The Bank of Industry and Office of Senior Special Assistant on Foreign Affairs and Diaspora on Tuesday signed a memorandum of Understanding on business development initiative.
The acting Managing Director BoI, Waheed Olagunju, said at the signing ceremony in Abuja that the MoU was to help Nigerians in diaspora invest in Nigeria.
According to Olagunju, the partnership is also to provide a structured platform for mobilising the resources of Nigerians in diaspora toward national development.
He said there were millions of highly talented Nigerians in diaspora who had acquired qualifications and skills that wanted to invest in Nigeria.
According to him, what these Nigerians need is a structure platform to enable them give back to the country.
He said: “Some of these Nigerians have acquired skills and become experts in their various callings and professions.
“Many of them are also wealthy, they have substantial financial resources and they are sentimental about Nigeria and want to make their contribution toward national development.
“No matter what they are out there, their fatherland is still a point of reference. If all is well at home, it enhances their dignity.”
Olagunju said in the past, a lot of things had gone wrong in terms of initiative, adding that that was why the country had not achieved the desired results in this regard.
Olagunju said the platform was going to be a structured channel with the support of the Federal Government, BoI being a government development financial institution.
He said: “It is part of our mandate to mobilise resources from within and outside the country for national development.”
Olagunju further said statistic reports showed that an average of $20 billion to $35 billion came annually to Nigeria from Nigerians in diaspora.
He added: “So what we need to do is to ensure that these resources are properly harmonised for national development.”
Abike Dabiri-Erewa, the Senior Special Assistant on Foreign Affairs and Diaspora, said the initiative would create change about Nigerians in diaspora wanting to invest in the country.
Dabiri-Erewa said: “For the first time, we want to have a structured coordinated approach to Nigerians in diaspora who want to be part of investment in their country.
“We are talking about huge talented, experienced and successful Nigerians in diaspora who want to invest back home.
“So we are providing a platform to enable them to invest.
“We look forward to a move that will impact positively on Nigerians, Nigeria in diaspora and the nation.”
Dabiri-Erewa commended the BoI for putting in many efforts in leading the way in such initiative.
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