At the opening of the 6th Nigerian Diaspora Investment Summit (13-15 November, 2023), the Nigerians in Diaspora Commission (NIDCOM) highlighted diaspora engagement as key to Nigeria’s economic development.
The Chairman of NIDCOM, Dr. Abike Dabiri-Erewa, on Monday said to go far in repositioning the economy, there is a need to partner with the diaspora and other investors.
According to her, attracting inward investment to the emerging diversified Nigerian economy through platforms where diaspora investors could interact with other potential sponsors, partners, business promoters and the government will require engaging the diaspora through a more effective and sustainable strategy.
“This is why the summit, with this year’s theme being ‘New Vistas, New Aspirations, New Opportunities: The Diaspora and National Development’ is very appropriate because it creates innovative platforms of partnerships, between the government and the diaspora in attracting investment to local businesses, thus enhancing Foreign Direct Investment in the country.
“…Also, facilitating economic transformation through research and the local development of new energy solutions, which is expected to boost cross-sectoral investment cooperation,” Dabiri Erewa said.
She also explained that the summit has given birth to bounteous success stories, in terms of business connections and social impact since its inception.
“With over 5,000 participants recorded, 900 business links established and over 200 deals closed, the NDIS has come into its own as the leading business networking event for connecting Nigerian business owners and NGO operators with Nigerian diaspora-based investors.
“It has also provided a platform for the expectations of attracting diaspora investment to local businesses in diaspora community to give back by providing support for several deserving NGOs,” she added.
Also speaking, the Ambassador of Ireland to Nigeria, Mr. Peter Ryan, said that his country is ready to do whatever possible to promote Nigerian talents and investment.
“It’s a really inspiration morning. Any time the diasporans come together to connect with one another, I think it is worthwhile and really an interesting time for Nigerians in diaspora.
“I am very impressed with what I have seen and impressed with what I have heard, not surprised at all.
“I learnt from Nigerians in diaspora in Ireland that there are so many talented and motivated people ready to work with partners at home and also with partners around the world.
“Anything we can do to support and encourage that, and we know from our own diaspora, the important role that they can play as a partner in national initiatives. And I’m delighted to be part of this, this morning.
“I’ve learnt a lot already. I have learnt also about pitching and about some of the sectoral and entrepreneurship taking place in Nigeria,” he said.
According to the NDIS Summit Coordinator and Chairman, Planning Committee, Dr. Badewa Adejugbe Williams, the summit is all about empowerment and capital development.
“And beyond coming, they’ve got other investors that are looking at the pitches already so they could see what they are going to invest in.
“They also mentor some of the pitchers. It’s not just about giving them the money; it’s about giving them technical capacity so they can mentor them.
“This is not about building government practices. This is about human capital development, building humanity, empowering the micro, small and medium enterprises: the woman, who is selling bournvita or something in the store, that just needs a little lift; the person, who has a tech company, a start-up, and needs just a few to get himself off the ground.
“We’ve recorded tremendous successes that I can guarantee you that today, there’ll also be lots of successes that will be recorded. So it’s been fantastic. It’s been rewarding,” she noted.
The Nigerian Diaspora Investment Summit, with the aim to promote the Nigerian economy by diaspora investment and partners, has over the years been expanding its participants’ network, showcasing their products and services to target audience, such as the diaspora investors, sponsors and government actors.
The opening of the two-day summit had a crowd funding workshop and business pitching from different investors both at home and abroad.
