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Ministry Of Industry Partners NIDCOM To Boost Diaspora Investment Opportunities In Nigeria

Posted by: Quickresponse | February 13, 2024

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

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

Abdur-Rahman Balogun, Director of Media, Public Relations, and Protocols Unit (NiDCOM), said in a statement made available to quickresponsenig on Tuesday that the Minister commended NiDCOM for partnering with three private sector-led Nigerian Diaspora Summit initiatives (NDSI) to organise the Nigerian Diaspora Investment Summit, which has provided a platform for Nigerians who want to invest.

She said the Ministry would synergize 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 having great potential for investment among those who are passionate about the 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 the removal of taxes on dividends, providing extra security arrangements for Diaspora Investment, and even working 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 six editions.

“We have some requests, which include creating incentives for the Diaspora to come 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 Amb. Bolaji Akinremi, Director of Trade and Investment in the Ministry of Foreign Affairs, and Amb. Nura Abba-Rimi, the Permanent Secretary in the Ministry of Industry, Trade, and Investment, as well as members of the NDIS team.