Tinubu Tasks Nigerians In Diaspora On Investment

President Bola Tinubu has challenged Nigerians in the Diaspora to intensify their partnership with his administration to boost the investment landscape in Nigeria.

He urged them to contribute more of their expertise, skills, funds, and experience to developing the country.

The president made the appeal in a keynote address at the 7th Nigeria Diaspora Investment Summit (NDIS) opening ceremony, which was themed “Adapting Stability through Diaspora Investment: Navigating the Path to Prosperity.”

The NDIS is an annual project organised by the Nigerians in the Diaspora Commission (NIDCOM) and the Nigerian Diaspora Summit Initiative (NDSI) to catalyse and unite all Nigerians in improving the country’s economy.

Speaking through the Secretary to the Government of the Federation, Senator George Akume, at the opening ceremony on Tuesday in Abuja, President Tinubu assured Nigerian investors that the country is open for business and will always provide the enabling environment for investment to thrive.

He said, “Let me assure the investors that Nigeria is open for business; we are committed to providing the support and enabling environment you need to invest confidently. Let us forge partnerships to drive our nation’s progress and prosperity.”

He also encouraged talented pitchers and budding entrepreneurs to seize the moment and present ideas boldly as they support his administration and the entire NDIS team. “We are here to help you navigate the journey ahead and provide the backing needed to turn your ideas into reality,” he said.

Nigerians in the Diaspora have remitted vast sums of money to the country in the last five years. In 2023, they remitted about $20 billion, equivalent to a significant fraction of the nation’s budget.

The President commended NiDCOM, headed by Dr. Abike Dabiri-Erewa, for its tireless efforts in creating pathways for meaningful collaboration with Nigerians abroad.

He said further that “the Diasporas are our invaluable partners in this journey to national prosperity and unlocking the full potential of our initiatives. Thus, Diaspora involvement is not just welcomed; it is essential. We know the need to structurally engage and leverage the Diaspora’s talent and resources to achieve a prosperous nation.”

In his remarks, Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, tasked the Nigerians in the Diaspora to take advantage of the global Business Match Initiative to bring businesses to Nigeria and synergise with Nigeria’s 114 foreign missions to achieve that.

Represented by the Director of Economic, Trade & Investment at the Ministry of Foreign Affairs, Bolaji Akinremi, the Minister also admonished the Diaspora Nigerians to promote the president’s 4D foreign policy objectives, which include democracy, Development, the Diaspora, and Demography.

Chairman/ CEO of NIDCOM, Dr Abike Dabiri-Erewa, described the Nigerians in the Diaspora as the “social and economic capital of the country,” stressing that the NDIS has become a platform to construct dialogue for Nigeria’s industrialisation, economic growth, diversification, and digitalisation.

She noted that the current government is willing to put infrastructure in place for national progress, adding that investors can tap into the country’s vast potential in ICT, agribusiness, Finance, healthcare, sports and entertainment, manufacturing and mining, education, fintech, and the creative industry, among other areas.

Chairman of the Senate Committee on Diaspora Victor Umeh said the NDIS has become a beacon of hope and progress and underscored the crucial role of Nigerians in the Diaspora in bringing stability and economic growth.

He urged for an environment enabling Nigerians to attract more investment in the country from abroad.

In his remarks, Chairman of the House of Representatives Committee on Diaspora Tochukwu Okere said that Nigerians abroad have demonstrated an indomitable spirit. He described them as assets to the nation for their consistency in remitting vast sums of money back home for national development.