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-HBvwAZZOBM.png "The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite")
The federal government has unveiled plans to float a $10 billion Nigeria Diaspora Fund.
According to the government, it would attract and accelerate inflow of foreign currency into the economy and improve forex liquidity and strengthen the naira.
The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, in a notice shared on her X handle (formerly Twitter), on Saturday, revealed that the Nigeria Diaspora Fund Multi-sectoral Investment Initiative would be designed and managed by fund managers selected through an Expression of Interest (EOI) exercise where winners are expected to emerge.
The ministry has issued an EOI Expression to fund managers for the development and establishment of a multisectoral, multilateral private sector-led investment fund to form the $10 billion Nigeria Diaspora Fund.
Uzoka-Anite further clarified that the fund was intended to encourage remittances, attract investments and facilitate philanthropic endeavours aimed at supporting various sectors including infrastructure, healthcare, education and entrepreneurship in the country.
However, interested foreign firms must be able to demonstrate ability for frontier and emerging market investment experience.
