The Nigerian government has unveiled a groundbreaking initiative aimed at harnessing the financial resources and expertise of its diaspora community to drive economic development.
Doris Uzoka-Anite, Minister of Industry, Trade, and Investment, announced plans to establish a $10 billion diaspora fund during a post on X, indicating the government’s commitment to attract investments from citizens residing abroad.
The fund, designed to support critical sectors such as infrastructure, healthcare, and education, seeks to stimulate economic growth and create opportunities for sustainable development.
Uzoka-Anite highlighted that the fund will be managed by qualified asset managers selected through a competitive bidding process, with a focus on maximizing returns while promoting national interests.
According to Uzoka-Anite, the fund will offer various investment platforms tailored to attract diaspora investors and facilitate contributions to Nigeria’s socio-economic advancement.
With an investment period ranging from three to five years and a lifespan of 10 years, extendable by two years, the fund presents a unique opportunity for diaspora investors to actively participate in Nigeria’s journey towards sustainable prosperity.
Interested firms, including joint ventures and greenfield funds, are encouraged to submit their applications by May 6.
