NDVC commends $10bn Nigeria Diaspora Fund initiative

The Nigeria Diaspora Voting Council (NDVC) has applauded President Bola Ahmed Tinubu and the Federal Government of Nigeria for the launch of the $10 billion Nigeria Diaspora Fund, a significant multi-sectoral investment initiative managed by the Federal Ministry of Industry, Trade, and Investment.

In a statement released on Tuesday and signed by its Secretary, Tolu Oluwatuyi, the NDVC described the initiative as a groundbreaking opportunity for Nigerians living abroad to contribute to the economic development of their home country. The fund aims to enhance private sector investments and attract foreign direct investments to Nigeria.

The Nigeria Diaspora Fund, which was launched earlier this year, advertised for fund managers in April 2024 and is expected to enter the market soon through authorized agents. This initiative is in line with President Tinubu’s manifesto and action plan, which encourage Nigerians in the Diaspora to play an active role in shaping Nigeria’s future.

The NDVC highlighted that the fund reflects the government’s commitment to providing avenues for Nigerians abroad to invest directly in the country’s growth and development.

The Council noted that this initiative marks a crucial step in leveraging the financial power of the Nigerian Diaspora community. It also lays the groundwork for future collaborative projects between the government and the Diaspora, including the potential for Diaspora voting.

The NDVC has long advocated for Diaspora voting, believing that all Nigerians, regardless of their location, should have the right to participate in the democratic process.

Prince Ade Omole, Chairman of the NDVC, expressed his optimism about the initiative’s impact. “The launch of the $10 billion Nigeria Diaspora Fund is a landmark achievement for Nigerians living abroad. It is not merely an investment opportunity; it reflects the administration’s genuine commitment to the Diaspora community. This fund is a significant step towards realizing our ultimate goal of Diaspora voting, and we are proud to collaborate with the Federal Government on this journey,” he stated.

Omole emphasized that the Diaspora Bond offers a unique investment opportunity for Nigerians abroad, both collectively and individually. “With each step we take, we move closer to achieving Diaspora voting—a future where every Nigerian, no matter where they reside, can have a voice and a vote. This fund serves as a bridge, connecting us to our roots, our identity, and our shared future. It proves that the government is not only making promises but is actively working alongside us. We encourage our Diaspora community to seize this opportunity to help shape Nigeria’s destiny,” he added.

In concluding, the NDVC reiterated its commitment to advocating for measures that integrate the Nigerian Diaspora into all aspects of national life. The Council expressed gratitude to the Federal Government for this bold initiative and looks forward to continued collaboration and understanding in future efforts to strengthen the relationship between Nigeria and its Diaspora community.