Nigeria’s diaspora, estimated at up to 15 million people worldwide, plays a crucial role in driving growth and progress in the country. As Nigeria emerges from recession, civic and business leaders are looking to leverage the diaspora in order to mobilise development resources. Recognising the importance of diaspora engagement, the Government of Nigeria has recently established the Office of the Senior Special Adviser to the President on Foreign Affairs and Diaspora and is currently drafting a National Policy on Diaspora Matters.
In July 2017, DFID’s Policy Development Facility (PDF II) commissioned Dalberg Advisors to conduct a study on behalf of the Office of the Vice President (OVP), the Nigerian Investment Promotion Commission (NIPC), and Ministry of Foreign Affairs (MFA) to support ongoing efforts to spur development through diaspora engagement. This study, titled “Nigeria Diaspora Study: Opportunities for Increasing the Development Impact of Nigeria’s Diaspora,” aimed to understand the potential to engage the diaspora in order to generate productive investments and resources for development in Nigeria. The study focused primarily on two areas: remittances from the diaspora to Nigeria and direct investments into Nigeria made by the diaspora. It explored the purpose of current diaspora remittances, the diaspora’s ability to make investment remittances and/or switch between consumption and investment remittance, the willingness of diasporans to invest in Nigeria, the challenges they face in investing in Nigeria, and potential solutions to those challenges. For more information, please visit www.pdfnigeria.org/nigeria-diaspora-study/.PDF II hosted an event on November 13, 2018, in Lagos, to disseminate the findings and promote recommendations of the study to a wider group of stakeholders in the private sector—especially financial service providers, investment and equity firms, and key public sector actors and representatives of Nigerians in the diaspora. The focus of the session was to identify gaps for future studies on diaspora remittances and their use, and to encourage private sector financial services providers to identify, design, and package new investment products for Nigeria’s diaspora. Please click on the link here to access the full report https://www.pdfnigeria.org/wp-content/uploads/2019/01/181218-Nigeria-Diaspora-Study-Final.pdf