By Maymunah A. Zubair

The 7th edition of the Nigeria Diaspora Investment Summit (NDIS) 2024 saw the Ministry of Foreign Affairs reiterate its dedication to fostering economic collaboration and supporting diaspora investment in Nigeria. Represented by Ambassador Bolaji Akinremi, Director of Trade and Investment, the ministry unveiled initiatives aimed at bridging global investors and Nigerian businesses, emphasizing its commitment to advancing sustainable growth.

In his remarks, Akinremi emphasized the ministry’s readiness to engage in partnerships that would unlock Nigeria’s potential, especially through the newly developed “Global Business Match Platform.” Describing it as a groundbreaking initiative, Akinremi noted that the platform, a brainchild of the Ministry of Foreign Affairs, will allow Nigerian businesses and international investors to connect seamlessly, creating a channel for cross-border partnerships. “This platform offers a unique opportunity for our diaspora and other global investors to align with Nigerian enterprises, no matter where they are located,” he explained.

Akinremi also introduced the ministry’s Global Help Desk, an additional resource created to assist investors navigating Nigeria’s economic landscape. The desk is designed to support potential diaspora investors by providing guidance on opportunities, legal frameworks, and necessary connections to foster sustainable business practices. “Our aim is to make investing in Nigeria as straightforward as possible, leveraging our diaspora’s resources and expertise,” Akinremi said.

The Ministry’s collaboration with the Nigerian Diaspora Commission (NIDCOM) was another focal point, as Akinremi assured attendees of the ministry’s ongoing support for NIDCOM’s efforts to channel diaspora investment into the Nigerian economy. “Our ministry stands behind NIDCOM and the investments it is helping to drive into Nigeria,” he said, underscoring the government’s recognition of the diaspora’s crucial role in national development.

The summit, which featured investors, entrepreneurs, and sector leaders, offered an array of exhibitions and investment pitches spanning multiple sectors, including technology, healthcare, agriculture, education, and real estate. Through these initiatives and with a strong commitment from the Ministry of Foreign Affairs, Nigeria aims to solidify its position as a premier investment destination for its global diaspora community.

By Maymunah A. Zubair

Honorable Sir Tochukwu Okere, Chairman of the House Committee on Diaspora Affairs, highlighted the importance of policy-driven collaboration to foster a favorable environment for foreign and diaspora investment in Nigeria during his remarks at the Nigeria Diaspora Investment Summit (NDIS). The event brought together investors, policymakers, entrepreneurs, and business leaders with the goal of bridging opportunities between Nigerians at home and in the diaspora.

In his speech, Hon. Okere underscored the crucial role of government in creating policies that enable smoother processes for diaspora investors interested in contributing to Nigeria’s economic development. He emphasized that fostering an investment-friendly environment is essential, given the challenges that foreign investors often face in navigating regulatory and operational hurdles. “We must build frameworks that simplify the investment process, reduce bottlenecks, and ultimately enhance trust between Nigerian investors and the government,” he stated.

Okere expressed a commitment to supporting legislative policies that encourage diaspora engagement and strengthen Nigeria’s global partnerships. He acknowledged that the diaspora community represents a vital resource for both capital investment and expertise, which, if harnessed, could substantially accelerate Nigeria’s economic growth. “The potential of our diaspora is immense; our task is to create a system that welcomes and sustains their involvement. Through effective policies and proactive partnerships, we can bring their resources and knowledge back home,” he said.

Throughout his address, Hon. Okere highlighted the ongoing efforts of the House Committee on Diaspora Affairs to address issues related to security, infrastructure, and ease of doing business, all of which are critical to attracting and sustaining foreign investment. He advocated for consistent collaboration with agencies like the Nigeria Diaspora Commission (NIDCOM) to build on existing policies that protect diaspora interests while supporting Nigeria’s economic agenda.

Hon. Okere also lauded initiatives such as the Nigeria Global Business Match platform and the Global Help Desk, both aimed at connecting diaspora investors with local business opportunities, noting that such tools represent the government’s willingness to adapt to the evolving needs of investors. He called upon diaspora investors to leverage these resources and actively participate in Nigeria’s economic transformation.

“Our future relies on collaboration between policymakers, industry stakeholders, and the Nigerian diaspora. Together, we can build a prosperous, resilient economy that reflects our shared ambitions,” he concluded, emphasizing his commitment to working alongside the diaspora community to bring their ambitions to life.

The event, a hybrid affair with both in-person and virtual participation, offered numerous opportunities for networking and partnerships, and concluded with a gala where several innovative pitches were recognized. Hon. Okere’s remarks echoed the sentiment of collaboration and progress that resonated throughout the summit, fostering optimism for a more investment-ready Nigeria.

By Maymunah A. Zubair

The 7th Nigeria Diaspora Investment Summit (NDIS) 2024, themed “Adapting Stability through Diaspora Investment: Navigating the Path to Prosperity” gathered Nigerians at home and abroad for a hybrid three-day event in Abuja and online. Spearheaded by NIDCOM’s MD/CEO, Hon. Abike Dabiri-Erewa, the summit fostered key investment dialogues and brought together high-profile dignitaries, including representative of President Bola Ahmed Tinubu, Secretary to the Government of the Federation (SGF) Senator George Akume, who delivered the keynote address, alongside prominent legislators and industry leaders.

In her opening remarks, Dabiri-Erewa highlighted the pivotal role of the diaspora in Nigeria’s development. “Our diaspora remains a cornerstone of Nigeria’s potential for growth, and this summit underscores their role as transformative agents,” she said. Her message set a hopeful tone for the discussions and networking that followed, covering a broad range of sectors, from tech and agribusiness to healthcare, manufacturing, real estate, and the creative industry.

In his keynote, the SGF Senator George Akume emphasized the government’s commitment to an enabling investment climate, stating, “Nigeria’s potential is vast, and with the expertise and investments from our diaspora, we can fuel sustainable development.”

Senator Victor Umeh, Chairman of the Senate Committee on Diaspora Affairs, also addressed the gathering, stressing the importance of sustainable investments. “Our diaspora community is essential to Nigeria’s future. Their resilience and innovation are key to driving sustainable economic growth,” he remarked. Echoing similar sentiments, Honorable Tochukwu Okere, Chairman of the House Committee on Diaspora Affairs, added, “Platforms like NDIS are essential in creating the bridge between Nigeria and our global diaspora community. The connections and investments made here can fundamentally transform our economy.”

Ambassador Bolaji Akinremi, Director of Trade and Investment at the Ministry of Foreign Affairs, further encouraged participants to explore available government resources, especially the Global Business Match platform. “This platform provides a unique opportunity for Nigerian businesses and global investors to connect, collaborate, and create lasting economic impact,” he stated.

The Directorate of Technical Cooperation in Africa (DTCA), co-organizers of the event, also voiced support through Ambassador Rabiu Dagari, represented by Okeoghenemaro Sefia, who noted, “This summit represents a collective effort to drive Nigeria forward, fostering partnerships that extend across borders.”

The event culminated in a gala night and awards ceremony, celebrating innovative pitches and outstanding contributions from diaspora entrepreneurs. Many deals were closed, and new partnerships formed, underscoring the potential of the Nigerian diaspora to drive substantial economic progress and establish Nigeria as a thriving business hub on the global stage. Diaspora Investment Summit Forges Path for Economic Growth and Global Partnerships