Tinubu administration committed to building strong diaspora ties for national development, says Shettima
Vice-President Kashim Shettima says President Bola Tinubu administration is committed to creating an enabling environment for collaboration between Nigeria and its diaspora.
Shettima spoke on Wednesday at the ongoing 8th edition of the Nigeria diaspora investment summit (NDIS) 2025, held at the State House conference Centre, Abuja.
The summit, themed “Fast-tracking regional and national development by mobilising diaspora investment,” runs from November 11 to 13.
Represented by Dunoma Ahmed, permanent secretary in the ministry of foreign affairs, Shettima said the summit’s theme reflects the administration’s ambition to harness the combined strength of Nigerians at home and abroad for national development.
He added that prosperity would come faster when the public sector, private sector, and diaspora work in unity of purpose.
“The renewed hope agenda identifies the diaspora as a central pillar of Nigeria’s foreign policy, alongside democracy, development, and demography,” he said.
Shettima highlighted several initiatives aimed at encouraging diaspora investment, including the home and abroad housing platform by the Nigerian Diaspora Commission (NiDCOM), which provides a secure gateway for Nigerians abroad to invest in real estate.
He also pointed to partnerships connecting diaspora scientists, engineers, and innovators with opportunities in Nigeria through NiDCOM and the National Agency for Science and Engineering Infrastructure (NASENI).
Shettima further outlined financial measures, such as the proposed Diaspora bond, which would allow Nigerians abroad to invest directly in national infrastructure projects.
Other reforms, including the Non-Resident BVN and a competitive exchange rate, have already encouraged formal remittances, which he said amounted to about $21 billion in 2024, sustaining millions of households and businesses.
The vice-president acknowledged the critical role of micro, small, and medium enterprises (MSMEs) in Nigeria’s economy, noting that while over 39 million MSMEs contribute more than 50 percent of the gross domestic product (GDP) and employ 86 percent of the workforce, they face challenges, especially in access to finance.
To address this, the administration has launched the N75 billion MSME Intervention Fund, the FGN–ALAT Digital Skillnovation programme, and the national MSME clinics, while also awarding non-repayable grants to outstanding businesses.
Shettima emphasised the administration’s commitment to infrastructure as central to national development. Key initiatives include approval of N4.2 trillion for roads and bridges, including transformative corridors like the Lagos–Calabar Coastal Highway and Lagos–Ibadan expressway and N1.3 trillion to settle legacy debts in the power sector and expand solar mini-grids to rural areas.
He also listed the deployment of over 90,000 kilometres of fibre optic cable to boost the digital economy.
“These projects are not mere promises but tangible evidence of progress,” Shettima said.
Speaking at the summit, Mohammed Idris, minister of information and national orientation, urged Nigerians to avoid portraying the country negatively abroad and to remain patriotic.
He noted that Nigeria’s recent removal from the Financial Action Task Force (FATF) grey list had boosted investor confidence and underscored the country’s improving financial governance.
“All those claiming Nigeria is not performing should see the reforms, which now allow businesses to invest and repatriate funds without restriction,” the minister said.
