by: Andrea Spinelli Barrile | April 30, 2024
The Nigerian government has launched a tender for an asset fund manager who will have to design, set up and manage an investment fund intended to capture part of the diaspora’s remittances to support projects in priority sectors such as infrastructure, health and education. This fund, whose size has been set at $10 billion, will last 10 years but could be extended by another two years.
The Nigerian media reported it.
Its launch “is part of broader efforts to strengthen ties between Nigeria and its diaspora, promote national development and harness the potential of 20 million Nigerians living abroad as agents of change and development,” the Ministry of Industry, Trade and Investment in a note on the sidelines of the tender notice. The ministry added that interested fund managers must have had verifiable operations in Nigeria within the last five years, experience in raising capital and managing large and profitable venture capital funds. You can submit your application by May 6, 2024.
According to World Bank data, remittances from Nigerians living abroad amounted to $20.1 billion in 2022.
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