How Diaspora Investment Summit is empowering entrepreneurs, closing business deals

The 7th Nigeria Diaspora Investment Summit (NDIS) has proven to be a game-changer in empowering Nigerian entrepreneurs and facilitating the closure of crucial business deals, according to Abike Dabiri-Erewa, Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM).

Speaking about the success of the summit, Dabiri-Erewa highlighted how the event has become a vital platform for connecting the Nigerian diaspora with local businesses, fostering innovation, and driving investment.

Dabiri-Erewa expressed her pride in the progress made since the summit’s inception, noting that this year’s event has been the best yet, with promises of even greater strides in the future.

“The quality of the presentations, the talent on display, and the enthusiasm of our diaspora community were exceptional.

“Young Nigerians with innovative ideas and a passion for contributing to their country’s development were given a platform to pitch their ideas and invest in Nigeria”, Dabiri-Erewa said.

The summit, themed “Adapting Stability Through Diaspora Investment: Navigating the Path to Prosperity,” featured a diverse array of industries, including fintech, agribusiness, real estate, manufacturing, and entertainment.

Dabiri-Erewa highlighted the impressive participation of Nigerians from all corners of the globe, showcasing their commitment to investing in the country’s future.

“This summit has brought together a wealth of talent—young men and women eager to contribute to Nigeria’s growth. It’s remarkable to see how the diaspora is rallying around this platform.

“From the smallest business ideas to large-scale investments, the diversity of ideas presented is a testament to the potential we have as Nigerians”, she added.

One of the highlights of this year’s summit was the involvement of the White House, with the Diaspora Advisory Council participating for the first time.

Dabiri-Erewa underscored the importance of this collaboration, noting that Nigeria was the first country visited by the advisory team.  “We are talking about more than just remittances. Imagine 1,000 people pooling $100 each—that’s a substantial investment.

“The White House’s participation signifies a growing recognition of the strategic role of diaspora communities in driving development”, she said. Despite the summit’s successes, Dabiri-Erewa emphasized the need for continuous improvement.

“One key area of focus is the training and preparation of pitchers”, she added. She revealed that while some participants arrived without undergoing training, there is a commitment to ensuring all future pitchers are adequately prepared.

“We want to see more deals closed during the summit, not just after. We’ll work with more institutions and investors to ensure that the pitch sessions lead to immediate action”, she stated.

The summit also drew praise for its organizational efforts, with Dabiri-Erewa acknowledging the hard work of the planning committee and the sponsors, including First Bank, NNPC, UBA, and several other key players.

She also highlighted the growing number of exhibitors, many of whom had to be accommodated in additional spaces due to high demand. Looking ahead, Dabiri-Erewa called for more media involvement in promoting the positive impact of the summit and diaspora investments.

She emphasized the importance of showcasing success stories, highlighting how Nigerians in the diaspora are contributing to job creation, innovation, and the nation’s development.

“We need to tell the stories of Nigerians who are doing great things. These are the stories that should trend. Stories of creativity, passion, and the determination to make a difference”, she said.

Dabiri-Erewa reiterated the importance of collective effort in achieving the vision of a prosperous Nigeria. She urged all Nigerians, both at home and abroad, to collaborate with President Bola Tinubu’s administration to build a stronger, more prosperous nation.

“We all have a role to play. Together, we can build the Nigeria of our dreams”, she said. Investors and entrepreneurs at the 7th NDIS have expressed high praise for the event, noting significant improvements in the summit’s organization and the quality of business pitches.

Speaking with BusinessDay, several participants highlighted the importance of collaboration and the need for continued growth in diaspora-driven investments.

MD Yusuf, Managing Director of VG Energy, shared his enthusiasm for the summit’s progress, noting that it provided a crucial platform for diaspora investors to connect and collaborate.

“The summit is a good one because it allows us, as diasporans, to help each other. We can’t rely on the government alone to do everything for us,” Yusuf emphasized.

He acknowledged that while the pitching process has improved, it remains essential for entrepreneurs to present accurate, data-driven cases for investment.

“We’ve seen better pitchers this time around, and collaboration has significantly improved. But we need to continue challenging ourselves to increase collaborations and take the business forward.

“The event showcased a mix of grassroots innovators eager to move from smaller projects to more substantial business ventures”, he said.

According to Yusuf, this shift in focus was one of the notable differences from past editions, which featured a broader range of established companies.

Entrepreneurs who participated in the pitching sessions also reflected positively on their experiences. Adenike Afweji, popularly known as Yakulikuli, noted the progress she has made since her first pitch at NDIS.

“This year is far better than last year. The moderators, the timing, the feedback, all have been fantastic,” Afweji said.

She emphasized the importance of securing financial support to scale her business, adding that the event provided valuable networking opportunities and exposure to potential investors.

“I expect more opportunities for financing, as small businesses need both knowledge and capital to grow,” Afweji explained. Despite the challenges of pitching within a limited timeframe, she praised the boot camp sessions, which she said had been instrumental in refining her approach.

John Mark Mhenga, a filmmaker and videographer, also shared his positive experience. Reflecting on his journey with NDIS, he described how the summit had supported him through various stages of his career.

“This is my third year pitching, and each year has been better than the last. Last year, I received business support that helped me produce my first feature film, and now I’m back for more opportunities,” he said.

Mhenga expressed his gratitude for the supportive environment fostered by the summit’s organizers.

“The planning committee is not just supportive—they are caring. It’s like a community service. Everyone here is genuinely invested in helping you succeed,” he said.

He also outlined his expectations for future editions of NDIS.  “Next time, I won’t just be pitching. I hope to be partnering or sponsoring, as I’ve seen how the support from NDIS has helped me grow,” Mhenga added.

Despite the overall success, participants acknowledged that there is still room for improvement. Afweji pointed out that while the boot camps are beneficial, more focus on refining pitches from the outset would enhance the experience.

Additionally, a few entrepreneurs noted the challenge of delivering a comprehensive pitch within a limited time frame. Looking to the future, many emphasized the need for increased financial inclusion and more investment in Nigeria’s small businesses.

As they continue to develop their ventures, the hope is that NDIS will remain a vital platform for diaspora investors and entrepreneurs to come together and make a lasting impact on Nigeria’s economic growth.

As one investor concluded, “NDIS is not just an event; it’s a movement. The knowledge, connections, and partnerships formed here are invaluable, and I believe this is just the beginning.”

With the support of key stakeholders and a series of impactful pitching sessions, many believe that the summit has created numerous opportunities for entrepreneurs to secure funding and partnerships, marking a significant milestone in Nigeria’s path to prosperity through diaspora-driven investments.