From Olukayode Idowu
Nigerians in Diaspora Commission (NIDCOM) and Nigerian Investment Promotion Commission (NIPC) have brainstormed on how to boost Diaspora investment for National Development.
Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), Hon. Abike Dabiri-Erewa and Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku both met in Abuja on Tuesday to further plan on boosting repatriation of fund from Nigerians in Diaspora.
A statement signed by Gabriel Odu of the Media, Public Relations and Protocols Unit of NIDCOM said Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM) has emphasised the need for collaboration with the Nigerian Investment Promotion Commission (NIPC) on Diaspora Investment incentives for National Development.
He said this was the position of the NiDCOM boss at a strategic meeting with the Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku.
He said Dabiri-Erewa implored NIPC to link their IGuide Nigeria Website with NiDCOM to guide investors on potential investment portfolios domiciled in various states across the country.
Sadiku disclosed that the Commission is launching her mobile application to provide easy access to information and petitions.
She said: “A study funded by the Department For International Development (DFID) to better understand Diaspora investment to Nigeria suggests that; 70% of inflows of diaspora investment are for family support while the 30% bulk goes to real estate development.
According to her, “Nigeria receives more money from its diaspora as much as it does from crude oil, the diaspora remittances are a global booming business if converted to diaspora investment will enhance the gross domestic product”.
She added that Nigerians living in the diaspora are more interested in impact investment but their major challenge is finding the right partners to do business with.
NIPC Executive Secretary urged NiDCOM to collaborate with State Governors to encourage their diasporans in investing to enhance national development.
The two Chief Executives agreed that NiDCOM will be accommodated on NIPC One Stop Investment Centre (E-OSIC) for easy access by investors.