FG to Roll out Diaspora Bond in March

Alex Enumah

Following the successful passage of the Diaspora Bond Bill into law by the National Assembly, the federal government has hinted of plans to roll out the bonds in March this year.

The move is part of efforts to fully engage the Diaspora in the economic and social development of Nigeria as well as recognition of the immense contribution of Diaspora particularly in the last year.

Minister of Finance, KemiAdeosun, disclosed this yesterday inAbuja during a courtesy visit by the Senior Special Assistant to the President on Foreign Affairs and Diaspora, Hon. Abike Dabiri-Erewa.

Adeosun disclosed that Nigerians abroad are keen to support the development in the country hence government has also designed ways that would accommodate them by creating a conducive environment for doing business.

She said with the rolling out of the Eurobond in January and the passage of the Diaspora Bond law plans are under way to ensure that the Diaspora Bond is rolled out by March this year.

Adeosun noted that apart from the Diaspora Bond, other measures put in place by the President Muhammadu Buhari administration to lure back some Nigerians doing well abroad is the recently launched Family Home Fund that provides housing loans both to Nigerians abroad as well as their relatives in Nigeria.

She advised Nigerians abroad to catchin on the gesture by supporting their people to own a home through the scheme instead of sending monies for food or other emergencies, adding that owning a home would greatly reduce the burdens of most families in the country. Earlier, Abike Dabiri-Erewa had urged the ministry to come up with various incentive for Nigerians abroad who want to invest in Nigeria.

Dabiri-Erewa, while disclosing that Nigerian diaspora remitted the sum of $35 billion last year which is the highest in Africa and the third in the world, stressed that with a conducive business environment, they can help Nigerian come out of recession.

She also advised that Nigerian Diaspoara should always be considered in the nation’s quest at seeking foreign investors.