BusinessInvestingNiDCOM, NIPC Synergise on Diaspora Investment Incentives

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ABUJA — Mrs. Abike Dabiri-Erewa, Chairman, Nigerians in Diaspora Commission (NiDCOM) has emphasised the need for collaboration with the Nigerian Investment Promotion Commission (NIPC) on diaspora investment incentives.

This is contained in a statement signed by Gabriel Odu, Media, Public Relations and Protocols Unit of NiDCOM on Tuesday in Abuja.

Dabiri-Erewa noted that such collaboration “a necessary step toward for national development.

She was quoted as speaking at a strategic meeting with the Executive Secretary of the NIPC, Ms
Yewande Sadiku in Abuja.

NiDCOM boss urged the NIPC to link up its IGuide Nigeria Website with NiDCOM to guide investors on potential investment portfolios domiciled in various states across the country.

Responding, Sadiku said that a study, funded by the Department for International Development (DfID) was carried out to better understand diaspora investment in Nigeria.

She noted that 70 per cent of inflows of diaspora
investment were for family support while 30 per cent went into real estate development.

According to Sadiku, Nigeria receives more money from its diaspora as much as it does from crude oil.

“The diaspora remittances are a global booming business, and if converted to investment, will enhance the gross domestic product,’’ she said.

NIPC boss added that Nigerians living in the diaspora were more interested in impact investment

“But their major challenge is finding the right partners to do business with.’’

Sadiku urged NiDCOM to collaborate with state
governors to encourage their diasporans to invest in projects that would enhance national development.

The two chief executives officers agreed that NiDCOM would be accommodated on NIPC
One-Stop Investment Centre (E-OSIC) for easy access by investors.

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