Diaspora investment: NIDCOM seeks partnership with trade, investment ministry

The Nigerians in Diaspora Commission (NIDCOM) has solicited a partnership with the Ministry of Industry, Trade, and Investment to boost diaspora investment and strengthen efforts toward economic development in the country.

The Chairman of NiDCOM, Mrs Abike Dabiri-Erewa called for the partnership during a courtesy visit to the Minister of Industry, Trade and Investment Doris Uzoka-Anite in Abuja.

According to the Dabiri-Erewa, there are no fewer than 17 million Nigerians in the diaspora who are passionate about the country and are willing to invest at home.

She added that NIDCOM has a Diaspora Investment Trust Fund that has been approved by President Bola Tinubu “but there is a need for the commission to work with the ministry to be able to make the diaspora investment policy work.

“We want to work with the ministry to ensure that the diaspora investment policy eventually works while we also talk about foreign direct investment.

“We have provided a platform for the diaspora to invest.

“We also want to propose a need to have a diaspora desk under the ministry for everything that concerns their investment.

“We also want the ministry to consider the need for some incentives for the diaspora like tax incentives among others as part of their returns of investment,” Dabiri-Erewa said.

Responding, Uzoka-Anite expressed her appreciation to NiDCOM for seeking the partnership.

She noted that Nigerians living abroad are in a position to rescue Nigeria in terms of sourcing for investment to turn around the economy.

“Diaspora are the only ones that can invest without asking for outrageous demands that we’ve seen from other investors over the years because Diaspora is emotional and sentimental towards their home country.

“We are charged with the responsibility to drive investment inwardly from foreign countries whether they are diaspora or traditional, local and domestic investors.

“Our job is also to create an investment opportunity and the platform to enable that to happen to support these investments.

“We’re not going to start afresh but start from the platform that you’ve given us.

“The ministry grants the permission to work together because everything proposed is in line with our investment initiatives and policies,” the minister said.

In a remark, the Director of Economy, Trade, and Investment in the Federal Ministry of Foreign Affairs, Amb. Bolaji Akinremi, said the investment platform would be beneficial to Nigerians in the Diaspora.

He, therefore, urged them to take advantage of the opportunity to invest in their country.