In a speech at the 10th Annual National Migration Dialogue in Abuja, Vice President Kashim Shettima celebrated the role of Nigerian migrants in contributing to the country’s development, both financially and in various sectors. He revealed that Nigerian startups founded by migrants attracted over $800 million in investments in 2022, a testament to the potential of the Nigerian diaspora in driving innovation and economic growth.
Shettima pointed out that Nigeria holds the highest share of diaspora remittances in West Africa, contributing a significant $21.9 billion in 2022. This amount represented 64% of the total remittances in the region, underscoring the immense economic value of Nigerians living abroad. Beyond financial contributions, Nigerian migrants have distinguished themselves as global ambassadors in fields such as technology, medicine, sports, and the creative arts.
“Migrants are not just crossing borders; they are shaping the global economy and contributing to the development of their home country,” Shettima said. He emphasized that migration has become a critical driver of both global and national growth, with Nigerians excelling internationally and bringing valuable expertise back to their homeland.
However, the Vice President also acknowledged the persistent challenges of irregular migration, which remains a pressing issue. He revealed that in 2024 alone, over 10,000 Nigerians were detained for migration-related offenses in various countries, particularly in Africa and Europe, and have since been deported. This reality highlights the vulnerabilities that migrants face and the importance of addressing these challenges while capitalizing on the positive impacts of migration.
In his address, Shettima also discussed Nigeria’s dual role as both a country of origin and destination for migrants, with over 1.3 million international migrants residing within Nigeria. This reflects the country’s growing importance as a migration hub, not just for Nigerians abroad, but for people from other African countries as well.
While Nigerian startups are still strong contributors to Africa’s startup ecosystem, the country lost its position as the top destination for investment in 2023, when Kenya overtook Nigeria. According to research from *Africa: The Big Deal*, Kenyan startups raised around $800 million in 2023, surpassing Nigeria for the first time. This shift in funding reflects broader trends in Africa’s startup landscape, where funding across the continent saw a 39% decline from the previous year. Despite this, Nigeria still remains a key player, with a substantial number of startups founded by Nigerian migrants receiving significant investments.
Shettima’s remarks at the dialogue also highlighted Nigeria’s strategy to address irregular migration, emphasizing the government’s commitment to reintegrating returning migrants while improving the overall migration policy to ensure that the benefits of migration are fully realized.
In conclusion, the Vice President stressed that while challenges persist, Nigeria continues to leverage its diaspora’s expertise and resources, both financially and socially, for national development. He reaffirmed the government’s determination to foster a migration framework that maximizes economic opportunities while ensuring the protection of migrant rights.
