The Nigerian Diaspora Summit Initiative (NDSI) in partnership with the Nigerians in Diaspora Commission (NiDCOM) have opened the fifth edition of the Nigeria Diaspora Investment Summit (NDIS) in Abuja.
The annual event attracted Nigerians locally and globally from all walks of life to attend the hybrid investment Summit.
Hon. Abike Dabiri-Erewa, Chairman/CEO NiDCOM, represented by Engr. Dr. Sule Yakubu Bassi, Secretary to the Commission, stated that a greater degree of recognition should be accorded to the Diaspora Community, numbering over 17 million Nigerians, who have contributed over $20billion dollars in remittances to the economy in 2021.
Dabiri-Erewa maintained that the Diaspora engagement was not only demographic but also more of an economic factor towards national development which has translated to the Diaspora Direct Investment (DDI).
She remarked that the NDIS has over the years served as a linkage between entrepreneurs and investors, home and abroad, in major business specialisations which have successfully given rise to job opportunities, economic growth and more taxable income to the Federal Government.
The NiDCOM Boss said that the event is currently focused on the grassroots investment and sub-national levels because, “that is where the opportunities are for real. time investments.
She recalled that last year’s thematic focus was on Borno and Nassarawa States, while this year targeted Ondo State and its plethora of viable businesses for investment.
The Coordinator of the Investment Sunmit, Dr. Badewa Adejugbe-Williams, said that the Summit for the fifth time running have birthed many success stories.
Williams maintained that such stories were possible because of the robust business policies especially the presidential initiative on ease of doing business in Nigeria .
She commended Hon. Abike Dabiri-Erewa, for her innumerable support and hope for another productive engagement.
Mr. Bimbo Roberts Folayan, Founder, Nigerian Diaspora Direct Investment Summit (NDDIS) who joined virtually said that the Summit is a laudable project which has jointly engaged Nigerians home and abroad to develop keen attachment to the development of homeland, Nigeria.
Mr. Folayan added that trust should be a key factor in creating a conducive business environment.
Meanwhile, Federal Government has disclosed that it is set to launch a special mortgage loan scheme for Nigerians living in diaspora before the year ends in a bid to provide safe and decent opportunities for them to own property in the country without necessarily coming back home physically.
The Managing Director of the Federal Mortgage Bank, Hamman Madu, made the disclosure at the 5th Nigeria Diaspora Investment summit,
He said Diaspora Mortgage loan scheme, an initiative of the bank, will help bridge the housing deficit gaps in the country.
He said, The Federal Mortgage Bank of Nigeria, had recognised that Nigerians in the diaspora contribute significantly to their host communities and Nigerian economies.
He added that the monies remitted back home has helped to stabilise the country.
According to him available statistics, show that there are over 20 million Nigerians in the diaspora and in the last one year, monies remitted back home is in excess of $20 billion.
Madu said: “You invest in your family, friends and the country leading to a huge economic transformation. It is in view of the foregoing and in order to broaden the mandate of Federal Mortgage Bank of Nigeria, that we developed a national housing fund product for Nigerians in the diaspora.
“This product will afford Nigerians in diaspora the opportunity to register with the National Housing fund Scheme, make monthly contributions and ultimately be able to access mortgage loans at reasonable rates in order to own their own houses back home without having to physically come to Nigeria before they can participate.
“The product is the Diaspora National Housing Mortgage fund. The long window offers the Nigerians in the diaspora mortgage loans to build or to develop houses or to buy and develop houses in Nigeria.
“So why this product or this type? The product provides an opportunity to own a decent home at home. Man naturally ventures out to search for enduring means of livelihood and thereafter instinctively, head home. His only impediment usually in any home is the absence of a decent accommodation to go back to.
“This product therefore provides him the opportunity to own such a decent home anywhere in the country. That is why the bank, the Federal Mortgage bank of Nigeria developed the Diaspora mortgage bank programme, targeted at Nigerians living outside the shores of this country to give them an opportunity to participate and benefit from the national housing scheme.
“It is also established that the volume of money remitted to Nigeria by our brothers and sisters in the diaspora is usually large. Though part of these remittances are for family upkeep and other needs.
“A large chunk of it is usually meant for investment in residential development back home. And many of such investments, usually fail to achieve the aspiration of our Nigerians in diaspora and therefore end up alienating them from coming back to Nigeria. “
The MD, Federal Mortgage Bank of Nigeria (FMBN), Mr. Haman Madu stated that with the Diaspora Housing packages available, he emphasised that trust and honesty are the twin investments portfolio needed to establish and sustain businesses as well as services by and for Nigerians in the Diaspora.
The NDIS 2022 is the fifth edition of the Summit. The three-day event has as theme: “Optimising Investment Opportunities for National Development”.
