To entice citizens residing overseas to invest, the federal government (FG) has declared its intention to establish a $10 billion diaspora investment fund.
In a statement posted on X (formerly Twitter), Minister of Industry, Trade, and Investment Doris Uzoka-Anite stated that the federal government is soliciting bids from asset managers to establish the fund.
According to her, the programme is anticipated to help vital industries like infrastructure, healthcare, and education in order to boost the economy (FG).
She said that an advisory board made up of limited partners will oversee the fund and that qualified companies are invited to indicate their interest in managing it.
The fund is a component of larger initiatives to advance national development and fortify relationships between Nigeria and its diaspora.
Fund managers who meet the requirements outlined in the Expression of Interest (EOI) will oversee the fund. The fund manager will suggest fund structures with a focus on different investing stages and sectors.
The fund will include a number of investment platforms that give investors several ways to get involved in Nigeria’s economic change, subject to the preferences stated by the fund administrators.
FG
With the help of this fund, charitable initiatives in Nigeria’s infrastructure, healthcare, education, and entrepreneurship can be supported, as well as investments and remittances are encouraged.
Source: vanguardngr.com
