Tuggar: Nigeria can be Propelled to Economic Growth with Effective Harnessing of Strengths of Her Diaspora

By: Michael Mike

Minister of Foreign Affairs, Ambassador Yusuf Tuggar has said that with the effective harnessing of the strengths of Nigerians in Diaspora, the country can be propelled to economic growth, social development, and international standing.

Speaking on Thursday at the Diaspora Study Stakeholders Engagement Workshop organised by the Nigerian Institute of Social and Economic Research (NISER) in collaboration with Nigerians in Diaspora Commission (NISER), the Minister who was represented by the Director Economic, Trade and Investment in the Ministry of Foreign Affairs, Ambassador Bolaji Akinremi said: “Nigeria boasts one of the most dynamic and influential diaspora populations in the world.

“Across continents, Nigerians in the diaspora have made remarkable contributions to various sectors, including academia, medicine, technology, entrepreneurship, and diplomacy. Their remittances, expertise, and global networks serve as strategic assets that, when effectively harnessed, can propel Nigeria’s economic growth, social development, and international standing.”

He added that: “This workshop provides a platform to engage relevant stakeholders in the proposed diaspora study, ensuring its design and implementation align with national objectives and global best practices. It is imperative that we leverage the insights and inputs of key players, including government agencies, businesses, and scholars, to develop a study that informs policies aimed at maximizing diaspora contributions.”

The Minister to fully take serious the sessions, noting “that the success of this study will not only enhance diaspora engagement but also reinforce Nigeria’s position as a nation that values and integrates its global citizens in national development.”

On her part, the Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), Hon. Abike Dabiri-Erewa, said: “Nigeria is blessed to have one of the world’s most resourceful and active diaspora groups, with professionals flourishing in a variety of fields across continents. One untapped resource that could greatly aid Nigeria’s economic and social change is the abundance of networks, expertise, and knowledge they hold.”

She added that: “In order to effectively engage and utilise the enormous potential of our diaspora population, this study aims to give us a thorough grasp of how to do so. It is about developing evidence-based policies and initiatives that will lead to significant contributions to the development of the country, not just gathering data.”

She noted that: “Some of the policy measures to harness Diaspora contribution for national development include creating investment opportunities, establishing diaspora-specific investment funds, facilitating knowledge transfer through mentorship and training programs, enabling easier access to markets and networks in their home country and many more. By implementing these measures effectively, we can leverage the skills, resources, and networks of our diaspora communities for sustainable national development.”

Dabiri-Erewa while stating that: “This workshop is a platform to exchange ideas, dig into think-tanks of knowledge, refine strategies, and ensure that the study’s design and implementation are robust and inclusive,” told the participants that: “Your insights, experiences, and recommendations will be invaluable in ensuring that this research leads to actionable policies that truly make an impact.”

The Director General of Nigerian Institute of Social and Economic Research (NISER), Prof. Antonia Simbine said Nigeria’s diaspora community is one of the largest and most influential in the world, with over 17 million Nigerians residing abroad, noting that: “Our diaspora population is distinguished by its high level of professional expertise, spanning fields such as medicine, information technology, engineering, education, finance, and entrepreneurship.

“Beyond remittances—which amounted to $23.8 billion in 2019 before declining to $19.5 billion in 2023—the Nigerian diaspora contributes to national development in non-financial ways, including technology transfer, knowledge exchange, investment, and policy advocacy.

She said: “However, despite these contributions, a significant portion of diaspora remittances (about 70%) is directed towards consumption, rather than productive investments that could drive large-scale industrial growth and innovation in Nigeria. This reality underscores the need for this study, which aims to identify policy measures that will enhance the efficiency and impact of diaspora contributions to Nigeria’s socio-economic development.”

She revealed that: “This workshop provides a platform for engagement with key stakeholders—including government ministries, professional bodies, Nigerian diaspora organizations, embassies of our study countries, and the academia—to ensure that the study design, implementation, and outcomes align with national development goals.”

Tuggar: Nigeria can be Propelled to Economic Growth with Effective Harnessing of Strengths of Her Diaspora

South Africa’s Tshabalala Announces Candidacy For African Development Bank Presidency

By: Michael Mike

Former senior vice president of the African Development Bank (AfDB), Bajabulile Swazi Tshabalala, has officially announced her candidacy for the presidency of the institution.

Tshabalala’s bid comes with the full support of the South African government, signalling confidence in her leadership potential and vision for the future of the continent.

Finance minister Enoch Godongwana said Tshabalala was an exceptional leader with a proven track record in finance, infrastructure, and economic development.

“Her extensive experience at the African Development Bank and beyond makes her the ideal candidate to lead the institution into a new era of financial resilience and impact-driven growth,” Godongwana said.

“South Africa fully supports her candidacy and believes that under her leadership, the AfDB will play an even greater role in accelerating Africa’s economic transformation and unlocking opportunities for all its people.”

Tshabalala will be bringing over three decades of experience in infrastructure finance, hybrid capital solutions, and economic development to the table. She has played a pivotal role in mobilising capital for Africa’s pressing development needs, leading the AfDB’s financial response during the COVID-19 pandemic and innovating funding mechanisms now adopted globally.

Her candidacy symbolises a commitment to a robust and agile AfDB that prioritises infrastructure development and economic opportunity for the continent.

Tshabalala, in a statement, said she had a bold vision to build a strong AfDB with “innovative financing” to infrastructure challenges in the continent.

She noted that: “Africa stands at a pivotal moment, and the African Development Bank must rise to meet the continent’s ambitions with bold, strategic action.”

She revealed that: “My vision is to build a financially strong, results-driven AfDB that prioritises infrastructure, expands innovative financing solutions, and strengthens partnerships to unlock Africa’s full economic potential. This is not just about investment—it’s about delivering real, lasting impact for African nations and their people.”

Tshabalala first joined the AfDB in 2018, rapidly ascending to the role of senior vice president in 2021, which she held until her resignation in January 2024. Before this, she held significant leadership roles at Old Mutual Employee Benefits, Standard Bank Group, and Transnet, gaining invaluable experience in managing large-scale infrastructure projects.

Her tenure as CEO of the Industrial Development Group from 2006 to 2014 demonstrated her ability to drive investment across key sectors in Africa.

According to her, this candidacy transcends the quest for leadership; it embodies a promise to realise the AfDB’s mission of transforming lives across the continent.
Infrastructure development is set to be a cornerstone of her presidency.

Tshabalala emphasised that reliable infrastructure—roads, ports, railways, energy systems, and digital networks—is fundamental for sustainable economic growth. Drawing from her experience at Transnet, where she facilitated the expansion of critical logistics hubs, she understands that well-executed infrastructure initiatives can significantly boost long-term economic activity.

Her introduction of hybrid capital financing at the AfDB stands as a testament to her innovative approach. This financing mechanism enables multilateral development banks to attract private sector investments while maintaining financial stability, a method that has now found resonance with other global financial institutions. Her strategic vision includes expanding the use of such hybrid instruments to deepen the AfDB’s funding base, positioning it as a robust financier for transformative projects.

Beyond her core focus on infrastructure, Tshabalala advocates for gender equality and youth empowerment within the AfDB’s operational strategy. As a leading African woman, she is determined to ensure that policies and funding support opportunities for women entrepreneurs, young professionals, and small businesses, ensuring inclusive and sustainable growth across the continent.

The election for the next President of the African Development Bank is scheduled for 29 May 2025 during the Annual Meeting of the Board of Governors in Abidjan, and Tshabalala is expected to active engage with stakeholders throughout Africa and beyond, sharing her vision for a financially resilient and impact-driven AfDB—a critical engine for sustainable growth.

South Africa’s Tshabalala Announces Candidacy For African Development Bank Presidency

Zulum approves sponsorship for 60 Borno indigenes to study leather technology at NILEST

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has approved the sponsorship of 60 indigenes of the state to pursue Diploma courses in leather-related fields at the National Institute of Leather Science and Technology (NILEST) in Zaria, Kaduna State.

The Governor’s decision follows a recent courtesy visit by the Director General of NILEST, Dr. Auwal Mustapha at the GovernmentHouse. During the visit, Governor Zulum directed the immediate dispatch of 60 students to the Institute to study leather technology, footwear design, and innovation.

Speaking shortly before the students’ departure, Executive Secretary of the Borno State Scholarship Board, Dr. Bala Isa announced that the students were selected from all 27 local government areas of the state. Dr. Isa also highlighted the scholarship package, which includes the payment of school fees for two years, as well as a monthly stipend of N30,000 to support the students during their studies.

“Governor Babagana Zulum has graciously approved that, throughout the duration of your studies, you will receive a monthly stipend of N30,000 for the next two years to assist you in your academic pursuits,” Dr. Isa said.

The Executive Secretary emphasised that the sponsorship is part of Governor Zulum’s broader commitment to empowering the youth of the state, ensuring they become self-reliant through vocational and technical education. He urged the students to make the most of this rare opportunity, remain focused on their studies, and serve as excellent ambassadors for the state.

Dr. Isa also commended the North East Regional Manager of NILEST for his relentless efforts in facilitating the participation of Borno indigenes in the programme.

In his remarks, the Regional Manager of NILEST, Dr. Busuguma expressed appreciation to Governor Zulum for his bold step in sponsoring the 60 students to study leather technology. He acknowledged the Governor’s continued dedication to the development of various sectors in the state.

“I would like to take this opportunity to thank Governor Babagana Umara Zulum for his unwavering commitment to the advancement of education in Borno State,” Dr. Busuguma said. “This initiative is part of his ongoing efforts to invest in the future of our youth across various fields of study.”

He emphasized that due to the strong relationship between Governor Zulum and NILEST, students’ admission letters had been immediately dispatched, enabling them to commence their studies while the formal registration process is completed

The regional manager also extended his gratitude to Dr. Bala Isa for his support and tireless work in ensuring that the students embark on this educational pursuit.

Responding on behalf of the students, Mohammed Yahaya, from Bama Local Government, promised to put in their best to make the state proud.

Zulum approves sponsorship for 60 Borno indigenes to study leather technology at NILEST