Sanwo-Olu, Tambuwal, Daniels, Okiro, Utomi, Others Hail NiDCC as Strategic Bilateral Partner

Oluchi Chibuzor

Governor Babajide Sanwo-Olu of Lagos State, former Speaker of House of Representative, Aminu Tambuwal, former Governor of Ogun State, Gbenga Daniels and others have both stressed the need for the country to leverage the recently inaugurated Nigerians in Diaspora Chamber of Commerce, (NiDCC) as a strategic bilateral investment partner.

Speaking at the grand launch of NiDCC in Lagos, yesterday, Sanwo-Olu noted that for growth to occur there must be synergy between private and public sector.

The governor, represented by his Senior Special Assistant on Diaspora and Foreign Relations, Jermaine Sanwo-Olu, said they are looking forward to working with the chamber.

According to him, “Growth occurs when the private sector partners with the public sector to bring about national or subnational development, and now the diaspora, too, is contributing towards that. So, we’re looking forward to working with them.

“The diaspora are very important to us, most especially in the real estate sector.

“So, we as a government are creating the enabling environment, and the diaspora have seen that, they can trust us, they know that Lagos is very secure, so they bring their investments here, and we’re ready for them.”

Delivering her keynote address, the President of NiDCC Patience Ofure-Key said the chamber aims to bridge the gaps by creating a linkage between Nigerians living abroad and the institutions in the country.

At the event themed, ‘The People, The Business and the Future of Emerging Markets’, Ofure-Key said they are an organization looking to invest, looking to get involved in projects.

“The Nigerian diaspora sends $20-24 billion home annually, more than many years of FDI – yet less than a tenth of that typically reaches productive enterprise.

“The aim and purpose of this initiative is to bridge the gap between the emerging economies and the advanced economies. So, what we can do is to seek mutuality; mutual responsibility and benefit for our country.

“We are not only going to do that just by bringing people together in the chamber as members, but collaborations with other African countries and others,” she said.

On his side, Tambuwal praised the resilience of those behind the NiDCC, while stressing they remain critical to bridging financial gaps in the country.

Tambuwal emphasised the imperative to establish a handshake between the diasporan community and government, possibly through the local Chamber of Commerce.

He stressed the need for the government to provide an enabling environment for them to come and invest as they can serve as ambassadors to channel more funds into the country.

According to him, “In my brief remark, I drew attention to the fact that we passed the MTF last week, wherein Nigeria is going to source for a loan of about N17 trillion to fund the budget deficit.

“And here we have on record that diaspora remittances alone had contributed about $23 billion into the Nigerian economy. What does that show you? If there is proper linkage and synergy, much more of those resources will come to Nigeria.

“I think all of us need to do more to bridge the gap between them and the government. So, this Chamber of Commerce, for me, is a tool that can be used to bring in more investment in the country,” he said.

Also speaking, the former governor of Ogun State, Gbenga Daniel, commended NiDCC for promoting trade.

“The chamber will assist and guide foreign investors interested in Nigeria from falling into the wrong hands. The efforts of NiDCC will assist in unlocking opportunities in Nigeria,” he said.

Speaking also, Prof. Pat Utomi, said that the future belongs to bilateral strategic relationships, hence the need to support NiDCC to realise its potential.

“If we have a diaspora that has the most educated ethnic population or migrant population in the United States of America, that diaspora should not be taken for granted,” Utomi said.

While security is critical for investment, Mike Okiro noted that FDIs flow into a safe environment globally, however, called on the current security chiefs to draw from the experience of retired security officers across the country.

Former CEO of Neimeth, Mr. Samuel Ohuabunwa, noted he strongly believes that the nation should be looking for investment in its quest to grow the economy, hence the need to embrace the NiDCC.

According to him, “The point is that this country does not understand how to raise capital. I strongly believe that if we want to grow our economy, we should be looking for investment.

“Anything about the diaspora, we should jump at it and do the best to make sure that we harness it because NiDCC will align with our quest to attract DFIs.”

For former minister of health, Prof Adenike Greg, “lack of coordination is responsible for economic underdevelopment of our country and so we must support initiative like this”