President Bola Tinubu’s administration is fully committed to creating an enabling environment where collaboration can thrive between the Nigeria diaspora and home country.
Vice President Kashim Shettima, on Wednesday, said this at the on-going 2025 8th edition of the Nigeria Diaspora Investment Summit (NDIS) holding at the State House Conference Center, Presidential Villa Abuja.
The News Agency of Nigeria (NAN) reports that the event has as its theme; “Fast-Tracking Regional and National Development by Mobilising Diaspora Investment.”
The event, which began on Nov 11, ends on Nov. 13.
Shettima was represented by Amb. Dunoma Ahmed, the Permanent Secretary in the Ministry of Foreign Affairs.
He said that the theme was apt as it expressed the ambition of President Tinubu’s administration to build a Nigeria that would grow from the combined strength of her people, both at home and abroad.
He stated that Nigeria’s prosperity would come faster when the public sector, the private sector, and the Nigerian global diaspora worked together in unity of purpose.
Shettima added that the Renewed Hope Agenda identified the Diaspora as a central pillar of Nigeria’s foreign policy thrust, alongside democracy, development, and demography.
“In line with this, we have launched targeted interventions, such as the Home and Abroad Housing Platform by NiDCOM.
This platform provides a trusted gateway for Nigerians abroad to invest in real estate, turning the dream of owning a home in Nigeria into a secure reality.
“Nigeria’s greatest strength is the ingenuity and resilience of her people.
“Through a ground-breaking partnership between NiDCOM and the National Agency for Science and Engineering Infrastructure (NASENI), we are connecting our Diaspora scientists, engineers, and innovators with opportunities at home.
“Financially, the proposed Diaspora Bond will give Nigerians abroad a direct stake in our nation’s growth, funding major infrastructure projects.
“Reforms like the Non-Resident BVN and a competitive exchange rate have served to encourage formal remittances, leading to a remarkable rise in inflows that sustain millions of households and businesses, which amount to about 21 billion dollars in 2024.
“In all of Mr President’s engagements in the Diaspora, he personally prioritises direct engagement with Diaspora organisations across continents.
“These engagements are not mere symbolic meetings, but strategic dialogues to ensure that your voices find resonance in the policies we craft and implement at home,’’ he said.
Shettima speaking on the MSMEs, acknowledged that they were the cornerstone of Nigeria’s economic growth and social development and the surest means of distributing wealth equitably.
He, however, said that unfortunately, while Nigeria’s over 39 million MSMEs contributed over 50 per cent of the country’s GDP, and employed 86 per cent of country’s workforce, they faced acute challenges, especially access to finance.
“In this regard, the Tinubu’s administration has taken decisive steps such as; the N75 billion MSME Intervention Fund which provides loans to 75,000 businesses.
“The FGN–ALAT Digital Skillnovation Programme which has trained millions in crucial digital skills.
“Through the National MSME Clinics, we have sought to provide help to entrepreneurs as well as resolve regulatory issues on the spot.
“Finally, we are awarding non-repayable grants to outstanding MSMEs across various states of the federation.
“I must, at this juncture, commend NDIS for its pivotal role in bridging the gap between our entrepreneurs and global investors as well as creating tangible opportunities for funding and partnerships.
“The nexus between development and infrastructure advancement is not lost on my government.
“We have, therefore, put infrastructure at the heart of our national development strategy.
“Roads, power, and digital networks are the arteries through which economic life flows. In this regard, our administration has intensified efforts in the following areas:
“Approval of N4.2 trillion for road and bridge projects—our largest single infrastructure investment ever.
“Projects like the Lagos–Calabar Coastal Highway and the Lagos–Ibadan Expressway are transformative economic corridors.
“Approval of N1.3 trillion to settle legacy debts in the power sector and to strengthen the grid, while expanding solar mini-grids to rural areas.
“Laying of over 90,000 kilometres of fibre optic cable to empower our digital economy,’’ he said.
He stated that the projects listed earlier were not mere promises but evidence that Nigeria was making progress.
Speaking at the event, Mohammed Malagi, the Minister of Information and National Orientation, urged Nigerians to desist from portraying the country negatively to the outside world and encouraged them to remain patriotic citizens.
He added that Nigeria had recorded significant successes, which had led to the removal of the country’s name from the Financial Action Task Force (FATF) so-called grey list.
According to him, the delisting had boosted investor confidence, as the grey list previously contained the names of countries that were not performing well in managing the global flow of financial resources.
“So all those who are saying that Nigeria is not doing well in financing the flow of resources around the world; they come here, make money, but repatriate those funds.
“Within the first year of President Toshio Kodama of Japan, every fund that was owned by this airline, they were able to repatriate it outside this country.
“There is no airline now that will say it does not want to operate in Nigeria because it cannot repatriate its funds back.
“The president is saying, by the consolidation of the Presidential Business Council, that whatever you do, bring in your money, do good business here, take your money out, provided you follow our rules.
“This is what we are helping to amplify. So my colleagues, I am also bringing billions into this economy.
“Thank you very much for this opportunity, and I hope that by the time your billions begin to flow better, remember there are some people who have made it possible,’’ he said.
