Nigeria, Africa's largest oil producer, has announced an ambitious plan to establish a $10 billion diaspora fund aimed at tapping into the wealth of its citizens living abroad.

This move, orchestrated by the Ministry of Industry, Trade, and Investment, is designed to attract substantial dollar inflows to bolster the country's critical sectors such as infrastructure, healthcare, and education.

Objectives of the Diaspora Fund

Cultural and Economic Ties: The fund is a strategic effort to reinforce the connection between Nigeria and its nearly 20 million diaspora population, viewing them as pivotal agents of change.

Promoting National Development: By harnessing the diaspora's potential, Nigeria aims to drive significant advancements in key areas of its economy.

Read More: https://africafactszone.com/nigeria-to-launch-10-billion-diaspora-fund/

Good initiative from unstable admin.

Which diasporan will entrust his hard earned money to an unknown entity masquerading as president


Na Reno omonkey talk am oo😂

Toh

The Diasporian fund is equally a good initiative by the federal government. I believe the idea is to grant the Diaspora ability to invest and get interest on their investment,if well managed it will be a wonderful pool of funds and another avenue for government to earn income
I also want to use this opportunity to advise government to further look at removing bottlenecks associated with local industries earning foreign exchange for their services in Nigeria. I am presently in the Real Estate Field and we opened an online portal to allow Nigerians both locally and in the Diaspora opportunities to buy Real Estate in Nigeria

All the payment gateways we approached informed us that all the International platforms will not be opened to us except the local markets,after doing all the necessary KYC,it was still not open. The Excuse was that Government sees the Real Estate Industry as volatile and so it is closed to the Diaspora market.
Any serious country will remove all the unnecessary logjam and open such avenues for the Local industries to earn foreign exchange legitimately,if the Goverment can open a Diaspora fund they should as well open up the local market to the Diaspora also

You can check my signature for more information on the online portal

A failed bid. Dead on arrival

Why not invest such huge amount of money into our vocational training system.It will reduce our dependant on imported manufacturing and technical goods and services.Empowering some private technically sound individuals and technologically advance people without any nepotism