A new proposal discussed with governors Chukwuma Soludo and Dauda Lawal could give Nigerians living abroad a direct stake in businesses built around state economies, from industrial projects in Anambra to mineral processing in Zamfara.
Nigerians living abroad send money home every year, but economist and engineer Ndubuisi Ekekwe believes that money could do more than support families.
He raised the idea during a NiDEC 2026 fireside conversation with Anambra State Governor Chukwuma Soludo and Zamfara State Governor Dauda Lawal, asking whether states could create professionally managed investment companies that allow ordinary Nigerians in the diaspora to own a piece of local businesses.
Ekekwe asked Soludo whether Anambra could develop something similar to Transcorp Plc at the state level, a commercially driven company capable of raising money and taking on large industrial projects.
Soludo indicated that such a vehicle is being considered and that details would be announced later, with Nigerians in the diaspora potentially able to invest.
The discussion then moved to Zamfara, where the state has large mineral deposits but much of the mining remains in the hands of small-scale and artisanal miners.
Ekekwe asked Lawal whether the state would support a privately managed company that could process minerals locally and allow Nigerians abroad to invest in it.
Lawal was receptive to the idea and, during lunch, discussed a possible approach: bring Nigerian capital together, build processing facilities inside the country, add value to minerals locally and give Nigerians a chance to own part of those businesses.
SEE ALSO: Nigerian Engineer Celebrates Master’s Degree From US University
The idea is aimed at people who may not have enough money to return to Nigeria and build a factory themselves.
“Someone may have $10,000, another $25,000, another $100,000, while institutional investors can provide much more,” Ekekwe said.
He argues that thousands of smaller investments could be combined to finance major projects if the companies are properly managed and trusted.
But some Nigerians responding to the discussion raised a harder question: can investors trust the system enough to put their money in?
One commenter pointed to security, electricity and political uncertainty as major obstacles, while another warned that mining could become complicated without strong oversight.
Ekekwe’s larger point is straightforward: Nigerians abroad should not only send money home. They should have opportunities to own productive assets at home.
Whether states can build the trust and systems needed to make that happen is another question. For now, the idea has reached the table. What happens after the conversation may matter even more.
