FEDERAL GOVERNMENT OF NIGERIA(FGN) LAUNCHES $10B NIGERIAN DIASPORA FUND…

 

This new initiative by the Federal Government of Nigeria known as the $10B NIGERIA DIASPORA FUND spearheaded by the Federal Ministry of Industry, Trade, and Investment(FMITI) will no doubt serve as a morale booster for the Nigerian economy that suffered Neglect in various sectors that are crucial to economic growth...It is estimated that Nigeria has a large diaspora population of around 21 MILLION People across various disciplines who are excelling in different segments of life, it is a known fact the Diaspora contributes close to $23B in remittances to Nigerian society which makes it a significant contributor to national growth and development..For example, India one of the World’s most populous nations with 1.8B people harnesses its huge diaspora populace in driving its national developmental aspirations.

In the Nigerian scenario, it needs the resources and funds from its diaspora populace channeled to sectors that can facilitate rapid economic growth, a key example is the PATH agenda by the Babatunde Raji Fashola administration in Lagos State from year 2011-to 2015 which stands for POWER, AGRICULTURE, TRANSPORTATION AND HOUSING with investments channeled into these four critical sectors, can serve as key enablers for the development of Nigeria’s economy creating millions of job opportunities across the Nigerian federation..I desire that the Diaspora fund will serve as a catalyst for developing the Nigerian economy from Medium to Long term with the required leadership and focus.


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