Nigeria’s Vice President, Senator Kashim Shettima, revealed that startups established by Nigerian migrants garnered more than $800 million in investments in 2022.
Shettima shared this information on Monday during the 10th Annual National Migration Dialogue, themed “Beyond Borders: Celebrating Migrants’ Legacy, Protecting Their Rights,” held at the Banquet Hall of the Presidential Villa in Abuja.
He emphasized that Nigeria leads in diaspora remittances within West Africa, underscoring the significant impact of Nigerian immigrants on the global economy.
According to Shettima, Nigerian migrants have not only contributed through remittances but have also emerged as global ambassadors excelling in various fields, including technology, medicine, sports, and creative arts.
He stated, “Migration transcends mere geographical relocation; it serves as a vital engine for both global and national development. In 2022, Nigeria recorded $21.9 billion in diaspora remittances, which accounted for 64% of all remittances in West Africa. This highlights the essential economic roles played by Nigerian migrants.”
Shettima further noted, “In addition to financial contributions, our migrants are thriving as global ambassadors, especially in technology, medicine, sports, and the arts. The impressive figure of over $800 million in investments attracted by migrant-founded startups in 2022 showcases the transformative power of our people on the global stage.”
The Vice President acknowledged Nigeria’s dual role as both a source and destination for migrants, with over 1.3 million international migrants currently residing in the country.
He raised concerns about the ongoing issues of irregular migration, revealing that in 2024 alone, 10,000 Nigerians were detained for various migration offenses and subsequently deported.
“Nonetheless, it is crucial to recognize that irregular migration remains a significant challenge. This year, we have already returned and reintegrated at least 10,000 Nigerians who faced detention for immigration violations in African and European nations,” he explained.
“These statistics reveal the vulnerabilities associated with migration and highlight the necessity for coordinated initiatives to tackle these challenges while leveraging migration for economic development and resilience,” the VP concluded.
He assured that the Nigerian Federal Government is committed to addressing the complexities of migration.
