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Buhari okays investment trust fund to promote foreign remittances

By Terhemba Daka, Abuja
12 January 2022   |   4:11 am
President Muhammadu Buhari has approved the establishment of the Nigerian Diaspora Investment Trust Fund (NDITF), a private sector window, to support direct investments into the country.

President Muhammadu Buhari (middle); Secretary to the Government of the Federation, Boss Mustapha (fifth left);  Chairman/CEO, Nigerian in Diaspora Commission (NiDCOM) Abike Dabiri-Erewa (fifth right); and some members of  Nigerians in Diaspora, during the presentation of a compendium titled +600 Diaspora Icon at 60 by the President at the Presidential Villa in Abuja…yesterday.

President Muhammadu Buhari has approved the establishment of the Nigerian Diaspora Investment Trust Fund (NDITF), a private sector window, to support direct investments into the country.

Speaking at the presentation of a compendium entitled, +600 Diaspora Icons @ 60, published by Nigerians in Diaspora Commission (NiDCOM), the President said Nigeria “is open to welcoming the Diaspora Direct Investment by compatriots abroad.”

Buhari, who also pledged support for the floating of the Diaspora Intervention Fund to support the commission to fulfil its mandate, noted that foreign exchange remittances by Nigerians abroad have not only helped families, but also enhanced the development index of Nigeria.

He described the 327-page compendium as a “historical record of the worth of our compatriots globally,” adding that the distinguished list in the publication is a reminder of what Nigerians “are capable of doing to the delight of the global community.”

Buhari went on: “Irrespective of the few bad eggs among us, and every nation has such bad eggs, Nigeria remains a great country, populated by great people, living at home or abroad, making us proud.

“This compendium attests to that fact and the names of people and the fields they have excelled, speaks about their resilience and how exceptional Nigerians, both at home and abroad, have become.”

The President reminded Nigerians that it is their duty to extol and celebrate compatriots that excel in their chosen careers and professions.

He added: “No one else will do so for us. Rather, other people will tend to capitalise on the few bad eggs and characterise us in their own narratives, narratives that seek to characterise us in bad light. We must not allow that to happen.

“As we launch the compendium of excellent Nigerians today, we are also celebrating some of our best, nationally and globally.

“I call on every Nigerian, irrespective of where they may be, to continue to be of exemplary behaviour and with determination to offer quality services that contribute to the progress of humanity.”

While congratulating those whose names made it to this first edition, the Nigerian leader encouraged others to work more conscientiously to make the list in the subsequent editions.

Recounting his engagements with Nigerians in Diaspora during his official travels, the President said his Diaspora’s threefold agenda remains unchanged.

“Nigerians in the Diaspora are our Ambassadors-at-Large by their character, comportment and daily actions.

“They should be the best and excel in all their endeavours, and they should ‘give back’ by contributing to the development of Nigeria,” he added.

The President commended the Abike Dabiri-Erewa-led NiDCOM for the energy and innovative steps it has put together to ensure better engagements with the Diaspora community.

In her remarks, Dabiri-Erewa explained that the commission plans to publish the compendium at regular intervals, with a view to changing the negative stereotypes typified by the activities of a few Nigerians, who do not represent the country well.