FG to roll out $300m Diaspora Bond in March

The much-awaited $300 million Diaspora Bond will be rolled out in March, the Minister of Finance, Mrs Kemi Adeosun has said.

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

Similarly, the Minister also announced the introduction of the Family home fund, an affordable housing program which Nigerians in Diaspora can benefit from.

On the Diaspora bond, the Minister said that the $300 million dollars 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.

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“Beyond that of course, the investment opportunities in Nigeria are very huge, a lot of 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,” she said.

“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 said.

The Minister said that the pilot schemes have started in five states of Anambra, Nasarawa, Delta and Ogun states with private developers already on site.

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

Adeosun 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.

Dabiri Erewa had earlier said that there was the need to engage the Diaspora to contribute their quota to the development of the country.

According to her, Nigerians in Diaspora deserve to be engaged and be part of the government policies and programmes.

She noted with pleasure that the remittances from the Nigerians in the diaspora to the economy rose from $21 billion dollars in 2015 to $35 billion in 2016.

Dabiri-Erewa said the Diaspora needed to be encouraged to invest more at home.

She stressed on the need to actively involve the Diaspora in the bond which she said they were eagerly waiting for its take-off.

The Presidential aide urged the minister to carry along the Nigerians in the Diaspora in the enlightenment campaign and other road shows on the Diaspora bond.

“Because the bond is an emotional thing on contributing to one’s country and investing in it, we will want to know when it will be a reality,” she said.

She expressed optimism that Nigerians in the Diaspora can serve as catalyst in solving the current economic recession in Nigeria if their potentials are well-tapped.

Dabiri-Erewa said Nigerians in the Diaspora, estimated over 15 million all over the world, are performing wonders in helping other country’s economy.

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