Ministry of Industry mulls partnership with NiDCOM to boost diaspora investments

The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite has expressed the need to work with the Nigerians in the Diaspora Commission (NIDCOM) to boost diaspora investments in the Country.

 Speaking during a courtesy call by the Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), Hon. Abike Dabiri-Erewa, the Minister said she will create a full department called “Catalytic Investment Unit” in the Ministry to accommodate all diaspora related matters.

The Minister commended NiDCOM, partnering with the private sector-led Nigerian Diaspora Summit initiative (NDSI) to organise the Nigerian Diaspora Investment summit, which has provided a platform for Nigerians who want to invest.

She said the Ministry would synergise with NiDCOM and NDSI to make the summit even stronger, in-line with the Ministry’s investment initiatives and policies.

The Minister said, “I have been charged by Mr President to look for inward investment into the country. NiDCOM has saved me from starting from scratch. We will build on your platform and work together.”

Mrs Uzoka-Anite described the Diaspora as a great potential for investment who are passionate about their country and willing to invest without too many conditions or demands.

The Minister added that the ministry can support Diaspora Investment by designing and creating different investment channels, negotiating long term investment opportunities, proposing removal of taxes on dividends and providing extra security arrangements on Diaspora investment and even work together to push bills to be sponsored by the National Assembly.

Earlier, Hon. Abike Dabiri-Erewa, had called for more synergy between the Commission and the Ministry to enhance Diaspora Direct Investment.

The NiDCOM boss used the opportunity to brief the Minister on the Nigeria Diaspora Investment Summit (NDIS) which had been hosted in Abuja six times.

“We have some requests which include creating incentives for the Diaspora coming back home to invest, partnering to implement the Diaspora Investment Trust Fund and establishing a Diaspora Desk in the Ministry,” Dabiri-Erewa said.

In attendance were the duo of Director of Trade and Investment in the Ministry of Foreign Affairs, Amb. Bolaji Akinremi, and the Permanent Secretary in the Ministry of Industry, Trade and Investment, Amb. Nura Abba-Rimi, as well as members of the NDIS team.