Nigerian govt launches Economic Diplomacy Initiative, explains objectives

The Federal Government on Friday launched the Nigerian Economic Diplomacy Initiative, NEDI, to among other aims, bridge the gap between local talents and Nigerians in Diaspora, as well as help achieve the objectives of the Economic Recovery and Growth Plan.

During the launch of the initiative at the Banquet Hall of the Presidential Villa in Abuja, Vice President, Prof. Yemi Osinbajo stated that NEDI will help the President Muhammadu Buhari administration build a vibrant and competitive national economy.

He explained that the initiative will bring the capacities of the Nigerian Foreign Service, through the Ministry of Foreign Affairs and its network of over 114 overseas Missions, to bear in promoting trade and investment flows between Nigeria and the rest of the world.

Osinbajo, was quoted in a statement issued by his media aide, Laolu Akande as saying, “The Nigerian Economic Diplomacy Initiative is designed to complement the fundamental economic objective of the Federal Government of Nigeria, which is to improve the wellbeing of Nigerians as individuals and as a collective.

“Our national economic aspirations in the medium-term are contained in the Economic Recovery and Growth Plan (ERGP) which emphasizes sustained growth to generate the large number of jobs we urgently require. As designed, this initiative fits very well into the ongoing work towards an enabling architecture of laws, rules, processes and tools that facilitates business.

“The fact that this initiative will enable Nigerians in the Diaspora to find opportunities to contribute to national development through short-term assignments or by securing jobs, is a particularly pleasing component of this initiative and it is one I think we ought to pursue vigorously.

“It is very important for us as a nation to effectively utilise our human and material resources. This initiative will contribute to this objective by enhancing the capacity of our diplomats, to conduct economic diplomacy at a very practical level at home and abroad. Once it is fully up and running, the Nigerian Economic Diplomacy Initiative stands to make a critical contribution to achieving the objectives of the Economic Recovery and Growth Plan.”