$300m Diaspora Fund Out In March-Adeosun

Ola Adetunji

Minister of Finance, Mrs. Kemi Adeosun has disclosed that the  much-awaited $300 million Diaspora Bond will be rolled out in March, just has she announced the introduction of Family Home Fun for Nigerians in Diaspora.

Adeosun, broke news at a meeting with Hon. Abike Dabiri-Erewa, the Senior Special Assistant to the President on Foreign Affairs and Diaspora, in Abuja.

According to the minister the $300 million was approved by the National Assembly in 2016.

“The Diaspora bond, which the National Assembly has approved, where Nigerians in the Diaspora who want to invest can key into, we are hoping that by March, the diaspora bond will be rolled out.

“Beyond that of course, the investment opportunities in Nigeria are very huge. A lot of those in the Diaspora who are interested in investing at home are encouraged to do so.

“Government is putting in place a lot of incentives such as infrastructures and also creates conducive environment for them to thrive. We are encouraging them to come back home and join the trend.

“One of the initiatives of the Ministry of Finance is the Family Home Funds, which has two aspects that provide funds for development of housing. So we are funding mass housing development, such as 400, 1000 housing units at a time. We are also providing funding for our people where they can purchase houses.”

She however disclosed that the pilot schemes had started in five states, including Anambra, Nasarawa, Delta and Ogun, with private developers already on site.

The houses, when completed, will be affordable as a unit and will not be more than N15 million, while the lowest will be N7.5 million, with all the infrastructure and necessary government documents in place.

She  advised Nigerians in the Diaspora that investing in the housing scheme is better as it would make them landlords as well as support their families back home to own a home rather than remaining tenants.

“Government is putting in place a lot of incentives such as infrastructures and also creates conducive environment for them to thrive, we are encouraging them to come back home and join the trend,” she said.

Earlier in her speech, Hon. Abike Dabiri said there was the need to engage the Diaspora to contribute their quotas to the development of the country, adding that Nigerians in the Diaspora deserve to be engaged and be part of the government’s policies and programmes.

She noted with pleasure that the remittances from the Nigerians in the diaspora to the economy rose from $21 billion in 2015 to $35 billion in 2016, stressing that “We can do same here.

“For instance, with the passage of the Diaspora Bond by the National Assembly, the Nigerians in the Diaspora would like to know when it will be floated as they are excited about it.”