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Diaspora Fund Set Up To Boost Transformation Agenda – Minister
The Federal Government says plans have reached an advanced stage to set up a “Diaspora Fund’’ to enable Nigerians residing abroad to contribute to its Transformation Agenda.
Dr Olusegun Aganga, the Minister of Trade and Investment, disclosed this on Monday in Abuja at the “5th National Diaspora Conference’’.
Aganga said that the fund would be managed by a private sector fund manager with a good track record.
He added that the manager would also provide periodic reports to contributors of the scheme on the performance of the fund.
“The government views its Diaspora like an untapped pool of oil; our goal is to put a formal structure around these relationships so we can harness them directly to contribute to the transformation agenda.
“One of the most promising ideas is the Diaspora Fund; once we conclude our plans and this fund is made operational, we will solicit your support in the marketing of this fund to fellow Diaspora members,’’ Aganga said.
According to him, the fund will be listed on the floor of the Nigeria Stock Exchange to ensure tradability and transparency.
The minister said that the fund would also be protected by local financial regulations and would enjoy the reliability offered by the rules.
He said the proceeds from the fund would be invested in flagship infrastructure projects such as power, housing, roads and airports.
Aganga said that a research carried out by the African Development Bank had shown that Nigeria had the potential to raise as much as two billion dollars, adding: “with your help, we believe this will be achieved’’.
On brain drain, the minister noted that the country was losing some of its best trained minds and attributed it to differences in wages.
“In spite of the foregoing, a Diaspora has the potential to contribute more than funding to the development of its home economy. The currents of globalisation have increased skilled labour and capital mobility.
“As knowledge is becoming an important part of the formulation which makes up the global economy, you can begin with knowledge transfer from the Diaspora back to the home country through collaboration, mentoring and training’’.
The minister urged Diaspora members to establish research institutions to help in capacity building through transfer of knowledge.
Earlier, Sen. Anyim Pius Anyim, the Secretary to the Government of the Federation (SGF), had said that the conference was conceived to enable Nigerians in the Diaspora contribute their quota to the development of the country.
Also speaking, Mr Ganiyu Dada, the Diaspora Representative and Chairman, Board of Directors, Nigeria Diaspora Organisation Abroad (NIDOA), assured the Federal Government that they would mobilise resources and invest in the country.
The Governor of Rivers State, Sir Siminalayi Fubara, has begun the celebration of Nigeria’s 65th Independence anniversary with a Juma’at service where prayers were offered for the progress of the state and Nigeria.
Governor Fubara, who advocated for peace and unity of Nigeria during the prayers on Friday at the Rivers State Central Mosque, Port Harcourt, indicated that without peace, the accelerated development of Nigeria will remain in a limbo.
Governor Fubara, who was represented by Alhaji Abdurrazaq Diepriye, therefore urged citizens to remain patriotic.
According to him, “Allah has brought us this far. Without peace, we can not have progress and economic development. I call on all citizens irrespective of creed or tribe to remain patriotic.”
He thanked President Bola Tinubu for restoring peace in Rivers State while also using the forum to appreciate security agencies for their relentless effort in upholding the peace and unity of Rivers State and Nigeria.
The Chief Imam of Rivers State Central Mosque, Imam Ibrahim Yaloo, admonished Moslem faithful to always speak the truth, adding that those who obey Allah will be directed to good deeds and their sins forgiven.
Prayers were offered for Rivers State and Nigeria.
Other activities to mark the 65th Independence anniversary in the state include an Inter-denominational Church Thanksgiving Service on Sunday, 28th September and Parade Ceremony on Wednesday, 1st October.
Vice-President Kashim Shettima departed New York on Sunday after representing President Bola Tinubu at the 80th session of the United Nations General Assembly.
In a statement released on Sunday by the VP media aide, Stanley Nkwocha, the Vice President is now headed to Germany, where he will hold strategic meetings with officials of Deutsche Bank.
The statement read, “Vice President Kashim Shettima has departed New York, United States, after successfully representing President Bola Ahmed Tinubu, GCFR, at the 80th Session of the United Nations General Assembly.
“During his participation at UNGA 80, VP Shettima secured UN Secretary-General António Guterres’ commendation for Nigeria’s bid for a permanent UN Security Council seat.
“He also showcased Nigeria’s $200 billion energy transition opportunity to global investors and strengthened strategic partnerships with the UK on trade, defence, and migration issues.”
Nkwocha added that the VP delivered Tinubu’s national statement, calling for UN reforms and a permanent seat for Nigeria at the UN Security Council, and “demanded Africa’s control over its $700 billion mineral wealth, and digital inclusion initiatives.”
“He also engaged with the Gates Foundation on healthcare and education expansion, positioning Nigeria as the natural hub for the African Continental Free Trade Area’s $3.4 trillion market.
“VP Shettima was seen off at John F. Kennedy International Airport, New York, by cabinet Ministers who were part of the UNGA 80 delegation and Nigerian Mission officials.”
The aide noted that Shettima will return to Nigeria immediately after his engagements in Germany.
The Tide source recalls that the VP departed Abuja, yesterday.
He led other Nigerian officials at the Assembly.
As part of Nigeria’s 65th Independence anniversary celebration, the Federal Government held a special thanksgiving service on Sunday at the National Ecumenical Centre in Abuja to offer prayers and give thanks for the nation.
The event drew top government officials and security chiefs, including Senate President Godswill Akpabio and Secretary to the Government of the Federation, George Akume, as well as their spouses.
Other notable guests included Finance Minister and Coordinating Minister of the Economy Wale Edun, former Plateau State Governor, Senator Simon Lalong, and the Chief of Defence Staff, General Christopher Musa, who led the service chiefs in attendance.
Service chiefs present included the Chief of Naval Staff, Vice-Admiral Emmanuel Ogala, Inspector-General of Police Kayode Egbetokun, Comptroller-General of the Nigerian Immigration Service, Mrs Kemi Nandap and Controller-General of the Nigerian Correctional Service, Sylvester Nwakuche, among others.00
The service came days after the government unveiled the official theme and some of the activities slated for the 2025 Independence celebrations.
This year’s anniversary is tagged “Nigeria @ 65: All Hands on Deck for a Greater Nation,” as announced by the Director of Information and Public Relations at the Office of the Secretary to the Government of the Federation, Segun Imohiosen, in a statement on Wednesday.
“As part of activities to mark the 65th Independence Anniversary, the Juma’at Prayer and the Inter-Denominational Church Service will be held on Friday, 26th September at 1 pm and Sunday, 28th September at 10 am respectively, as well as the World Press Conference on Monday, 29th September at 10 am,” he said.
The Tide source had earlier reported that President Bola Tinubu, alongside former Heads of State, Yakubu Gowon, Olusegun Obasanjo and Goodluck Jonathan, is expected as a special guest at a national discourse convened by the Island Club, Lagos, to mark Nigeria’s 65th Independence Anniversary.
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