Eze Madumere, former Deputy Governor of Imo State,and a chieftain of the All progressive Congress Chieftain (APC) has called on Nigerians in Diaspora to maximise the conducive and favourable business climatic condition created by the President Muhammadu Buhari-led administration to think home and invest their resources and expertise.
Madumere, while interacting with Nigerians in the United States of America, stated that Nigeria’s improved ranking on the latest World Bank ease of doing business index which saw the country move up 15 places and which has placed the nation as one of the most improved economies in the world for running a business is an evidence that the Presidential Enabling Business Environment Council (PEBEC) which is saddled with the aim of minimizing the constraints that come with running businesses in the country has performed above average.
He highlighted some of the reforms which the council has put together toward making it more convenient for Nigerians in Diaspora to come home and invest to include the Nigeria Immigration Service policy of visa on arrival for those desirous to set up businesses, the Corporate Affairs Commission policy of cutting down the time it takes to register a business, the Ministry of power’s new grid connections for electricity.
Madumere advised Nigerians in the Diaspora on the need to transit from remittances for sustenance to remittances for investments and economic development as World Bank estimates that global remittances grew 10 per cent to $689 billion in 2018, with developing countries receiving $528 billion of this while Sub-Saharan Africa receives a relatively small share of this (less than $60 billion) and Nigeria accounts for over a third of all the remittances.