At least 66 Nigerians acquired citizenship in Antigua and Barbuda between January and June 2024, according to newly released figures from the country’s Citizenship-by-Investment Unit (CIU).
The influx of Nigerian applicants, alongside their families, contributed over US$6.6 million to the Caribbean nation’s treasury through the popular National Development Fund (NDF) route.
Antigua approved 739 CBI applications across all nationalities during the period, marking a dramatic 200% surge compared to the same period in 2023, with Nigeria ranking as the third-largest source country, following China and the United States.
Nigeria topped the list of African countries using Antigua’s CBI programme, outpacing South Africa, Egypt, Kenya, and Ghana, which recorded single-digit applications.
China, the US, Nigeria, Turkey, Russia, India, Bangladesh, Iran, South Africa, and Lebanon formed the top ten nationalities for CBI applications globally. The CIU attributed the spike in demand to growing geopolitical uncertainty and anticipation of an upcoming fee hike.
In August 2024, Prime Minister Gaston Browne’s government increased the minimum NDF donation to $150,000 for a family of four. This spurred a wave of early applications from investors keen to “lock in” the old rate before the policy kicked in.
The National Development Fund route remained the top choice, with 614 applicants bringing in $62.98 million in new revenue. Real-estate investments accounted for another 15% of applications, with fewer opting for business ventures or contributions to the University of the West Indies Fund.
Tourism and Investment Minister Charles Fernandez confirmed the funds were channelled into critical infrastructure projects, including hurricane-resilient housing, a national dialysis unit, and debt repayment.
Documents reviewed by Chronicle NG show nearly 90% of Nigerian applicants favoured the NDF, which provides direct support for government-backed projects rather than tying up funds in private real estate.
Most Nigerian applicants were described as seasoned entrepreneurs and high-level professionals seeking global mobility. An Antigua passport grants visa-free travel to over 150 countries, including the Schengen Zone and the UK.
Antigua & Barbuda launched its CBI programme in 2013 under the Citizenship by Investment Act No. 2. Applicants must pass stringent due diligence checks, have no criminal record, and select one of four qualifying investments: NDF ($150,000), real estate (from $200,000), business investment (solo $1.5m or $400,000 in a joint $5m project), or the UWI Fund ($150,000, with one year of tuition for a dependent included).
Successful candidates are required to spend at least five days in Antigua within the first five years. Since 2017, all CBI passports have included biometric chips and fall under annual audits to comply with EU and OECD standards on transparency.
