Economic Diplomacy & the Diaspora

I was delighted to have made a presentation at a Multi-sectoral Stakeholders Economic Investment Summit organised bySME Secretariat and hosted at the Lagos Chamber of Commerce, Victoria Island, Lagos Nigeria on Monday 21 January 2019

I used the opportunity to review the Nigerian Economic Diplomacy Initiative (NEDI) of the Ministry of Foreign Affairs of Nigeria under President Muhammadu Buhari. After a general refresher of what NEDI is all about, I dropped the following conclusions on this policy initiative:

• NEDI is a strategically important policy tool with huge potentials to make a structural difference in economic regeneration of Nigeria with focus on non-oil sector
• NEDI made a good start but has clearly not lived up to its biddings. It has failed rather woefully in showing evidence that it has made a convincing start in delivering on the important task of enhancing inter-agency collaborations
• There is no visible effort on the part of NEDI to genuinely engage the Diaspora in a result-oriented way
• Unless there is a change of course, NEDI is marked to fail!

I wrapped up with these sets of recommendations:

• Foreign trade component should be introduced into the operations of all Ministries, Departments & Agencies (MDAs)
• A NEDI Attaché should have a sitting in all major Missions of Nigeria worldwide where possible or the role unambiguously integrated into the duties of all diplomats charged with economic affairs
• A formal working relationship should be initiated with Nigerians in Diaspora Organisation (NIDO) worldwide to enhance professional Diaspora mobilization
• Clear targets should be set for inward investment flows as aconsequence of NEDI activities

Access to the integral PowerPoint Presentation on Economic Diplomacy & the Diaspora is possible:https://1drv.ms/p/s!AuyRKnHzz067wRMWQFFnd28yiaXL