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Dabiri-Erewa: Diaspora Investment to outweighs FDI soon

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Dabiri-Erewa: Diaspora Investment to outweighs FDI soon

By: Michael Mike

The Nigerians in Diaspora Commission (NiDCOM) Chairman, Abike Dabiri-Erewa has said the plan of the present administration is to work at making the Diaspora investment outweighs the Foreign Direct Investment (FDI),

Briefing journalists in Abuja on Friday on activities lined up for the forthcoming Nigerian Diaspora Investment Summit (NDIS), Dabiri-Erewa said the target of this administration is to ensure that Diaspora Investment in the country outweighs FDI in the nearest future.

The 6th edition of NDIS is scheduled for 13 to 15 November 2023.

NDIS is a private sector initiative supported by the Nigerian government through the Nigerians in Diaspora Commission (NiDCOM), its primary aim is to demonstrate that in the face of stiff competition for Foreign Direct Investment (FDI), targeting Nigerians in Diaspora for inward investment is probably the best strategy for a country like Nigeria with over 15 million of its citizens domiciled in Diaspora.

Dabiri-Erewa disclosed that no fewer than 3,000 participants have indicated interest in the 2023 Nigerian Diaspora Invesvemnt Summit, The Nation learnt.

She noted that this year’s summit aims at attracting Diasporans investment in the area of agribusiness, technology, education, healthcare, real estate and infrastructure. Others are creative, sport and entertainment; energy, mining and manufacturing.

The NIDCOM boss explained that with the current happenings across the globe, Nigeria must stand up to take its place as the number one producer of agricultural produce.

She noted that Nigerian Diaspora in this drive remains a major player in the development of the country, hence the need to harness their investment in the country.

Dabiri-Erewa said the summit is set to ignite new aspirations for Diaspora participation in Nigeria development.

She said, “This year’s summit – a hybrid event enabling remote participation via online channels – is particularly special, being the first under the new administration of HE President Bola Ahmed Tinubu GCFR, and will have as its Special Guest of Honour and Main Keynote Speaker, HE Senator Kashim Shettima GCON, Vice President of the Federal Republic of Nigeria.

“With Heifer International, a nonprofit charity on a mission to end hunger and poverty in a sustainable way as its Lead Sponsor, this year’s summit promises to be a significant milestone in promoting economic collaboration, harnessing opportunities, and fostering a revamped investment climate for Nigeria,” She added.

She also revealed that the Diaspora Housing Mortgage Scheme would be launched by the Honourable Minister, Federal Ministry of Housing and Urban Development, Arc. Ahmed Musa Dangiwa,
during the summit.

The NiDCOM boss said: “As at press time, this year’s summit already has registered, over 2,000 interested participants, including at least 72 identified Nigerian Diaspora investors, 196 small business owners, 148 representatives of private sector entities and 88 public officials from various Ministries, Departments and Agencies who are expected to attend in person, with a further 1,250 expected to participate virtually.”

The Interim Country Director of Heifer International Nigeria, Dr Lekan Tobe said, “NDIS has established itself as the premier platform for connecting Nigerians in the diaspora with opportunities for investment and engagement in the country’s burgeoning industries. NDIS 2023 aims to strengthen the bonds between Nigeria and its diaspora communities while revealing a dynamic view of investment opportunities and prospects in various sectors, particularly Agriculture, which is our focus sector.

“We feel that our goal of assisting more than two million households to achieve sustainable living income by 2030, through strategic private and public sector partnerships that will support the unlocking of the potential in Nigeria’s agricultural sector to achieve food self-sufficiency is fully aligned with that of the summit, as expressed through the NDIS initiative.”

He added that since inception, NDIS has recorded many success stories, both in terms of business connections and social impact. With over 5,000 participants recorded, 900 business links established and over 200 deals closed.

Dabiri-Erewa: Diaspora Investment to outweighs FDI soon

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NESREA Shuts Kano Rice Plant Over Environmental Violations

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NESREA Shuts Kano Rice Plant Over Environmental Violations

By: Michael Mike

The National Environmental Standards and Regulations Enforcement Agency (NESREA) has sealed off a rice processing facility in Kano State, Fortune Rice Mills Limited, over alleged violations of environmental regulations relating to air pollution and offensive emissions.

The enforcement action, carried out on Monday, was led by the agency’s North-West Zonal Director, Dr. Mudashiru Raheem, following investigations into public complaints against the company.

According to NESREA, residents had raised concerns over persistent dust emissions and offensive odour emanating from the facility despite earlier compliance notices issued to the company.

The agency said investigations established that the rice mill violated provisions of the National Environmental (Air Quality Control) Regulations 2014 as well as the National Environmental (Food, Beverages and Tobacco Sector) Regulations 2023, prompting the sealing of the plant.

Director-General of National Environmental Standards and Regulations Enforcement Agency, Innocent Barikor, who authorised the shutdown, condemned what he described as the “reckless attitude” of some industrial facilities towards public health and environmental safety.

Barikor stressed that economic interests must not come at the expense of citizens’ wellbeing and environmental sustainability, warning that the agency would continue to enforce compliance with environmental laws across the country.

“The health of citizens and the environment must not be sacrificed on the altar of economic gain,” he said.

He also called on Nigerians to take greater responsibility for environmental protection by reporting environmental infractions and pollution incidents to the agency for prompt action.

The latest enforcement underscores renewed regulatory scrutiny on industrial operators amid growing concerns over environmental pollution and public health risks in several parts of the country.

NESREA Shuts Kano Rice Plant Over Environmental Violations

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Troops Arrest Suspected Gunrunner in Taraba Over Alleged Sale of 23 Rifles

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Troops Arrest Suspected Gunrunner in Taraba Over Alleged Sale of 23 Rifles

By: Zagazola Makama

Troops of the Nigerian Army have arrested a suspected gunrunner in Taraba State over the alleged sale of 23 AK-47 rifles to a rogue vigilante leader.

Security sources said the suspect was apprehended at about 3:30 a.m. on May 17, 2026, during a joint intelligence-led operation conducted by troops of the 20 Model Battalion and operatives of the Defence Intelligence Agency.

According to the sources, the operatives raided the suspect’s residence at Sabon Gida village in Gassol Local Government Area of the state following actionable intelligence.

The sources disclosed that preliminary findings linked the suspect to the supply of 23 AK-47 rifles to a suspected rogue vigilante commander operating within the area.

The suspect has since been taken into custody by the Defence Intelligence Agency for further investigation and possible prosecution.

Security authorities said efforts were ongoing to uncover the wider arms trafficking network connected to the suspect.

Troops Arrest Suspected Gunrunner in Taraba Over Alleged Sale of 23 Rifles

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The High Cost of Silence: Why President Tinubu Must Sign the Federal Audit Service Bill

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The High Cost of Silence: Why President Tinubu Must Sign the Federal Audit Service Bill

By Paul Dasimeokuma

Nigeria currently manages a staggering ₦68.32 trillion budget through an audit framework that is effectively a colonial relic.

The Audit Ordinance of 1956, which remains the primary reference for federal audit reports, technically ceased to be part of Nigerian law in 1990 and is conspicuously absent from the 2004 Laws of the Federation of Nigeria (LFN).

This creates a legal lacuna, a dangerous, silent void where the nation’s financial watchdog is forced to bark using the authority of an obsolete law that has no place in a modern republic. As President Bola Ahmed Tinubu navigates the Renewed Hope agenda, the Federal Audit Service Bill, already passed by the National Assembly, represents a low-hanging fruit for structural reform that can no longer be ignored.

The current auditing function in Nigeria has devolved into a frustrating exercise in report writing without consequence. Under the present system, the Auditor-General for the Federation (AuGF) produces an annual report, which is then sent to the Public Accounts Committees (PACs) of the National Assembly.

The PACs conduct hearings, invite heads of agencies, and eventually produce their own recommendations. Yet, despite this high-level activity, the cycle of financial felonies and misdemeanors continues unabated.

Evidence shows that audit recommendations are treated with levity by Ministries, Departments, and Agencies (MDAs), and follow-ups are virtually non-existent despite clear Financial Regulations.

The result is a culture of impunity where the same infractions: unvouched expenditures, missing assets, and unremitted revenues—appear in reports decade after decade.

This Bill is the structural answer to this stagnation. It seeks to move Nigeria from a limited, department-based audit model to a modern Supreme Audit Institution (SAI) structure, consistent with global best practices. By transforming the office into a Service, the Bill ensures that auditing is a core pillar of national economic security.

The Bill provides for the establishment of an autonomous Federal Audit Service and a Federal Audit Board. This Board will fundamentally strengthen the independence of the AuGF, particularly concerning recruitment, promotion, and discipline.

Currently, the AuGF relies on the Federal Civil Service Commission for staffing, which often leads to a mismatch in specialised skills. An independent Board ensures the office is shielded from political interference and staffed by professionals answering only to the standards of their craft.

For the first time, the Bill explicitly empowers the AuGF with the power of the purse and the power of sanction. It authorises the AuGF to surcharge public officers for expenditures not duly brought into account and, more importantly, to withhold the emoluments of any person who refuses to reply to audit queries within 30 days. This closes the long-standing accountability gap where audit findings were merely advisory.

In the past, an MDA could simply ignore a query with no personal consequence. Under the new Bill, silence carries a direct financial penalty, providing the legal teeth necessary to compel compliance with financial discipline.
Beyond internal accountability, the Bill is a crucial signal to the international community.

Nigeria was successfully removed from the Financial Action Task Force (FATF) grey list in October 2025, a hard-won victory for the nation’s financial reputation. However, this victory must be protected. The FATF framework explicitly monitors audit oversight of public funds as part of its financial integrity assessments. Maintaining a 70-year-old framework that technically does not exist in our current laws risks signaling to global monitors that Nigeria’s anti-corruption reforms are superficial.

Similarly, the International Monetary Fund (IMF), in its June 2025 Article IV Consultation, called for strong expenditure management and transparent reporting. Assenting to this Bill is an act of economic diplomacy. It tells the World Bank and foreign investors that Nigeria is serious about the transparent implementation of its record-breaking budget.

It aligns the country with the Lima Declaration, which mandates that Supreme Audit Institutions must have the functional independence necessary to perform duties without executive overreach.

The reform window is rapidly closing. With the 2027 election cycle approaching, administrative bandwidth for such structural changes will contract. Transitioning from the 1956 framework and constituting the Federal Audit Board requires significant lead time.

Assent in 2026 gives this implementation a fighting chance to take root. President Tinubu has frequently spoken about the need for courage in governance. Signing the Federal Audit Service Bill is an act of such courage. Nigeria cannot build a 21st-century economy on 1950s paperwork. The time for the Audit Act is now.

Paul Dasimeokuma – Centre for Social Justice

The High Cost of Silence: Why President Tinubu Must Sign the Federal Audit Service Bill

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