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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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Nigerian Solidarity Groups Mourn Cubans Killed in Venezuela, Condemn U.S. Actions

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Nigerian Solidarity Groups Mourn Cubans Killed in Venezuela, Condemn U.S. Actions

By: Michael Mike

The Nigeria Movement of Solidarity with Cuba (NMSC) has expressed deep condolences to the government and people of Cuba following the killing of 32 Cuban internationalists in Venezuela.

In a press statement issued in Abuja on Saturday, the pro-people coalition, which includes labour unions, civil society organisations and intellectuals, alleged that the Cuban nationals were killed during an attack in Caracas on January 3, 2026, while protecting Venezuelan President Nicolás Maduro, his wife, Cilia Flores, and what it described as the sovereignty of Venezuela.

The group said the Cubans chose to resist despite being overwhelmed, describing their actions as a demonstration of courage, honour and commitment to international solidarity.

NMSC drew parallels between the incident and past historical events where Cuban nationals were involved in overseas struggles, including the 1983 U.S.-led invasion of Grenada and Cuba’s military support for African liberation movements in Angola, Namibia and South Africa during the fight against apartheid.

According to the organisation, thousands of Cuban youths lost their lives in Africa while contributing to the dismantling of apartheid systems backed by Western powers. The group noted that Cuba’s internationalism has not been limited to armed conflicts, citing the country’s long-standing medical outreach to developing nations, including Nigeria.

The statement also recalled Cuba’s response during the COVID-19 pandemic, when it dispatched medical teams to dozens of countries and received hundreds of stranded cruise ship passengers at a time many nations had closed their borders.

NMSC extended its sympathy to the families of those killed in Venezuela and called on the United States government to respect international law, halt what it described as foreign military interventions, and lift sanctions imposed on Cuba, Venezuela and other countries.

The group further aligned itself with repeated resolutions of the United Nations General Assembly calling for the end to the decades-long U.S. embargo against Cuba, insisting that global peace and development require cooperation rather than conflict.

The statement was signed by veteran labour activist and writer, Owei Lakemfa, on behalf of the Nigeria Movement of Solidarity with Cuba

Nigerian Solidarity Groups Mourn Cubans Killed in Venezuela, Condemn U.S. Actions

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NGX’s N100 trillion milestone, proof of growing sophistication of Nigeria’s capital market- Stockbrokers

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NGX’s N100 trillion milestone, proof of growing sophistication of Nigeria’s capital market- Stockbrokers

The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON) have congratulated the Board, Management, and staff of Nigerian Exchange Group Plc and Nigerian Exchange Limited on the historic achievement of the Nigerian capital market crossing the N100 trillion market capitalisation mark.

The commendation was issued via a press statement on Friday, jointly signed by Mr Samuel Sehinde Adenagbe, Chairman, Association of Securities Dealing Houses of Nigeria and Mr Oluropo Dada, the 13th President/Chairman of Council Chartered Institute of Stockbrokers.

They described the NGX’s achievement as a remarkable milestone and a major affirmation of the resilience, depth, and growing sophistication of Nigeria’s capital market, and a clear signal of renewed investor confidence in the Nigerian economy.

“Crossing the N100 trillion threshold is not only a symbolic landmark; it reflects the capacity of Nigeria’s capital market to mobilise long-term funds for infrastructure, enterprise development, and economic transformation.

“It underscores the vital role of the market in financing growth, creating wealth for investors, and supporting national development objectives,” the said.

According to them, the achievement will not have been possible without the visionary leadership and strategic direction of the NGX Board, as well as the professionalism and dedication of its Management and staff, led by versatile stockbrokers: Dr. Umaru Kwairanga; Mr. Temi Popoola; and Mr. Jude Chiemeka and Mr. Femi Sobanjo.

“We also commend the unwavering commitment and versatility of dealing member firms and stockbrokers who continue to serve as the backbone of the market, ensuring liquidity, transparency, and investor protection.

“Their collective efforts have strengthened market integrity, broadened participation, and improved the overall efficiency of the Exchange.”

The CIS and ASHON also commend the Federal Government of Nigeria for providing a supportive macroeconomic and regulatory environment that has encouraged domestic and foreign investment, promoted market reforms, and enhanced the attractiveness of Nigerian assets.

They stated that policy stability, ongoing reforms, and a clear commitment to private sector-led growth have played a crucial role in creating the conditions for this historic market expansion.

They further commended SEC for providing sound regulations and market development.
They stated that the CIS and ASHON would continue to advocate ethical governance in the capital market with all stakeholder playing by the rules of the game.

They further restated their commitment to sustaining the momentum through robust regulation provided by Securities and Exchange Commission, market innovation, and strong investor protection frameworks.

“We look forward to working closely with all stakeholders to further deepen the market, broaden product offerings, and ensure that the Nigerian capital market continues to serve as a strong engine for inclusive and sustainable economic growth.”

NGX’s N100 trillion milestone, proof of growing sophistication of Nigeria’s capital market- Stockbrokers

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Troops neutralise bandit, recover arms in Plateau raid

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Troops neutralise bandit, recover arms in Plateau raid

By: Zagazola Makama

Troops of 3 Division of the Nigerian Army, under the Joint Task Force Operation Enduring Peace (JTF OPEP), have neutralised a notorious bandit and recovered arms and ammunition during a raid on a hideout in Plateau State.

Sources told Zagazola Makama that the operation was conducted on Jan. 8 at Yolan Gboka–Yama Da Lahdi, following sustained efforts to track and arrest perpetrators of the Dec. 16, 2025 attack on illegal miners at Tosho community in Fann District, Barkin Ladi Local Government Area.

According to the sources, troops made contact with the bandits during the raid and engaged them in a firefight.

“One of the bandits was neutralised during the exchange of fire and was later identified as Sadiq Isah, while others fled the area,” the sources said.

The sources added that troops subsequently exploited the hideout and recovered two AK-47 rifles and 162 rounds of 7.62mm (special) ammunition.

The recovered arms and ammunition are currently in military custody, while troops have commenced follow-up operations to intercept the fleeing suspects and prevent further criminal activities in the area.

Zagazola reports that Operation Enduring Peace is a joint security initiative aimed at restoring peace and stability across Plateau and neighbouring states.

Troops neutralise bandit, recover arms in Plateau raid

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