FG urges Nigerians abroad to invest in nation’s economy

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*Photo L-R: Dabiri-Erewa, Mustapha.

The Vice President of Nigeria Prof. Yemi Osinbajo says the Nigeria Diaspora Investment Summit in its  four years, is unarguably one of the surest means of securing investments and as deliberate, effective and sustainable strategy for attracting inward investment into Nigeria’s robust economy.

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The Vice President said this through  the Secretary to the Government of the Federation, Mr Boss Mustapha  at Fourth Nigeria Diaspora Investment Summit opened in Abuja.

Prof. Osinbajo stated that the federal government has amplified certain means of ensuring a better and easy way in the country which include among others:

i. Putting the economy on a path of increasing per capita income to avert the past trend of higher population compared to the real GDP growth.

ii. Broad-based economic growth of about 3.8 percent on average; with non-oil GDP growth of 4 percent and oil GDP growth of 2.1 percent.

iii. A more competitive non-oil sector; and a more robust and resilient economy that is less dependent on the oil sector.

iv. Increasing employment generation with a projected increase of about 25 million; with 10 million from direct growth impact and 15 million from skill-acquisition and other interventions.  The projected real GDP growth during 2021-2025 would thus be sufficient to ensure that 10 million people do not fall into poverty.

v. An additional number of 25 million people will be taken out of poverty, ensuring that poverty rates will be at 31 percent by 2025 compared to 40 percent in 2020.

In the same vein, the  Minister of State for Foreign Affairs, Amb. Zubairu Dada remarked that the summit has perpetually sought ways of improving itself; thus providing richer contents that are beneficial to stakeholders.

Also, the  Minister for Works and Housings, Mr. Babatunde Fashola, SAN said that Nigeria is on the move towards economic progress. He said that  the ministry has the cooperative housing schemes,  available to get funding from the FMBN to pay and develop the houses, including a specially designed online portal.

Additionally, Amb. Mariam Yalwaji Katagum, the Minister of State for Industries, Trade and Investment, said to make business favourable for even Nigerians in the Diaspora to enjoy, the FG established the Presidential Enabling Business Environment Council (PEBEC) ‘to eliminate bureaucratic barriers to doing business in Nigeria and make the country a progressively easier place to start and grow a business’, and attract foreign direct investment into the country.

Hon. Abike Dabiri-Erewa, the Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM),  in her opening remarks,  said that the theme: ” Partnerships & Linkages for Post-COVID Growth”, is apt and timely as it comes at a time the world is progressively returning to normal activities.

Similarly, Dr. Badewa Adejugbe-Williams, Summit Coordinator, reinterates that over the years,  SMEs and other businesses have seized the opportunity  to grow and expand businesses and networks, a cardinal objective of  the Summit.

Highlights of the event was the official launch of the Diaspora Housing Fair, commissioned by Mr. Boss H. Mustapha, the Secretary General of the Federation; and  Mr Babatunde R. Fashola SAN, the Minister of Works and Housing.

Meanwhile, Governor Abubakar Atiku Bagudu of Kebbi State and Governor Abdullahi Sule of Nassarawa State, called on Diaspora investors to their respective  states, given  the plethora reserve of raw materials, solid minerals and agro  business ventures and funding.

The Summit ended Tuesday November 17, 2021 with over Forty pitchers, business partnerships and linkages being established and brokered.

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