Connect with us

News

Peter Obi, Ben Murray-Bruce, Fela Durotoye charge Nigerians in Diaspora to Invest in the Country

NAN

Published

 on

Nigerians in diaspora have been tasked on the need to change their negative mindset about their country and join hands and resources to help build the Nigeria of everyone’s dream.

Former Governor of Anambra Peter Obi, Senators Ben Murray-Bruce and Shaaba Lafiaji, and motivational speaker Fela Durotoye, made the call at the Nigerian-American Business Forum in Florida.

Others who spoke on: ‘Investing in Nigeria from the Diaspora: Challenges and Opportunities’, were the Nigerian Stock Exchange Council President Abimbola Ogunbanjo and Nigerian-American entrepreneur Biodun Shobanjo.

They all challenged those in the diaspora to invest at home and help to build a better Nigeria.

Obi said: “You must invest in Nigeria; we must change the mindset about Nigeria. You must bring your investment home because we need to take back Nigeria.

“There is an opportunity in Nigeria when it comes to investment that is not anywhere in the world. Channel your investment back into the country; be part of the change at home. We have no other country to call ours except Nigeria.”

Murray-Bruce, in his speech, said those in diaspora could not sit idly by and watch the country run aground, adding “you must be willing to come home, invest and fight for Nigeria to be better.

“In the coming election, Nigeria must be better – no more business as usual. Nigerians in Diaspora constitute the largest foreign direct investment to Nigeria – 22 billion dollars – while NNPC contribute 30 billion dollars.

“So I am sponsoring a bill that you must be given the right to vote. Call your senators to support my bill. If Nigeria must be successful, you must be successful”.

Durotoye, on his part, said it was not too late for Nigeria to get it right, saying Nigeria could still be the most desirable country to live in the next seven years – 2025.

He challenged those in diaspora to be like the Diaspora Jews and Indians who succeeded together and were able to go back to impact same on their respective countries.

“No nation in the world has been able to realise its potential without the involvement of its diasporas; Awolowo, Nkrumah, Kenyatta – were all diasporas. Don’t be escapist. As long as you want to escape, Nigeria is a ‘hole’ to you.

“Be an expertise, think of what to bring back home. Invest in each other, start investing in Nigerians who are here.

“So invest in young Nigerians at home; they are moving forward in spite of government. Search them out and mentor them.

“Nigeria was born with a wing but just put in a cage in the past 57 years but the cage is about to be broken,” Durotoye said.

Also speaking, Ogunbanjo said the Nigerian Stock Exchange was the best-ranked stock globally in 2017 according to Bloomberg adding, Nigerian economy is on the verge of outperforming the 2017.

Lafiaji, in his speech, highlighted the investment opportunities in Kwara and Nigeria and challenged those in diaspora to stop lamenting over the country but proffer workable solutions to its challenges.

Speaking in a similar vein, Shobanjo said there was absolutely no reason why those in diaspora should not come and invest at home, saying the opportunities in Nigeria are vast.

“I’m imploring you, please come home and invest. The more people like you come and invest, the GDP – Gross Domestic Product – will grow and we will make Nigeria a better place,” Shobanjo said.

See photos from the event below:

Photo Credit: NAN

The News Agency of Nigeria (NAN) was established by the Federal Government of Nigeria in May 1976 to gather and distribute news on Nigeria and cover events of interest to Nigeria at the international level for the benefit of the Nigerian Media and the Public.

11 Comments

  1. SoniaPaloma

    February 5, 2018 at 10:35 am

    Hey all, on the line of investment, does anyone know how the mortgage system work in (Lagos) Nigeria for a house around places like Lekki?

  2. GYOnlineNG.COM

    February 5, 2018 at 10:36 am

    Together will can build Nigeria of our own dream. God bless Nigeria.

  3. Anon

    February 5, 2018 at 11:40 am

    @sonia
    I bought properties in naija but it was land n not a house . I was able to pay monthly and already picked up paper work for them .
    1. Find a reputable company
    2. The land / property may be more expensive than what everyone is advertising but I loved my peace of mind better
    3. Much better in an estate. Makes life a lot easier
    4. Make sure it’s an actual company , research Is very very important
    5. I’ve used property mart and adron homes
    6. Those I can speak of highly , got my documents on time after making all required payments
    7. Ummmmmm, i had to find a trusted friend to exchange dollar to naira n paid into their account then asked the company for receipt of payments
    8. Think that’s all I got
    9.

  4. @womiv

    February 5, 2018 at 11:45 am

    They couldn’t be father from the truth, but i reckon the diaspora will want to see and hear of success stories though, and know investing is worth it apart from sentimental attachments.

    E.g
    The 1st Can production facility in Nigeria was engineered by diasporans. i.e GZ Industries.
    Helios investments too has surpassed expectations. (Google em if you ain’t know)

    Not just calls to invest, there must be a succint NEEDS assessment of different tiers of the economy, data must be gathered, and execution must be data driven, this data is there but just needs to be compiled & organised.
    You think KPMG, PWC, E & Y, Deloitte, Mckinsey and the others don’t know what they are doing here? Think again, this dudes are sitting on troves of valuable data!!

    Our 1st point of call should be infrastructure, we need to open up the remaining ports and aggressively upgrade them and postion them better for Exports!!!
    The world needs a lot of what we have….
    DHL complains about cargo planes leaving Nigeria virtually empty….
    Same for railways, roads, Airports, & electricity. This will just be the starting point, hell there’s an oversupply of steel in China, we could buy up factories there for priority shipping to Nigeria to aid in our need for infrastructure investment inputs.

    The Nigerian diaspora has the financial muscle but most importantly the Human capital/experience to cause an effect, Singapore leveraged on this key metric.

    The diaspora needs to know that their efforts will beat the system in such a way thay the FG will have no option but to adjust & bend, economic power will always inadvertently upsurp political power.
    Focus shouldn’t be on voting for now, they ain’t got the numbers to ginger, instead they can rally behind an Ideas man, contributions up to < $500mn can definitely swing an election.
    $22bn is remmited each year, soo…

    Diaspora $£€ should be our FDI..
    And He who has the money makes the rules.

    I'm gonna publish an article soon on how diaspora investment can prevail in spite of political risk, and navigate their way accordingly, lastly if international development finance institutions believe in this frontier market, who shouldn't,
    Ask Strive Masiyawa, you can't afford to overlook the Nigerian Market,
    Econet was his painful lesson, but he bounced back stronger, with investements in Kwese plus others you and i may not be privy to know about.

    Let's make Nigeria great again.
    Lets take our place as an economic & geopolitical power in the world & lurch forward towards the Trillion$ GDP status.

    • ij

      February 6, 2018 at 11:11 am

      my head almost fell off my neck from nodding in agreement with this statement.

      “data must be gathered, and execution must be data driven, this data is there but just needs to be compiled & organised”

  5. Anon

    February 5, 2018 at 11:46 am

    So while I invested in our country
    I don’t have plans to move back , there isn’t just enough I can see to make me go back .
    No job in naija will pay me what I make
    Basic amenities ( think Nigerians can’t understand how important it is to have simple things)
    I’ll even take constant electricity n deal with badd road n government
    Just electricity will solve the no water , it’ll help many businesses save cost…. but I heard somewhere till 2040 or something like that
    While we have the best cars and houses
    Neighboring countries , Ghana , Togo , they’ve got constant electricity .
    But On a serious note
    Outside of property what are the other options for investing without really being there ?
    Heard our stock market is white good but my head is built for engineering not business stock market life
    If someone can point me in the right direction , you’d be loved by me

  6. Fleur

    February 5, 2018 at 12:48 pm

    And lose blood money to ethnic marauders, thieves, desperately poor and hungry business partners and employees etc?

    • Fleur

      February 5, 2018 at 12:49 pm

      Oh, I forgot land grabbers.

  7. Skelewu Dancer

    February 5, 2018 at 2:24 pm

    In the words of Hausa people. sam sam!
    The only investment i have in that nyama nyama place is where my mother lives.
    Me? put my money in thief thief land?
    i would rather go to Rwanda, Uganda, Namibia, Botswana & others than to put my money there.
    All your rich inhabitants should put their money there.
    Long hiss…

    • Physio Tinu

      February 7, 2018 at 2:48 am

      Gerrahia. Who wants your nyanma money anyway?! Leave us! Like your roots aren’t here. Fog off. Ptsheeew

  8. Tatafo!

    February 8, 2018 at 2:51 am

    US based diasporans, If you’re into ETFs look into NGE it’s an index fund for primarily Nigerian companies.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get The Pan-Atlantic Advantage

Star Features

Advertisement
css.php