Home October 2020 Nigeria to set up Diaspora Mortgage Housing Fund.

October 2020 Nigeria to set up Diaspora Mortgage Housing Fund.

The Federal Government says it is working at inaugurating in October 2020 the Nigeria Diaspora investment fund and mortgage housing project for Nigerians living abroad.  The Chairperson of the Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa said this at a webinar to mark this year’s National Diaspora Day event in Abuja.  She said the theme of the event "Leveraging Diaspora Resources for National Development in a COVID-19 Era” is a summary of the entire mandate of NIDCOM. "The activities we have executed, those ongoing, and the ones that are yet to take-off are all definitive, of the theme. Our interactions today is expected to mobilise you to key into some of the programmes and chart improved or better ways on how to achieve them,” she said. 

According to Dabiri-Erewa, the programmes the commission is currently working on includes working with the National Assembly to make Diaspora voting a reality, the Diaspora Merit Award, and collating Data of Nigerians in the Diaspora. She added that they are also working on the Diaspora Mortgage Housing project in collaboration with the Federal Mortgage Bank of Nigeria and Diaspora Investment Trust Fund.  She observed that many countries cutting across all the Continents have evidence or testimonial to the direct and indirect linkage between their Diaspora and National Development. "Countries like India, Israel, Germany, China, Italy, and Ghana harnessed their Diaspora resources meticulously and judiciously, towards socio – economic growth. Such made immeasurable impact on capacity building and infrastructural development. When properly deployed, these resources often create positive measurable ripple effects that could mitigate unemployment, leading to the improvement in the quality of life and reduction in poverty,” she said. 

She said efforts by groups and government led to the enactment of the Act establishing the Nigerians in Diaspora Commission, which "provides for the engagement of Nigerians in Diaspora in the policies, projects and participation in the development of Nigeria and for the purpose of utilising the human capital and material resources of Nigerians in Diaspora towards the overall socio-economic, cultural and political development of Nigeria; and for related matters. Since its establishment a year ago, the Nigerians in Diaspora Commission has a lot to celebrate. This is because the passion and consistency that saw to the establishment of the commission, has been maintained and sustained,” she said.