Why we must tap our diaspora potential for national development by vp osinbajo

Here is the text of the speech by Vice President Yemi Osinbajo on "Why We Must Tap Our Diaspora Potential for National Development":

Ladies and gentlemen, esteemed guests, and fellow Nigerians,

I am delighted to be speaking to you today on a topic that is very close to my heart and that of the Federal Government of Nigeria. The topic is "Why We Must Tap Our Diaspora Potential for National Development".

As we all know, Nigeria has one of the largest and most vibrant diaspora communities in the world. Our compatriots abroad have made significant contributions to the development of our country, and yet, we have not fully leveraged their potential to drive national development.

The Nigerian diaspora is a treasure trove of skills, expertise, and resources that can be harnessed to accelerate our economic growth, improve our infrastructure, and enhance our global competitiveness. We have a unique opportunity to tap into this potential and reap the benefits of their contributions.

Why should we tap into our diaspora potential?

Firstly, the diaspora has a significant economic potential. According to the World Bank, remittances from Nigerians abroad have been growing steadily, reaching over $20 billion in 2020. This is a significant source of foreign exchange for our country, and we can do more to encourage and facilitate these remittances.

Secondly, the diaspora has a wealth of skills and expertise that can be leveraged to drive innovation and entrepreneurship in Nigeria. Many of our compatriots abroad have built successful businesses and careers, and we can tap into their knowledge and experience to create jobs and stimulate economic growth.

Thirdly, the diaspora has a critical role to play in promoting Nigeria's image and reputation globally. As ambassadors of our country, they can help to promote our culture, values, and achievements, and help to attract foreign investment and tourists to our country.

What are we doing to tap into our diaspora potential?

To tap into the potential of our diaspora, we have established the Nigerian Diaspora Commission, which is responsible for promoting and coordinating diaspora engagement and development. We have also established a Diaspora Desk in the Ministry of Foreign Affairs to facilitate communication and collaboration between the government and the diaspora.

We are also working to create a conducive environment for diaspora investment and entrepreneurship. We have established a number of initiatives, including the Nigerian Investment Promotion Commission, which provides support and incentives for foreign investors, including those from the diaspora.

What can we do to tap into our diaspora potential?

To tap into our diaspora potential, we need to create a culture of engagement and collaboration between the government and the diaspora. We need to provide opportunities for diaspora Nigerians to contribute to national development, whether through investment, entrepreneurship, or volunteering.

We also need to create a conducive environment for diaspora investment and entrepreneurship. This includes providing support and incentives for foreign investors, as well as creating a business-friendly environment that encourages innovation and entrepreneurship.

Finally, we need to promote diaspora engagement and participation in national development. We need to create opportunities for diaspora Nigerians to participate in decision-making processes and to contribute their skills and expertise to national development.

Conclusion

In conclusion, tapping into our diaspora potential is critical for national development. We have a unique opportunity to leverage the skills, expertise, and resources of our compatriots abroad to drive economic growth, improve our infrastructure, and enhance our global competitiveness.

I urge all Nigerians, whether at home or abroad, to work together to tap into this potential and to contribute to the development of our great nation. Thank you.

End of speech