Nigeria Targets Diaspora Investments with Toronto Economic Summit

Michael Olugbode in Abuja

Nigeria is intensifying efforts to channel more than $20 billion in annual diaspora remittances into productive investments as the Nigerians in Diaspora Commission (NiDCOM) unveiled plans for a major global investment conference aimed at mobilising Nigerians abroad to drive economic growth at home.

Chairman and Chief Executive Officer of the commission, Abike Dabiri-Erewa, announced on Wednesday that the Nigeria Diaspora Economic Conference (NIDEC) 2026 will take place from August 13 to 15 in Mississauga, Toronto, Canada.

Speaking at a press conference at the Federal Secretariat Complex in Abuja, Dabiri-Erewa said the summit represents a strategic push to redirect diaspora remittances—one of Nigeria’s largest sources of foreign exchange—toward long-term investments in key sectors of the economy.

“While remittances have long supported families and communities, the focus now is to transition from remittances for consumption to remittances for investment,” she said.

“This conference will create a platform for diaspora professionals and investors to connect directly with credible opportunities in Nigeria.”

She explained that Canada was selected as host country because of its rapidly growing and highly accomplished Nigerian community, particularly in sectors such as healthcare, technology and finance.

Dabiri-Erewa noted the conference, themed “Invest Nigeria, Thrive Abroad,” will serve as a bridge between Nigerian entrepreneurs and diaspora investors by creating structured opportunities for partnerships, technology transfer and capital mobilisation.

Unlike traditional conferences, she said the event is designed as a results-driven investment marketplace, where investors and businesses can negotiate deals, hold business-to-business meetings and sign memoranda of understanding.

Key sectors expected to be highlighted at the summit include fintech and digital innovation, agriculture and agro-processing, mining and renewable energy, healthcare and pharmaceuticals, real estate, infrastructure and financial services.

Dabiri-Erewa also disclosed that the conference will be organised in collaboration with the Nigerian High Commission in Canada and the Canadian High Commission in Nigeria to ensure smooth participation for delegates.

Beyond the investment forum, the conference week will feature cultural and entertainment activities celebrating Nigerian excellence, including the Flavours of Nigeria Festival and the internationally recognised The Headies music awards, which are scheduled to hold in Canada for the first time.

She urged Nigerian state governments, financial institutions, entrepreneurs and diaspora professionals to take advantage of the platform to showcase viable projects and attract global capital.

Dabiri-Erewa added that discussions are ongoing with Canadian authorities to introduce a special event visa facilitation process for legitimate participants, while a dedicated registration portal for the conference will soon be launched.

“Nigeria is open for business,” she said. “Our diaspora remains one of the most powerful drivers of national development, and Toronto 2026 will be a defining moment in harnessing that potential.”

The Nigeria Diaspora Economic Conference is expected to attract investors, policymakers, business leaders and professionals from across North America, Europe, Africa and Asia, positioning Nigeria’s diaspora community as a key partner in the country’s economic transformation.