Nigerians in Diaspora Organisation Europe (NIDOE)
which is comprised of 23 Chapters in 21 European countries is the European arm of the Nigerian Global Diaspora network (NIDO), the official organization facilitated by the Federal Government of Nigeria to represent the interests of all Nigerians in the Diaspora including NIDO Americas, NIDO Europe, NIDO Asia, NIDO Oceania and NIDO Africa as continental organizations (Federal Republic of Nigeria Official Gazette No. 67, Vol.104, NIDCOM Act). The core and strategic objectives of the Organisation is to channel Foreign Direct Investment from Diaspora to Nigeria through advocacy, networking, partnerships, and bilateral cooperation wishes.
To further emphasize the enormous positive impact of Diaspora contributions to the Nation´s economy, BUSINESSDAY special report of June 10, 2019, summarizes the crucial role of the Diaspora in sustaining the Nigerian economy: According to data provided by the Central Bank, Diaspora remittances (cash sent back home by Nigerian emigrants) first outpaced oil revenue in 2015, as the $21.2 billion sent home officially by Nigerians abroad surpassed the $19.6 billion oil export proceeds for those twelve months. In the years through a recession-tainted 2016, 2017 as well as 2018, the trend continued. In 2016 and 2017, Nigerians abroad sent home $19.7 billion and $22 billion respectively, which were higher than the $10.4 billion and $13.4 billion garnered from oil exports in the same period. “The only thing holding up the economy is the Diaspora; Andrew Nevin, the chief economist at consulting firm Price Waterhouse Coopers concluded that if Nigeria did not have this massive flow of remittances, he is pretty sure the economy would collapse”.
Based on the enormous positive impact of Diaspora contributions to the Nation´s economy, the conference is to further evaluate a structured effective and efficient diaspora involvement and participation in the growth and development of Nigeria both at State and Federal level. The conference will continue to look objectively at the development challenges in Nigeria and seek the needed Diaspora intervention in areas of viable partnerships, knowledge and experience, training and transfer of skills, finance and mentorship within the pool of diaspora professional resources globally.