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FG announces $10bn diaspora fund to attract investment

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The federal government says it is planning to set up a $10 billion diaspora fund to attract investment from its citizens living abroad.

The federal government has announced plans to set up a $10 billion diaspora fund to attract investment from citizens living abroad.on X on Thursday, Doris Uzoka-Anite, minister of industry, trade and investment, said the federal government is seeking bids from asset managers to set up the fund.

“Objective of the Nigeria diaspora fund; The fund will be managed by Fund Managers that satisfy the criteria set out in the Expression Of Interest . The Fund manager will propose Fund structures that will focus on various sectors and stages of investments. “The fund presents an opportunity for diaspora investors to contribute meaningfully to Nigeria’s socio-economic advancement,” Uzoka-Anite said.

 

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