No fewer than 5000 Nigerians living abroad are scheduled to attend the 2021 Nigerian Diaspora Investment Summit (NDIS), according to Nigeria’s Diaspora Commission (NiDCOM).
WithinNigeria gathered that the conference will focus on diaspora investment in the country, with the topic of “Diaspora Partnership and Linkages for Post-COVID Economic Growth.”
The event is expected to yield investments in agribusiness, education, healthcare, creative, entertainment and sport, infrastructure and real estate, manufacturing, telecommunications, ICT and Fintech, and oil and gas, according to Gabriel Odu of the Nigerians in Diaspora Commission’s public relations unit, who made the announcement in a statement.
According to the release, NiDCOM Chairman Abike Dabiri-Erewa stated that the summit would help the government’s present focus on providing support for small businesses and agriculture through enormous infrastructure development.
Vice President Yemi Osinbajo will start the summit, which will take place in the Presidential Villa in Abuja from November 16 to 17.
‘Diaspora Partnership and Linkages for Post-COVID Economic Growth’ is the focus of the two-day conference.
Report reaching WithinNigeria is that the summit, according to Dabiri-Erewa, is a private-sector effort supported and enabled by the federal government VI’s NiDCOM.
“Targeting Nigerians in the Diaspora for inward investment is perhaps the best option, especially given the country’s elevated risk profile.”
“This is further supported by the fact that a significant proportion of first and second-generation Nigerians in the Diaspora belong to a small but rising demographic group that is experiencing increased affluence and disposable income in the cultures where they live.”
“They have typically paid off their mortgage, educated their children through college, and are either retired or retired, with a desire to achieve self-actualization in order to leave a legacy for the next generation.
“Unlike international investors, they are not too swayed by the country’s unfavorable risk profile, but are motivated by a sentimental pull, a great desire to contribute to the development of their own country for their children and grandchildren,” she said.
She continued, “The summit will focus on vital economic sectors such as agribusiness, education, healthcare, creative, entertainment, and sport, infrastructure and real estate, manufacturing, telecommunications, ICT, FinTech, and Oil and Gas.”
According to the NiDCOM chair, the two-day event’s theme emphasized the crucial role Diasporas play in helping other countries achieve great economic growth and progress.
According to her, the summit emphasizes the fact that Nigerians in the Diaspora are now the country’s largest net contributor to FDI flows, with $25 billion remitted in 2018.
“This year’s conference follows the government’s recent focus on offering extraordinary support to small businesses, agriculture, and enormous infrastructure construction.
“Given that these are the top three job-creating industries in every economy, the summit organizers’ decision to prioritize them is justified.”
“As a result, diaspora investors will be encouraged to channel their investment towards these, as well as other areas,” she said.