President Bola Tinubu, Aliko Dangote and Nollywood veteran, Richard Mofe-Damijo, are some of the high profile individuals expected to grace the 7th Nigeria Diaspora Investment Summit set to take place from November 5-7, 2024, at the State House Conference Hall.
Organized 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 is essential for addressing Nigeria’s socio-economic challenges and boosting investment prospects.
Launched in 2018, the Nigeria Diaspora Investment Summit, she said 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, which engaged in a public-private partnership with Ondo State to revitalise dairy operations. She added that this collaboration leveraged local expertise and investment, showcasing how diaspora participation can enhance agricultural productivity.
The second success story she said is the Royal School of Education Therapy (RSET) which received a ₦2 million grant for training special education teachers. Dabiri-Erewa, said this 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, the NiDCOM boss said 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, Adubiaro Farms, she said attracted nearly ₦50 million in investments by pitching their business at the NDIS. Such financial support not only aids individual businesses but also contributes to job creation and economic diversification.
Dabiri-Erewa, added that the NDIS has facilitated countless partnerships, with many participants exploring new opportunities. She said for instance, iSTEMLabs Africa is 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 engaging at last year’s summit.
She also said a multimillion-dollar movie production involving industry veterans is underway as a direct result of connections made through the NDIS, highlighting its influence on creative sectors.
She said this year’s summit will 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 will serve as the special guest of honour, highlighting the administration’s commitment to leveraging diaspora contributions for national development.
Dangote, she said will 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.
