FG to set to launch diaspora bond investment

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The Federal Government, FG, has hinted of plans to launch a Diaspora bond to tap into the resources of Nigerians living abroad.

The plan was unveiled by the Senior Special Assistant to the President on Diaspora and Foreign Affairs, Mrs. Abike Dabiri-Erewa.

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Dabiri-Erewa said Ireland sought remittances from its citizens abroad when it was hit by recession and that Nigeria can do the same.

Dabiri-Erewa also disclosed that Nigerians in the Diaspora remits an average of $21 billion dollars annually.

She said the amount can help pull the country out of recession if they were adequately informed and engaged by the government.

She said the plan to float a Diaspora bond would enable Nigerians citizens living abroad to invest in infrastructure development.

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Dabiri-Erewa said, “We are coming up with the Presidential Initiative for Diaspora Excellence, PRIDE.

“We will bring it down to various fields; we are working on medicine and agriculture.

“So, we are getting Nigerians in the Diaspora in those fields who are going to come together and make sure they contribute positively to the progress and development of Nigeria.”