By Bilkisu Aminu, Abuja
Nigeria in Diaspora Commission set to stage a conference on Investment Summit come 16th and 17th of November, 2021.
The Chairman/CEO, Nigeria in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa made this disclosure in a press briefing held in Abuja recently.
Hon. Abike while speaking emphasized that a number of 1st and 2nd generation Nigerians in Diaspora are among a narrow but growing demographic band leading to increased wealth with more disposable incomes in the societies where they reside.
In her words, she said, “unlike foreign investors, Nigerians in the diaspora are not overly influenced by the negative risk profile of the country but are motivated by a sentimental attraction and strong desire to give back to their home country”.
Speaking further, Dabiri-Erewa notified that through collaborative efforts with Nigeria Investment Promotion Council, Organized Private Sectors, and some Banks, they have decided to make the summit an annual event.
Reacting to this, the Summit Coordinator Dr. Badewa T. Adejugbe-Williams, said targeting the Nigerians in the diaspora is a more effective way of attracting investment into Nigeria.
“So it’s not just about the social well being but the social-economic well being of their families and country at large”.
She assured the general public of the safety of their investments and urge them to participate.
“knowing that you are impacting those small and medium enterprises, close to your businesses is actually more effective than targeting a big key project. Because when we impact lives in the small communities by taking care of their own well being and creating jobs for others within the community and once the community is developed one right after the other, the whole city is developed, a state is developed and eventually the whole nation will be more developed.
” Another aspect of Investment Summit is that a lot of investment for Nigeria right now by the diaspora is some of them are investing in others through our investments and some of them are equally investing in their own businesses through our investments”, she added.
While presenting the closing remark, the Secretary NiDCOM, Dr. Sule Yakubu Bassi Ph.D., FNIAE, FNSE notified that
“last year we had over 3000 participants who attended the third Nigeria in Diaspora Investment Summit, this year we are targeting over 5000 participants”.
He added that early this year, the Central Bank of Nigeria launched a policy to encourage diaspora investments through diaspora home remittances.
“The policy launched early this year, which was supposed to go for only six months has been fast-tracked forward for another six months. And in that policy, any remittances to Nigeria, you will be paid in the currency that it has been sent and for every dollar sent, there will be a palliative of five Naira given to the person sending it.
“I like the idea of the Diaspora direct investment focus. This is because the diaspora has four things to add value to the Nigerian economy. One, they have resources. They have skills. They have talents. And the fourth one, which is very important for development in Nigeria is the Global Development exposure where you have these four, I can tell you, Nigeria will be great”.