The Nigerian Diaspora Summit Initiative (NDSI) in partnership with the Nigerians in Diaspora Commission (NiDCOM) held the fifth edition of the Nigeria Diaspora Investment Summit (NDIS) in Abuja recently.
The annual event, which started on Tuesday November 15 to November 17 attracted Nigerians locally and globally from all walks of life to attend the hybrid investment Summit,
At the opening ceremony, Abike Dabiri-Erewa, Chairman/CEO NiDCOM, represented by Engr. Dr. Sule Yakubu Bassi, Secretary to the Commission, stated that a greater degree of recognition should be accorded to the Diaspora Community, numbering over 17 million Nigerians, who have contributed over $20billion dollars in remittances to the economy in 2021.
The Diaspora engagement is not only demographic but also more of an economic factor towards national development which has translated to the Diaspora Direct Investment (DDI).
The NDIS has over the years served as a linkage between entrepreneurs and investors, home and abroad, in major business specialisations which have successfully given rise to job opportunities, economic growth and more taxable income to the Federal Government.
The NiDCOM Boss said that the event is currently focused on the grassroots investment and sub-national levels because, “that is where the opportunities are for real. time investments.
She recalled that last year’s thematic focus was on Borno and Nassarawa States, while this year targets Ondo State and its plethora of viable businesses for investment.
The Coordinator of the Investment Sunmit, Dr. Badewa Adejugbe-Williams, said that the Summit for the fifth time running have birthed many success stories.
Williams maintained that such stories are possible because of the robust business policies especially the presidential initiative on ease of doing business in Nigeria.
She commended Hon. Abike Dabiri-Erewa, for her innumerable support and hope for another productive engagement.
Mr. Bimbo Roberts Folayan, Founder, Nigerian Diaspora Direct Investment Summit (NDDIS) who joined virtually said that the Summit is a laudable project which has jointly engaged Nigerians home and abroad to develop keen attachment to the development of homeland, Nigeria.
Mr. Folayan added that trust should be a key factor in creating a conducive business environment.
The Managing Director, Federal Mortgage Bank of Nigeria (FMBN), Mr. Haman Madu stated that with the Diaspora Housing packages available, he emphasised that trust and honesty are the twin investments portfolio needed to establish and sustain businesses as well as services by and for Nigerians in the Diaspora.
The NDIS 2022 is the fifth edition of the Summit. The three-day event has as its theme: “Optimising Investment Opportunities for National Development”.
At the closing ceremony, Abike Dabiri-Erewa revealed assurances of the Vice President, Professor Yemi Osibanjo, that the dream of having Ondo Seaport will soon be actualised.
While giving her closing remarks at the Summit on Friday, Dabiri-Erewa said “One of the major aims of the summit is to drive key investments in various local sectors of the economy.” .
Participants were encouraged to invest back home as the State in focus, Ondo, has been able to showcase the numerous investment opportunities.
The Managing Director, Federal Housing Authority (FHA), Sen. Gbenga Ashafa, represented by Hajia Hafsat Kadiri, revealed the Organization’s readiness to support and partner with investors and developers.
According to him, “The Diaspora City will be standing on 600 hectares of land in Abuja as a pilot project. We hope to extend it across the Nation. Diasporas are hereby welcome to build their own cities in their respective states”.
Also, the Executive Chairman, Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, represented by the Secretary, Dr. George Ekpungu, who said Nigeria is the best destination for Investment.
“Nigeria has vast opportunities which require responsibility to be turned into National investment. With Integrity and accountability in management of resources, investments will yield optimum benefits to both investors and the Nation,” he said.
The EFCC Boss further disclosed the agency’s commitment to tackling corruption and sanitizing the economic space to ensure investors get value for their money especially through the three recent laws.
“The Money Laundering (Prevention And Prohibition) Act 2022, Terrorism (Prevention and Prohibition) Bill, 2022, and the Proceeds of Crime (Recovery and Management) Bill, 2022,” he said.
Minister of State for Foreign Affairs, Hon. Amb. Zubairu Dada, who was represented by Dr. Oludare Folowosele, described the Diaspora as a source of joy to the nation.
He further assured that the Ministry will continue to work closely with stakeholders to ensure championing the course of the Diaspora.
Chairman, House Committee on Diaspora Affairs, Hon. Tolulope Akande-Sadipe challenged the Diaspora to sell Nigeria as an investment destination.
“We can collaborate, those of us at home and those in the Diaspora to bring more businesses to Nigeria. We need a pathway like interpretation of the constitution so that anyone with a link to Nigeria will identify themselves as Nigerians” , he said.
Chairman, Senate Committee on Diaspora and Non-Governmental Organizations, Sen. Michael Ana-Nnachi, encouraged Diasporas to look inwards and work with the government to build an economy that will bring about a change in the fortunes of the nation.
It was a great moment of sharing ideas and networking to bring the technical expertise, competences and experiences of the Nigerians in the Diaspora. But there has to be a strategy to achievement that especially as the Diaspora Investment Trust Fund is expected to activate the integration of the modalities to boost investments accros the county.
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