Shettima: Diaspora remittances strengthening Nigeria’s external position

Vice-President Kashim Shettima on Wednesday lauded Nigerians in the diaspora for their economic contributions, saying their remittances are strengthening Nigeria’s external position.

“Your remittances are showing,” Shettima told Nigerians at a diaspora town hall at Nigeria House in New York.

He said Nigerians abroad remit about 20 billion dollars annually, describing the inflows as larger than the economies of some African countries.

Official remittances to Nigeria stood at about 20.93 billion dollars in 2024, underscoring the diaspora’s importance to foreign-exchange inflows and household incomes.

Shettima cited the country’s improving foreign reserves as evidence of strengthening economic buffers.

The latest Central Bank of Nigeria figures put gross external reserves at 55.25 billion dollars, the highest level in about 18 years.

The Vice-President, who is representing President Bola Tinubu at the 81st UN General Assembly, urged Nigerians abroad to deepen their participation in the country’s development.

Shettima also called for national unity, saying Nigeria’s diversity should not prevent citizens from working collectively for the country’s progress.

“What binds us together supersedes whatever divides us,” he said.

He conveyed Tinubu’s greetings to the gathering and defended the administration’s handling of the economic and security challenges inherited upon assuming office.

According to him, Tinubu had chosen to confront the problems rather than blame his predecessor.

“He never makes excuses. He never made one negative remark against his predecessor,” Shettima said.

“He said he had to inherit the assets and liabilities of his predecessor. And instead of him complaining, he rolled up his sleeves.”

The Vice-President acknowledged that Nigerians continued to confront major difficulties, including insecurity and inadequate electricity supply, saying, “We have challenges, but we never deny that.

He, however, argued that emerging economic indicators showed progress in addressing some of the country’s structural difficulties.

“The economy grew last quarter by 4.4 per cent,” Shettima said.

The National Bureau of Statistics reported real GDP growth of 4.43 per cent year-on-year in the second quarter of 2026, compared with 3.89 per cent in the preceding quarter.

“I can assure you, my brothers and sisters, that we are working day and night to reposition the Nigerian nation,” he said.

“We have crossed the Rubicon; we are on the path to economic progress.”

Shettima highlighted major infrastructure projects, including the Lagos-Calabar Coastal Highway and Sokoto-Badagry Superhighway, as examples of investments intended to improve connectivity and economic activity.

He also cited private-sector achievements as evidence of Nigerian entrepreneurial capacity and commended Aliko Dangote for developing the Dangote Refinery and pursuing industrial investments elsewhere on the continent.

He said Nigerian-owned financial institutions and businesses were also increasingly establishing significant footprints across Africa.

Shettima reserved particular praise for Nigerians living in the United States, describing their educational and professional accomplishments as a source of national pride.

He described Nigerian immigrants as among the most highly educated immigrant communities in the United States.

Migration Policy Institute analysis of 2024 U.S. Census data found that 67 per cent of Nigerian immigrants aged 25 and above possessed at least a bachelor’s degree.

Pew Research Centre similarly reported Nigerian-born Black immigrants as having the highest college-degree attainment among the major Black immigrant origin groups it examined.

The vice-president urged the Nigerian diaspora to translate such educational, professional, and entrepreneurial achievements into stronger partnerships with Nigeria.

He also encouraged Nigerians to focus more on the country’s successes while acknowledging its shortcomings.

Countries, he argued, should confront their difficulties without letting them define their entire national story.

The town hall meeting allowed members of the Nigerian community to interact with the vice-president on national development and their role as the Nigerian diaspora.

Shettima is in New York leading Nigeria’s delegation to UNGA81 and is scheduled to deliver the country’s national statement before the General Assembly on Thursday.

During the high-level week, Shettima will hold bilateral meetings on investment, multilateral reforms, development financing, security, and Africa’s economic priorities.