FG Gives Companies More Time to Apply for $10 Billion Diaspora Fund

FG has given companies more time to apply for the $10 Billion Diaspora Fund with a fresh deadline extension to May 13, 2024.

 

NewsOnline Nigeria reports that the Federal Ministry of Industry, Trade and Investment has extended the deadline for companies interested in managing the $10 billion Diaspora Fund to apply.

 

This Nigeria news platform understands that the deadline was moved from May 6 to May 13, 2024.

 

Minister, Doris Uzoka-Anite, made this disclosure in a circular on Thursday in Abuja.

 

Uzoka-Anite stated that the extension is designed to allow stakeholders additional time to adequately prepare their applications following the guidelines established for the fund.

 

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The minister urged prospective applicants to utilize the extra time to complete their submissions, ensuring they are thorough and competitive.

 

“The Federal Ministry of Industry, Trade, and Investment wishes to inform all interested parties that the deadline for the submission of Expressions of Interest (EOI) for the Nigeria Diaspora Fund has been extended.

 

“The new submission deadline is May 13, 2024. This extension is intended to accommodate stakeholders who require more time to prepare their applications in accordance with the guidelines provided for the $10 billion Nigeria Diaspora Fund.

 

“The EOI is open to Fund Managers interested in the development and establishment of a Multisectoral, multilateral private sector-led investment fund. We encourage prospective applicants to use this additional time to finalise their submissions that meet the outlined criteria, ensuring comprehensive and competitive proposals.

 

“For further inquiries or additional information, please contact the Federal Ministry of Industry, Trade, and Investment during office hours (8:00 AM to 5:00 PM),” the Minister said.

 

Recall that the Federal Ministry of Industry, Trade and Investment (FMITI) had invited eligible firms to indicate interest in providing services as Nigeria Diaspora Fund managers.

 

The announcement was made on Thursday by the Minister on her X account.

 

According to her, these fund managers will be responsible for the development and establishment of a multi-sectoral, multilateral, private sector-led investment fund to form the $10 billion Nigeria Diaspora Fund.

 

According to Uzoka-Anite, the ministry has initiated several moves aimed at fostering private sector and foreign direct investments into the Nigerian economy.

 

See here the requirements for the Diaspora Fund.