From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu, Aliko Dangote and Nollywood veteran, Richard Mofe-Damijo, are some of the high profile individuals expected to grace the Seventh Nigeria Diaspora Investment Summit set to take place from November 5 to 7, 2024, at the State House Conference Hall.
Organised by the Nigerians in Diaspora Commission (NiDCOM), in collaboration with the Nigeria Diaspora Summit Initiative (NDSI), this year’s theme is “New Vistas, New Aspirations, New Visions: The Diaspora and National Development.”
Addressing news men, the chairman/CEO of NiDCOM, Abike Dabiri-Erewa, emphasised the summit’s importance, stating, “The Nigerian Diaspora holds a unique position that enables them to contribute significantly to the nation’s development.”
She noted that the diaspora’s involvement was essential for addressing Nigeria’s socio-economic challenges and boosting investment prospects.
Launched in 2018, the Nigeria Diaspora Investment Summit, has become a vital platform for diaspora engagement, connecting investors with local entrepreneurs across various sectors. “Through this initiative, members of the diaspora have been empowered to channel their resources and expertise into fostering economic growth,” Dabiri-Erewa added.
The NiDCOM boss listed local enterprises that have been empowered with the summit.
One notable success story, she said, is Kilimo Nishati that engaged in a public-private partnership with the Ondo State Government to revitalise dairy operations. She added that the collaboration leveraged local expertise and investment, showcasing how diaspora participation could enhance agricultural productivity.
She said the second success story was the Royal School of Education Therapy (RSET) which received a N2 million grant for training special education teachers. Dabiri-Erewa said the funding enabled RSET to improve its services for pupils with disabilities, demonstrating the summit’s role in promoting social impact through education.
In the realm of finance, she said Quebec Food Processing Industrial Parks Ltd secured an impressive ₦462 million in equity financing following their participation in the summit.
This partnership underscores the potential for diaspora investors to infuse capital into vital sectors of Nigeria’s economy.
Similarly, she said Adubiaro Farms attracted nearly ₦50 million in investments by pitching their business at the NDSI. Such financial support not only aids individual businesses but also contributes to job creation and economic diversification.
Dabiri-Erewa added that the NDSI has facilitated countless partnerships, with many participants exploring new opportunities. She cited iSTEMLabs Africa which she said was currently negotiating a partnership with NiDCOM to establish a software engineering campus, while the Ondo State Development and Investment Promotion Agency (ONDIPA) has received interest from international partners for chocolate distribution after last year’s summit.
She also said a multimillion-dollar movie production involving industry veterans was underway as a direct result of connections made through the NDSI, highlighting its influence on creative sectors.
She said this year’s summit would address critical sectors such as finance, ICT, agribusiness, healthcare and renewable energy. The event aims to create job opportunities and drive innovation by facilitating partnerships between diaspora investors and Nigerian SMEs.
“The impact of direct engagement by the diaspora has strengthened local enterprises’ capacity to compete on a larger scale,” she explained.
She said President Tinubu would serve as the special guest of honour, highlighting the administration’s commitment to leveraging diaspora contributions for national development.
Dangote, she said, would be the guest speaker on the first day, sharing insights from his extensive business experience in Nigeria. The second day will feature John Olajide, delivering the keynote address, with prominent entertainment figures like Richard Mofe-Damijo also expected to attend.