By: Bayero Ade
Babatunde Raji Fashola, former Governor of Lagos State and ex-Minister of Works and Housing, has revealed that diaspora remittances during the 2024 “Detty December” festivities contributed a significant four percent to Nigeria’s Gross Domestic Product (GDP).
According to Politics Nigeria, speaking at the 55th convocation lecture of the University of Lagos (UNILAG), Fashola emphasized the economic potential of the annual event, urging Nigerians to capitalize on the occasion to boost tourism and dollar liquidity. He noted that while Detty December has created considerable opportunities, Nigeria has not fully harnessed its economic impact.
Fashola cautioned that failing to tap into the event’s potential could lead to a shift of international tourists to other destinations. He stressed the need for deliberate efforts to expand Nigeria’s tourism offerings, particularly during the globally recognized Detty December.
“If you search for Detty December online, even Wikipedia has taken notice. The remittances during December alone account for four percent of Nigeria’s GDP,” he said.
The former Governor also highlighted how the influx of visitors from the diaspora and other regions showcases the vibrancy of Nigeria, particularly Lagos. He encouraged residents to explore innovative ways to meet the growing demand, such as renting out furnished homes during the holiday season.
“All the young people visiting from around the world are sharing their experiences on social media, generating global interest in Lagos. We need to turn this attention into greater tourism opportunities,” he added.
Fashola urged Nigerians to view Detty December not just as a festive time, but as an economic tool capable of generating revenue and boosting foreign exchange reserves. He called for the development of policies and infrastructure to support tourism, enhance visitor experiences, and position Lagos as a top global destination during the holiday season.
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