The Federal Ministry of Industry, Trade and Investment has launched a $10 billion Nigerian Diaspora Fund for eligible entrepreneurs to encourage investment in the private sector and inject foreign direct investment into the Nigerian economy.
The policy was launched by Doris Nkiruka Uzoka-Anite, minister of Industry, Trade and Investment on Thursday.
“The federal government established a committee to design and develop the framework for a Diaspora Fund and various stakeholders in the capital markets, investment community and diaspora investors were actively involved and consulted on the establishment of the $10 billion Nigerian Diaspora Fund,” he said.
He added that the Fund would be designed and managed by the Fund Managers chosen during the Expression of Interest (EOI) process.
“The issuance of the EOI marks a crucial milestone in recruiting capable fund managers to drive the creation and operation of the private sector-led multi-sector investment fund,” he said.
