President Bola Ahmed Tinubu has called on Nigerians living abroad to move beyond remittances and become organised investors, mentors and business partners in the country’s economic transformation.
The appeal was delivered on the President’s behalf by his Chief of Staff, Rt. Hon. Femi Gbajabiamila, at the Nigeria Diaspora Economic Conference 2026 in Toronto.
The conference, held from August 13 to 15 at the Apollo Convention Centre, was organised around the theme, “Thrive Abroad, Invest Nigeria.”
Gbajabiamila said the theme reflected a strategic relationship between the prosperity of Nigerians overseas and Nigeria’s development at home.
He conveyed Tinubu’s message
that “Nigeria sees you, Nigeria values you, and Nigeria needs you” in the effort to build a more productive and inclusive economy.
From remittances to productive investment
The Chief of Staff acknowledged the vital role Nigerians abroad have played in supporting families and communities through remittances.
School fees, medical bills, housing projects and small businesses, he said, have benefited from money sent home by the diaspora.
However, he argued that remittances should represent only the beginning of diaspora engagement with Nigeria, rather than its endpoint.
While remittances support consumption, he said, investment creates production, expertise strengthens institutions and international networks open markets for Nigerian businesses.
Tinubu therefore urged Nigerians abroad to acquire “productive stakes” in the country by investing in sectors including agro-processing, healthcare, technology, energy, housing, logistics, mining, education, creative industries and export manufacturing.
He presented Nigeria as a platform for reaching the wider African market under the African Continental Free Trade Area.
Gbajabiamila also encouraged diaspora investors to pool their resources through professionally governed investment clubs, sector funds, venture networks and coinvestment vehicles.
Such structures, he said, should be supported by audited accounts, proper governance, due diligence and credible professional advice.
Government highlights reform and economic targets
The address defended the Tinubu administration’s economic reforms, including the removal of what it described as a costly and poorly targeted fuel subsidy and the unification of multiple foreign-exchange windows.
According to the speech, the reforms were intended to address weak public revenues, exchange-rate distortions and debt-servicing pressures that had constrained investment.
Gbajabiamila acknowledged that the transition had imposed significant pressure on households and businesses.
He said families had faced higher costs while companies had dealt with difficult operating conditions, but maintained that postponing reform would have deepened Nigeria’s long-term problems.
The administration’s stated objective is to build a US$1 trillion economy by 2030, a target the speech linked to the creation of jobs, infrastructure, skills and higher productivity.
The address cited several indicators as evidence that the economy was beginning to stabilise.
It said real gross domestic product grew by 3.89 per cent in first quarter of 2026, manufacturing expanded by 3.29 per cent and the non-oil economy accounted for more than 96 per cent of output.
It also placed the latest inflation reading at 15.91 per cent and said Nigeria ended 2025 with foreign reserves of US$45.4 billion, improved exchangerate stability and sustained trade surpluses.
The speech attributed additional support for the reform programme to projections and assessments by the International Monetary Fund and the World Bank, saying both institutions had recognised progress in macroeconomic stability, external balances, fiscal conditions and economic resilience.
Gbajabiamila stressed, however, that the figures did not mean Nigeria’s difficulties had been resolved.
The next phase of reform, he said, must focus on accelerating productivity, creating more jobs, reducing living costs, strengthening local industries and ensuring that economic gains become visible in people’s daily lives.
Call for skills and expertise
The address placed equal emphasis on non-financial contributions from the diaspora.
Gbajabiamila said Nigerians abroad possessed intellectual capacity, professional experience and international connections that could be as valuable as capital.
He urged diaspora professionals to teach masterclasses, mentor entrepreneurs, join the boards of credible businesses and non-profit organisations, establish university research partnerships, help hospitals meet international standards, connect Nigerian companies to Canadian markets, provide access to technology, financing and distribution networks.
“The question should not only be, ‘How much did I send?’” he said. “It should also be, ‘What capability did I help Nigeria build?’”.
Government promises a more predictable investment environment
Gbajabiamila said the government recognised that patriotic appeals could not replace sound investment protections.
To earn and maintain the confidence of Nigerians abroad, he said, govt must provide predictable rules, transparent project pipelines, credible counterparties, efficient consular services, stronger property rights, faster dispute resolution and protection from fraud and bureaucratic extortion.
He identified the Non-Resident Nigerian Ordinary Account, the Non-Resident Nigerian Investment Account and the non-resident Bank Verification Number as practical measures aimed at helping Nigerians overseas manage funds and participate more easily in Nigeria’s financial system.
He acknowledged that these initiatives were only a starting point and said more reforms would follow.
The speech also proposed broadening the definitions of “Nigeria First” and “Local Content” to include Nigerians in the diaspora who invest in the country.
Appeal for constructive political engagement
The address called on Nigerians abroad to use their influence responsibly as the country approaches another period of political competition.
Gbajabiamila said diaspora criticism of
government was legitimate and necessary in a democracy, but argued that it should be factual, proportionate and directed toward correcting problems.
He warned against supporting instability, economic sabotage or actions intended to impoverish Nigerians for partisan purposes.
Elections, he said, would produce winners and losers, but “Nigeria must always win.”
The Chief of Staff portrayed Tinubu as a leader willing to spend political capital on difficult reforms and accept criticism in pursuit of long-term economic strength.
He said the President was prepared to adjust policies when evidence demanded it but would not return to what he described as a politics of postponement.
Conference urged to produce measurable commitments
Gbajabiamila challenged participants to judge the conference by commitments that emerge from it rather than by speeches, applause or a final communique.
He listed possible outcomes including funding an enterprise, strengthening an institution, mentoring a young Nigerian, opening an export route, establishing a research partnership or transforming a
community.
He concluded by calling for a renewed connection between personal success abroad and national purpose at home.
In his words, Nigeria’s progress would depend on capital meeting opportunity, expertise meeting need and criticism being matched by contribution.
“Thrive abroad. Invest Nigeria. Speak of Nigeria with truth. Correct her with love. Build her with confidence.”
The address ended with an appeal for stronger Nigeria-Canada relations and a broader national mission: making Nigeria great as a task that must be done, with the diaspora playing a central role.