Ministry of Foreign Affairs to promote bonds among Nigerians in diaspora
The Ministry of Foreign Affairs has stressed the need to promote bonds among Nigerians in the diaspora to enable them to contribute to nation-building.
The Minister of State for Foreign Affairs, Ambassador Zubairu Dada, stated this during a symposium with the Directorate of Technical Cooperation In Africa (DTCA) themed; “The Nigerian Diaspora Bond; a tool for National Development- the journey so far,” in Abuja, the nation’s capital
Dada, represented by Ambassador Usman Dakuri, said that the Diaspora Bond was truly a tool for achieving economic growth and development in the country.
“The Nigerian authorities have developed an effective and efficient funding mechanism to compliment the other sources of funds through diaspora bond as an alternative framework of sourcing additional financial support,
“In order to fill the financial gaps created as a result of high demand and competition by many governments and of further attracting Foreign Direct Investment.
“Therefore, Nigerians in Diaspora should take advantage of this investment opportunity which will catalyse the development of the country.
“Diasporas play a critical role in supporting sustainable development by transferring resources, knowledge and ideas back home as well in integrating their countries of origin into the global economy.”
The DTCA Director-General, Rabiu Dagari, said that Nigerians in Diaspora were positive investments for national development through the Nigerian Diaspora Bond.
According to Dagari, the diaspora bond which realised 300 million dollars opened a new source of financing for the Federal Government for funding projects that will develop the country.
“Therefore, we aim at promoting a more robust engagement of diaspora in relation to the operationalisation of the Nigerian Diaspora Bond.
“We will examine and improve the mechanism for sustainability of the bond in the short, medium and long term to achieve the stated goal of Leveraging Bond for Sustainable National Development.
“We also appeal to the government to promote transparent and effective utilisation of the bond, to assure diaspora investors of the security of their contribution to country’s development.”
The former Minister of State for Foreign Affairs, Baudu Hirse, commended the committee for organising the meeting and also appreciated Nigerians in Diaspora for remitting to the country.
“In terms of remittances, Nigerians in Diaspora have been doing a lot for us even though there are certain factors discouraging them but this symposium will be tackling the factors, especially when it comes to risk,’’ he added.
50 people, including Nigerians in Diaspora, participated in the one-day symposium via Zoom.
NAN/PIAK
