How The Naira’s Fall Turned “Detty December” Into Nigeria’s Economic Flex 

There’s a certain irony to the plight of the Naira: while its devaluation has sparked anxiety among economists and policymakers, it has also created a peculiar kind of reverse attraction. Enter the IJGBs—“I Just Got Backs”—our brothers and sisters from the diaspora who return to Nigeria every December armed with their foreign currencies to partake in the cultural phenomenon that is Detty December. The Naira might be down, but Detty December is most certainly up.

Why the sudden diaspora exodus to Lagos? Simple. The math. Let’s face it: balling in the UK, USA, or Canada is an expensive sport. Bottle service at a high-end club in London might set you back £1,000—without even a hint of a celebrity in sight. Contrast that with Lagos, where not only does your dollar, pound, or euro stretch further, but your odds of rubbing shoulders with global superstars like Burna Boy, Davido, or Wizkid at a party skyrocket. Try pulling that off in Toronto. Drake won’t answer your DMs.

Detty December: The Economic Engine

This seasonal influx of IJGBs has done wonders for Lagos’s economy. Think about it: every dollar spent on airport arrivals, luxury cab rides, hotels, clubs, and beach resorts trickles down into the local economy. Everyone is eating, from cabbies hustling airport pickups to beach resorts offering premium cocktails with a side of sunlit ocean views. Even the guy selling suya outside Quilox knows he’ll be grilling all night.

Consider the sheer scale of it. According to reports, Lagos hotels are fully booked weeks in advance. Clubs are packed, menus upgraded, and prices hiked, all because these IJGBs have essentially turned their December homecoming into a festival of spending. It’s not just about the parties—Detty December has become a major economic driver.

A Vision Beyond Lagos

But here’s the question: what if every state in every region of Nigeria created its own version of Detty December? Imagine tourists flocking to Calabar for a carnival, Kano for cultural festivals, or Port Harcourt for seafood feasts. The potential here is staggering.

Take the Caribbean, for example. The Dominican Republic made $10 billion last year from tourism alone—no oil, no natural gas, just sun, sand, and hospitality. Tourism contributed over 12% of their GDP, showing that a country can literally live off its ability to host, entertain, and delight visitors.

Nigeria, with its diverse cultures, cuisines, and landscapes, can do even better. We already have the raw material: vibrant cities, stunning beaches, ancient monuments, and, of course, our music and entertainment industry, which is now a global force. All we need is organization, investment, and infrastructure.

The Naira’s Hidden Opportunity

While we lament the devaluation of the Naira, it’s inadvertently made Nigeria a more attractive destination for foreign spenders. Diaspora Nigerians now realize they can ball on a budget, live like royalty, and reconnect with their roots all in one swoop. The same logic applies to foreign tourists. A well-structured tourism strategy could turn Nigeria into a prime destination for Afrobeat enthusiasts, cultural explorers, and global adventure seekers.

Here’s the kicker: tourism isn’t just about creating jobs or generating revenue; it’s about storytelling. Every IJGB that goes back to the UK, US, or Canada with tales of star-studded parties, epic adventures, and unforgettable memories becomes an ambassador for Nigeria. They tell their friends, post on Instagram, and spread the word, fueling the cycle for the next Detty December.

Let’s Capitalize on This Moment

To truly harness this potential, we need a coordinated effort. States should develop unique offerings that celebrate their culture and heritage. Private investors should build more hotels, resorts, and entertainment hubs. The government should streamline processes for tourists, from visa policies to transportation networks. And we, as Nigerians, should continue to open our arms to those who want to experience the magic of our country.

Detty December is more than a season; it’s a blueprint. A sign that despite our challenges, we have the creativity, energy, and resources to build an economy that isn’t reliant on oil. Who knows? In a few years, we might be talking about Detty Year-Round.

And let’s be honest, where else can you catch Burna, Wiz, and Davido in one December lineup while paying in Naira rates that feel like a gift from the gods? Nowhere but here. Let’s build on that magic.