The two-term Governor of Lagos State and immediately past Minister of Works and Housing, Babatunde Raji Fashola has revealed that the diaspora remittances from 2024 Detty December were equivalent to four per cent of Nigeria’s Gross Domestic Product (GDP).

Fashola urged Nigerians to tap into these developmental opportunities to gain scarce dollar liquidity and prepare earnestly for the forthcoming one later this year, a failure that could drive potential tourists to other nations.

The former Governor who spoke at the 55th convocation lecture of the University of Lagos (UNILAG) revealed the importance of leveraging the country’s Detty December phenomenon to drive economic growth.

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He noted that while Detty December has opened the doors and brought about positive changes, Nigerians are not seizing the opportunity enough, questioning why the event should end in Lagos

“If you use your search engine and enter Detty December, you will see an entry by Wikipedia, they’re already monitoring what’s happening. So you found out that in the month of December alone, remittances from the diaspora are already equivalent to four per cent of Nigeria’s GDP.

“All of the young men and women who came here from other parts of the world are reliving their experiences on social media, so there’s interest in a place called Lagos, Nigeria. And we can expand it. And it’s for us to be deliberate, and intentional and have a mandate around tourism.

“How many of us are ready to leave our homes, furnish them and rent them out during the period, because the demand will come and if we don’t respond, it’ll go somewhere else,” Fashola said.