Business
Jonathan Partners Nigerians In Diaspora For Development
President Goodluck Jonathan, has reiterated the determination of his administration to ensure that more Nigerians in Diaspora get involved in the development of their fatherland.
Jonathan gave this assurance at a dinner in honour of Nigerians in the Diaspora, held at the Banquet hall, Presidential Villa, Abuja.
The Nigerians were in the country for the 6
th Diaspora Day celebrations, tagged: “Diaspora Nigerians: Agents of Investment and Development”.
The president, who was represented by Vice President Namadi Sambo, urged them not to relent in their efforts to make valuable contributions toward national development.
“Like most developing countries in the world, Nigeria must leverage on the huge human capital of our nationals living abroad to impact on the development process at home.
“Our ultimate goal is to engage Nigerians with the requisite knowledge expertise and financial acumen to join in the development of the Nigerian state irrespective of their country of abode,” he said.
While assuring them that his administration would continue to sustain their partnership, Jonathan said government was looking forward to receiving their recommendations.
“All hands must be on deck to realise the goals enshrined in the transformation agenda.
“I wish to assure you of our unalloyed commitment to transform this country. We remain resolute in our chosen path in doing all that is necessary to achieve this goal.
“We will continue to create the enabling environment that would allow all those who desire the space to join in our national development endeavours.
“Our doors remain open to useful, patriotic and constructive suggestions that will assist us in bringing the dividends of democracy to the populace thereby transforming their standard of living and wellbeing,” he further stressed.
President Jonathan commended the Diasporas for their continued interest in the affairs of the country and saluted them for their courage.
In his remark, the Secretary to the Government of the Federation, Senator Anyim Pius Anyim congratulated the Diasporas for a successful week long of activities, urging them to do more for their beloved fatherland.
In her thought provoking presentation, a 13-year old visually impaired author, Miss Adeife Adeniran, appealed for the strict implementation of the ideas and discussions that came out of the conference.
She advocated for the active participation of youths in future conferences.
Cultural troupes from the six geopolitical zones of the country performed to the delight of the audience at the event.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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