NDIS 2023: Best time to invest in Nigeria is now, Dabiri-Erewa tells Nigerians in Diaspora

Caption: From left: Minister of Sports Development, John Enoh; Minister of Interior, Tunji-Ojo and Chairman Nigerians in Diaspora Commission (NiDCOM), Dr Abike Dabiri-Erewa, at the opening of the 6th Nigerians in Diaspora  investment Summit (NDIS2023) in Abuja on Tuesday.

Nigerians in Diaspora have been told that the best time to invest in the country is now with current opportunities under the President Bola Tinubu’s administration.

Chairman/Chief Executive Officer of Nigerians in Diaspora Commission Abike Dabiri-Erewa, made the call at the 6th opening of the 6th Nigeria Diaspora Investmebt Summit, with the theme: “New Vistas, New Aspirations, New Opportunities: The Diaspora and National Development”.

She said, “My dear guests seated here and online, I assure you that this is an exciting time to be doing business in Nigeria and this Summit is a step in making investment and growth a reality, because as Nigerians both at home and in the Diaspora, we should always be conscious of the fact that Home is Home, and no one can develop Nigeria like Nigerians.”

According to her,  for the repositioning of the economy to be far reaching, there’s need for the federal government to partner with the Diaspora.
She said: “His Excellency, President Bola Ahmed Tinubu who has just returned from attending the Saudi-Africa Summit made efforts to underscore Nigeria’s commitment to attracting more Diaspora direct investment and expand business partnerships, which are strongly reinforced by the administration’s ongoing domestic economic reforms.
“The summit is very appropriate because it creates innovative platforms of partnerships, between the Government and the Diaspora, in attracting investment into local businesses and thus enhancing Diaspora Direct Investment in the country,” she said.
Highlight of the summit was the launch of the Diaspora Housing Mortgage Loan by the Minister of Housing and Urban Development, Ahmed Kangiwa.

He explained that the “Scheme is designed to enable Nigerians living overseas participate in the National Housing Fund (NHF) Scheme so they can access up to N50 million to own their homes in Nigeria. Participants can access the loan via a National Housing Fund (NHF) loan, Rent-to-Own or the Individual Construction loan window.

“The terms are affordable and best market rates. This includes a single-digit interest rate of 9%, and a payback period of up to 10 years.
“As part of the initiative, the Federal Mortgage Bank of Nigeria will facilitate the construction of affordable housing units in major cities that meets the specifications of Nigerians in Diaspora.”

Also speaking, the Minister of Sports Development, John Enoh, said there was investment opportunities in the sports sector and urged the participants to take advantage.

He noted that Nigerians are making their marks around the world, describing them as the most patriotic.
“The Nigerians in the Diaspora are the most patriotic, despite the challenges they face. We have a sole responsibility for the development of sports in Nigeria and sports have the power to unite and transform more than every other sector.”

Director General,
Directorate of Technical Cooperation in Africa, Rabiu Dagari, described the theme of the summit as is apt saying it could not have come at more auspicious time when the new administration under President Tinubu has launched the Renewed Hope agenda.

According to him, “The President’s recent policies and pronouncements, already applauded worldwide, have further liberalised the investment climate and removed bottlenecks to investment and capital inflow.

“The conclusion and ratification of the Africa Continental Free Trade and the centrality of Nigeria to the success of the project is instructive. Nigeria, it must be said is the biggest economy on the continent boasting of over 200 million consumers with young vibrant population possessing boundless amount of energy.

“We have what it takes to attract any willing and genuine investors. Which is why our Nigerians in Diaspora must be the first to latch on to the huge opportunities that have opened up in the country. Nigerians in Diaspora and those at home have a unique opportunity to invest in the country which will in years to come determine the contours of African continental trade estimated at $1.4 billion.

“It’s often said that if you have not invested in the last 20 years, the best time is NOW. While we want to flaunt the investment opportunities of Nigeria we must also be honest enough to highlight some of the challenges in order for concerned agencies of government to do the needful.”

According to him, the DTCA has
no doubt that the Summit would achieve more and surpass the expectations of the organisers given the interest shown both internally and externally and the calibre of people in attendance.

Dagari said: “The DTCA would continue to engage with Nigerians in Diaspora, experts and professionals that are willing to contribute to national development. We will continue to support Diaspora programmes and events with other agencies and stakeholders for the socio-economic development of the Country and Africa at large.


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