The Nigerian Diaspora Financial Inflows: A Driving Force for Socio-Economic Development at the Grassroots

Abstract

This paper is an examination of the role of the Nigerian Diaspora in Nigeria’s socio-economic development. The Ex-Post Facto research design was adopted, using secondary data sourced from published sources such as books, academic journals and other online materials. The theoretical framework was anchored on Global Modernity and data was analyzed via content analysis. The paper found out that Nigerian Diaspora remains a positive driving force for the nation’s socio- economic development via huge financial inflows from Diaspora remittances. In addition, the paper has also showed how the Nigerian government can adopt global Diaspora best practices using India and Philippines to mobilize and harness the full potentials of her Diaspora community. The paper recommends among others that more Nigerian Diaspora engagement platforms should be put in place to enable the nation benefit more from their huge capabilities.