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NiDCOM, NiDOE Partner To Boost FDI

by Newscoven
February 2, 2023
in Business, News
Reading Time: 2 mins read
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NiDCOM, NiDOE Partner To Boost FDI

PHOTO CAPTION: Continental Chairman, NIDO Europe, Dr Bashir Obasekola (third from left); Chairman/CEO NIDCOM, Hon (Dr) Abike Dabiri-Erewa (middle) and Chairman, NIDO, Russia, Mr Uwem-Edimo (second from right) and others during a Diaspora engagement in Abuja.

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The Nigerians in Diaspora Commission, (NiDCOM) has pledged to partner more strategically with the Nigerians in Diaspora Organisation, Europe (NiDOE) to upscale Foreign Direct Investment (FDI).

Chairman/CEO of the Commission, Hon Abike Dabiri-Erewa, stated this when she received the Continental Chairman of NiDO, Europe, Dr Bashir Obasekola, and the Chairman NiDO, Russia Chapter, Mr Uwem-Edimo Sampson, in her office in Abuja.

Dabiri-Erewa, in a press release by Media, Public Relations and Protocols, NiDCOM,
Gabriel Odu, said the Commission will partner NIDOE on FDI, particularly with the Russian Federation.

The NiDCOM Boss was impressed with the steps taken by the NiDOE, Russia so far to drive investment back home and propel the growth of the economy.

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She stated that her office is ready to engage Nigerians in the Diaspora for human capital development.

Speaking on the issue of Diaspora Voting, she expressed optimism that “I know Diaspora Voting will happen in the nearest future.”

Responding, Chairman NiDOE, Russia, Mr Uwem-Edimo Sampson, expressed the need to create an inter-banking system between Nigeria and Russia to improve trade exchanges between the two countries.

He said, going by the 2021 statistics, Russia imported Cocoa worth $1.4 billion dollars and the major supplier was Germany.

He insisted that Russia can trade directly with Nigeria, and not through third party, given the fact that Nigeria ranks fourth of cocoa-producing countries globally.

He said NiDOE, Russia chapter, is encouraging Russia business owners to trade directly with Nigeria and not through other countries, so as to galvanise the economy.

Also speaking, NiDOE Continental Chairman, Dr Bashir Obasekola, said NiDOE is delighted to work with NiDCOM to facilitate homeland development and promote the good image of the country.

He said it is time for Nigerians in the Diaspora to think of home and invest positively in Nigeria.

Obasekola said NiDCOM has provided the link and platform for a robust Diaspora engagement for various missions back home.

The links and platforms, he said, included medical, charity and investment.

The meeting also talked about the new currency swap issue, as the Central Bank of Nigeria (CBN) was urged to put necessary mechanisms in place to ensure that Nigerians in Diaspora are considered in the currency swap.

This, it was said can be done by extending the deadline and making the new notes available to Nigerians in the Diaspora who also have old naira notes to swap.

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