to the Minister, the conference forms part of President Bola Ahmed Tinubu’s 4Ds Foreign Policy Agenda of Demography, Development, Democracy and Diaspora, with economic diplomacy expected to deliver measurable results.
He also said:“This administration does not travel for jamborees. We travel for results. NIDEC 2026 is a deal room for Nigeria’s growth, and we are going to Toronto to pursue investments that will deliver tangible outcomes.”
Enikanolaiye noted that the inclusion of the Central Bank of Nigeria, NIPC, NEPC and Nigeria Revenue Service would strengthen Nigeria’s pitch for diaspora capital, export expansion and remittance-backed investment opportunities.
The Minister added that the government expects increased investment to generate foreign exchange and support businesses capable of creating employment, while expanding economic opportunities for Nigerians.
Five governors from Anambra, Borno, Kaduna, Plateau and Zamfara states are also part of the delegation and are expected to court investors for projects in infrastructure, agriculture, technology and mining.
Enikanolaiye said the participation of the governors would broaden investment opportunities beyond Abuja by allowing sub-national governments to directly present viable projects to potential investors.
He explained that the participation of NITDA Director-General, Kashifu Inuwa, would also support Nigeria’s pursuit of partnerships in digital innovation, fintech and information technology capacity building.
The Minister called for stronger Nigeria-Canada trade relations, especially with senior Canadian officials and Ontario ministers expected to engage the Nigerian delegation on trade, SMEs and market access.
He said Nigeria would seek new trade agreements, SME partnerships and greater access for Nigerian products to the North American market during the Toronto engagements.
Enikanolaiye added that NIDEC would strengthen government-diaspora trust by connecting Nigerians abroad with investment opportunities and addressing bottlenecks affecting those seeking to invest in Nigeria.
NIDEC 2026, themed “Invest Nigeria, Thrive Abroad,” will hold from August 12 to 15, 2026, in Toronto, Canada.
The four-day conference is organised by the Nigerians in Diaspora Commission (NiDCOM) in collaboration with the Nigerian High Commission in Ottawa and the Canadian High Commission in Abuja.
The Ministry of Foreign Affairs said the conference would serve as a bridge linking global capital with bankable projects in Nigeria.
Author
Leave a comment