Bago, Mutfwang seek diaspora investments in agriculture, health

State governors have urged Nigerians in the diaspora to make investments that would contribute to Nigeria’s economic expansion and sustainable development.

The governors spoke on Tuesday the sidelines of the 79th United Nations General Assembly (UNGA) in New York.

The event was organised by the UN Staff Recognition Council (UNSRC) and the Nigeria Association and Nigerian Professionals Network (NPN) and had “Empowering Nigeria’s future: The role of Nigerian professionals in diaspora” as its theme.

Mohammed Bago, governor of Niger, said the state has signed a memorandum of understanding (MoU) worth about $1 billion under foreign direct investments (FDI),

Bago said his administration would channel the funds into transportation, health, and education projects, among others.

The governor also touted agriculture as a viable investment.

“This conversation must be around agriculture and production. Not this one that you send money to your uncles or aunties and they will build a house for themselves and add additional wives,” he said.

“So, I’m basically agrarian. In my local market, I sell weekly, an average of 1 million cattle. So, if I sell cattle and I charge N10,000 per cattle, I’ll be making N20 billion from that market.

“So, for those of you who are in diaspora, you want to invest in livestock or in slaughterhouses or in the meat business, look at the numbers. They are very clear. So you know exactly where you want to invest in.”

Caleb Mutfwang, governor of Plateau, said though many Nigerians abroad want to invest in their home country, the issue of adequate remuneration has been an obstacle.

Mutfwang suggested the creation of a structure that can overcome the snag and enable interested Nigerian investors abroad to confidently turn to local developmental initiatives.

“Can we have a buffer that allows people of intellectual capacity, economic network, social capital, to come back home and add value to what we are doing? But if they are coming back home, they are returning as your ambassadors, and therefore they ought to be supported. We can put a structure to this,” he said.

“I’m excited about the figures that we are talking about — the diaspora remittances. But like Governor Bago mentioned, we need to put a structure to it.

“What is coming so far is just social largess. We are not feeling the impact. We don’t understand where those monies are going into.”