Vice President Kashim Shettima has lauded Nigerians in the diaspora for their economic contributions. He said their remittances are strengthening Nigeria’s external position. He spoke at a diaspora town hall at Nigeria House in New York. “Your remittances are showing,” he told the gathering. Nigerians abroad remit about $20 billion annually. He described the inflows as larger than the economies of some African countries.
Diaspora remittances have become Nigeria’s largest source of foreign exchange after oil. Official remittances stood at about $20.93 billion in 2024. The figure has grown steadily over the past decade. The Central Bank of Nigeria has introduced incentives to channel remittances through formal routes. In 2023, it launched the RT200 programme. In 2024, it partnered with fintechs to reduce transfer costs. Remittances support household incomes. They also support the naira. Nigeria’s diaspora is highly educated. Migration Policy Institute analysis of 2024 US Census data found that 67% of Nigerian immigrants aged 25 and above hold at least a bachelor’s degree. Pew Research Centre reported Nigerian-born Black immigrants have the highest college-degree attainment among major Black immigrant groups.
Shettima cited improving foreign reserves as evidence of strengthening buffers. The latest CBN figures put gross external reserves at $55.25 billion. That is the highest level in about 18 years. He urged Nigerians abroad to deepen their participation in national development. He called for national unity. “What binds us together supersedes whatever divides us,” he said.
Shettima defended the administration’s handling of inherited challenges. He said Tinubu chose to confront problems rather than blame his predecessor. “He never makes excuses,” Shettima said. “He never made one negative remark against his predecessor.” He acknowledged ongoing difficulties. “We have challenges, but we never deny that,” he said. He cited economic progress. Real GDP grew 4.43% year-on-year in Q2 2026. He highlighted infrastructure projects including the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Superhighway. He praised Aliko Dangote for the Dangote Refinery.
Winners: The diaspora, which gains recognition. The Federal Government, which gains credibility. The naira, which benefits from remittances. Fintechs, which process transfers. Losers: Critics who see the town hall as propaganda. Households without diaspora connections. The economy, if remittances decline. The government, if economic progress does not reach citizens.
Bottom Line: Twenty billion dollars in remittances. Reserves at an 18-year high. GDP growth at 4.43%. The numbers are positive. Nigerians at home still face hardship. The diaspora is an asset. The government must turn remittances into development.