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 remarkable four percent to Nigeria’s Gross Domestic Product (GDP).
Speaking at the 55th convocation lecture of the University of Lagos (UNILAG), Fashola underscored the economic potential of the annual event, urging Nigerians to seize the opportunity to boost tourism and enhance dollar liquidity.
He noted that while Detty December has created significant economic opportunities, the nation has yet to fully capitalize on its potential.
Fashola warned that failing to harness the event’s power could result in a loss of international tourists to other destinations.
He called for intentional efforts to expand Nigeria’s tourism offerings, especially during Detty December, which has garnered global attention.
“If you search for Detty December online, even Wikipedia has taken notice. The remittances in December alone amount to four percent of Nigeria’s GDP,” he remarked.
Fashola also pointed out that the influx of visitors, both from the diaspora and other parts of the world, showcases Nigeria’s dynamic culture, especially in Lagos.
He encouraged residents to find innovative ways to contribute to the growing demand, such as renting out furnished homes during the festive season.
“The young men and women visiting from around the world are sharing their experiences on social media, which generates global interest in Lagos. We must intentionally expand this interest into broader tourism opportunities,” he added.
Fashola emphasized that Detty December should be viewed not just as a festive period, but as a strategic economic tool capable of generating revenue and bolstering foreign exchange reserves.
He called for policies and infrastructure to enhance tourism, improve visitor experiences, and establish Lagos as a leading global destination during the holiday season.
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