The Federal Government, through the Nigerians in Diaspora Commission, alongside leading banks and private sector investors, has launched a fresh push to harness over $20bn in annual diaspora remittances to drive national economic growth.

According to a statement made available to The PUNCH on Monday, NiDCOM is to hold the eighth Nigerian Diaspora Investment Summit in conjunction with the Nigerian Diaspora Summit Initiative as part of efforts to channel the $20bn diaspora inflows into productive investments that will spur national development.

The statement noted that the summit, scheduled to be held from 11 to 13 November 2025, at the State House, Abuja, is themed ‘Fast Tracking Regional & National Development by Mobilising Diaspora Investment’.

It seeks to convert diaspora wealth, skills, and innovation into ventures that contribute to Nigeria’s economic transformation.

The statement said the NDIS 2025, billed as a hybrid event, would bring together diaspora investors, business leaders, and policymakers to explore investment-ready projects across key sectors, including energy, real estate, finance, and technology.

It will feature keynote sessions, investment pitches, exhibitions, and high-level networking opportunities.

President Bola Tinubu is expected to attend as Special Guest of Honour, while the Chairman/Chief Executive Officer of NiDCOM, Dr Abike Dabiri-Erewa, will serve as Chief Host.

The statement quoted Dabiri-Erewa as saying that the NDIS has evolved into a catalyst for building transformative partnerships between Nigeria and its global citizens.

“The Nigerian Diaspora Investment Summit continues to connect our diaspora to tangible investment prospects and sustainable partnerships that create jobs, drive innovation, and foster national development,” she said.

To underscore the summit’s economic significance, the keynote address will be delivered by former Minister of Power and Chairman of Geometric Power Limited, Professor Bartholomew Nnaji, while the Group Managing Director/CEO of the Nigerian Exchange Group, Mr Temi Popoola, will speak on innovative investment frameworks for emerging markets.

The statement added Zenith Bank Plc is the event partner, supported by First Bank of Nigeria Limited, AG Mortgage Bank Plc, and Rainbow Heritage Group.

Group Managing Director/CEO of Zenith Bank, Dr Adaora Umeoji, reaffirmed the bank’s commitment to diaspora-led growth.

“Our sponsorship of NDIS 2025 underscores our unwavering commitment to the Nigerian diaspora as key partners in national development. We recognise their immense contributions through remittances, investments, and innovation,” she said.

Similarly, FirstBank’s Managing Director/CEO, Mr Olusegun Alebiosu, was quoted as saying the bank remains steadfast in providing the diaspora community with secure and innovative investment options.

“As Nigeria’s foremost financial institution, FirstBank remains the trailblazer in providing the diaspora with viable options for wealth creation through our partnerships with over 17 international money transfer operators and our home-grown remittance platform, First Global Transfer,” he said.

The statement further noted that Rainbow Heritage Group’s collaboration with NDIS aligns with its mission to build sustainable communities for Nigerians at home and abroad.

“Our flagship project, The New Port City, is designed to be a smart, functional, and future-ready city—a true centre of excellence where everything works,” the group stated.

Also quoted was the Managing Director/CEO of AG Mortgage Bank Plc, Mr Ngozi Anyogu, who emphasised the need to channel diaspora remittances into tangible local investments.

“Over 17 million Nigerians abroad remit more than $20 billion annually. The challenge now is how to make these remittances drive local economic growth, which is what AGMB is focused on through tailored financial solutions for diaspora Nigerians,” he said.

The Summit Coordinator, Badewa Adejugbe-Williams, was also quoted as saying that the 2024 edition of the summit attracted N673m in diaspora investment commitments and channelled N500m into local businesses and service providers.

“NDIS 2024 proved the power of structured diaspora engagement,” she said. “Videographers, hotels, catering services, printers, and other local firms benefited directly from the summit’s value chain”.

According to the statement, one of the beneficiaries, Joshua Samuel, Creative Director of Abuja-based Artestify Multimedia, attested to the summit’s impact.

“We’ve leveraged NDIS to expand our network, secure investor support, and grow our business significantly,” he said.