The Chief Executive Officer of Pelican Valley Nigeria Limited, Dr. Babatunde Adeyemo, has emphasized the importance of diaspora investment in driving Nigeria’s economic growth and development.
Speaking at a sensitization and advocacy program for promoting diaspora investment potentials in Southwest Nigeria, Dr. Adeyemo noted that Nigerians in the diaspora have a critical role to play in promoting Nigeria’s investment potentials and facilitating investments in the country.
He cited the Detty December phenomenon, where Nigerians in the diaspora return home for the festive season, as an example of the immense resources at the disposal of Nigerians abroad.
According to him, diaspora remittances during the 2024 Detty December festivities contributed a significant four percent to Nigeria’s Gross Domestic Product (GDP).
“I strongly believe that the theme of this programme ‘Promoting Diaspora Investment Potentials in Southwest Nigeria,’ aligns perfectly with my passion for harnessing the potential of our diaspora community to drive economic growth and development in Nigeria.
“The Detty December phenomenon presents a unique opportunity for real estate investors and developers to tap into the growing demand for short-term rentals, luxury accommodations, and entertainment-driven properties, thereby diversifying their portfolios and increasing their returns on investments,” Dr. Adeyemo explained.
Dr. Adeyemo also showcased his company’s projects, including the Ecostay Apartments, which offer eco-friendly features, security, and exclusive amenities.
“At Pelican Valley Nigeria Limited, we are committed to partnerships that would promote Nigeria’s investment potential. We believe that by working together, especially with our countrymen and women in the diaspora, we can unlock the vast potential of our nation and create a brighter future for ourselves and for generations to come,” he said.
He encouraged Nigerians in the diaspora to invest in Pelican Valley’s real estate projects, highlighting the potential for high returns on investment and the opportunity to contribute to Nigeria’s development.
“Our company has been at the forefront of facilitating investments in various sectors, including real estate, agriculture, infrastructure development, luxury, nature and hospitality. We have received another government approval for the extension of the Pelican Brief Estate and Ecostay apartments,” Dr. Adeyemo announced.
He emphasized the need for collaboration among stakeholders, including developers, investors, architects, engineers, and government agencies, to deliver successful projects.
“One thing about the real estate business is that it is collaborative; it requires the efforts of various stakeholders to successfully deliver projects that meet the needs of clients and communities,” Dr. Adeyemo noted.
He also called on the government to provide incentives such as tax breaks, subsidies, or other benefits to encourage diaspora investment.
“Government should provide incentives such as tax breaks, subsidies or other benefits to encourage diaspora investment. Through outreach programmes, events and social media, government can engage with diaspora communities to raise awareness about investment opportunities advised.
“As the CEO of Pelican Valley Nigeria Limited, I have had the privilege of working with over one thousand diaspora investors who have recognised the monumental potential of our great nation and company,” Dr. Adeyemo said.
Finally, Dr. Adeyemo expressed his gratitude to the chairperson of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, for her efforts to promote strategic collaboration and engagement between the Federal Government and Nigerians in the diaspora.
“I want to specifically thank the chairperson of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, for her efforts to promote strategic collaboration and engagement between the Federal Government and Nigerians in the diaspora,” Dr. Adeyemo said.
Also speaking, the Coordinator of NIDCOM Direct Investment Summit(NiDDIS), Bimbo Folayan, expressed the willingness of Nigerians in diaspora to bring their wealth back home for investment but lamented the atmosphere of inadequate support from the government, especially in the Southwest.
Folayan who participated virtually from the United Kingdom, recalled that the organisation initiated many programmes and summits across the country in the past to mobilise the diasporan to invest back home, lamenting that while states such Kaduna, Jigawa and Bayelsa benefited from them, it yielded no appreciable results in the Southwest because the governments of the region failed to do a follow up such initiatives.
He expressed the confidence that with the initiative NIDCOM under the watch of Hon. Abike Dabiri – Erewa, is championing, the situation would change for better, saying Nigerians living abroad have funds, grants and business ideas they can invest back home to bring prosperity to the Southwest of Nigeria.
Speaking earlier, the NIDCOM boss, Abike Dabiri – Erewa highlighted some of the steps being taken by the agency to encourage diaspora investment which include building trust, synergy and creating awareness about investible opportunities at home for the diaspora to explore.
She disclosed that NiDCOM was also discussing with the Bank of Industry to assist small and medium enterprises access funds to either start business ideas or expand on the existing ones.
She hailed the Pelican Valley CEO, Babatunde Adeyemo, for making a success story of real estate business in Nigeria after leaving the journalism profession, and urged the participants at the programme to learn and adopt his model of business.
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