Nigeria could attract more than $200 billion in diaspora remittances annually if the country improves trust, investment conditions and the way it treats Nigerians living abroad, global investment entrepreneur and private equity investor, Dr Steven Aintayo, has said….
Nigeria could attract more than $200 billion in diaspora remittances annually if the country improves trust, investment conditions and the way it treats Nigerians living abroad, global investment entrepreneur and private equity investor, Dr Steven Aintayo, has said.
Akintayo made the projection during an interview on TVC News’ Diaspora Connect, where he discussed how diaspora wealth, private equity and foreign direct investment could be harnessed to transform Nigeria and the wider African economy.
He said Nigeria had only begun to tap into the potential of its diaspora, noting that highly skilled Nigerians working abroad, including doctors, nurses and engineers, represented a major economic opportunity.
“I believe the earnings of remittance, if well managed, well put together and trust is built, I strongly believe Nigeria alone can be getting over $200 billion every year from remittances and probably even hit a trillion dollar at some point,” he said.
Akintayo said Nigeria’s challenge was not a lack of skilled people abroad but the trust deficit discouraging many of them from investing more heavily in the country.
He cited concerns over property investments, insecurity and the treatment of investors as factors that could undermine confidence among Nigerians in the diaspora.
According to him, government agencies and the civil service must improve how they treat investors, particularly Nigerians living abroad who continue to invest in the country.
“Some of the highest investors in real estate in Nigeria are those in the diaspora,” he said, stressing that negative experiences could create the perception that investing or returning home was unsafe or unprofitable.
Akintayo also called for improved efficiency in the civil service, saying investors should be treated with dignity and their businesses protected from unnecessary interference.
“If our civil service can improve and begin to function well, if the way we treat some of our diasporan investors who are still investing back in Africa, if we treat them right,” he said, Nigeria could strengthen confidence and attract more capital.
He argued that building trust would require more than government publicity, saying the way investors and citizens are treated by government institutions ultimately shapes the country’s image abroad.
“There’s a need for consciousness by everybody in Nigeria to know that we need to change how we talk, how we market the country,” he said.
Akintayo also urged Nigerians considering relocating abroad not to abandon their businesses and assets at home, but to approach migration with an entrepreneurial mindset.
His advice to those planning to “japa”, he said, was to think about ownership and job creation rather than simply seeking employment abroad.
“Don’t just think of looking for a job. Right now, globally, you can see there’s a major push back against immigration globally. Countries no longer want people to come and take their jobs. They want people to come and produce jobs, to create jobs,” he said.
He advised Nigerians who relocate to expand their businesses rather than shutting them down completely.
“Don’t shut down. I’ve seen people shut down what they have in Africa just to go and expand elsewhere and when they get outside of Africa they end up picking up a job,” he said.
Akintayo urged Nigerians to remain optimistic about the country while acknowledging its challenges, saying diaspora engagement should be viewed as an opportunity to strengthen Nigeria’s economy rather than simply a consequence of brain drain.
The entrepreneur, who has built businesses across real estate, technology, education and investment, said Nigeria’s diaspora should be seen as a source of capital, expertise and global connections capable of supporting long-term economic growth.
