NIDCOM, NIPC synergise on diaspora investment

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The Chairman, Chief Executive Officer of the Nigerians in Diaspora Commission (NIDCOM), Hon Abike Dabiri-Erewa, has emphasised the need for collaboration with the Nigerian Investment Promotion Commission (NIPC) on Diaspora Investment incentives for National Development

Erewa disclosed this in Abuja at a strategic meeting with the Nigerian Investment Promotion Commission (NIPC) in Abuja.

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.

She disclosed that the Commission is launching her mobile Application to provide easy access to information and petitions.

In her remarks, Executive Secretary, Ms Yewande Sadiku, stressed that a study funded by the Department For International Development (DFID) to better understand Diaspora investment to Nigeria suggests that 70 per cent of inflows of diaspora investment are for family support while the 30 per cent bulk goes to real estate development.

According to Sadiku, “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.

Sadiku 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.

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NIDCOM, NIPC synergise on diaspora investment