Nigeria launches economic diplomacy policy

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Nigeria has launched Economic Diplomacy Initiative (NEDI), insisting on commitment to ensuring adequate consultation, especially with private sector, in taking vital economic decisions.

Vice President Yemi Osinbajo, who launched the NEDI, an initiative of the Foreign Affairs Ministry, said the country was committed to all Pan African and other deal that had made Nigeria to stand out as a country, with a view to integrate Africa.He said Nigeria was also committed to strengthening economic ties at the official level on issues like technical cooperation, air services, double taxation, investment promotion and protection and citizens’ rights among others.

He noted that the trade and investment ties between countries were driven mainly by their private sector actors. In the case of Nigeria, he said that the private sector was particularly important because it accounted for well over 90 per cent of our GDP. We are fully aware that building a competitive and vibrant national economy of our dream relies on enabling the innovation and dynamism of our private sector operators to flourish.

Geoffrey Onyeama, said NEDI was a platform and mechanism for matching and connecting businesses. According to him, NEDI seeks to surmount all business huddles and barriers by leveraging on the ministry’s presence in 100 countries to match Nigerian and foreign businesses.

“In addition to NEDI, the ministry also created a window for diaspora brain gain, adding that there are millions of Nigeria, who would want to come home if they can find job commensurate to their skills and, conversely we know that there are Nigerian institutions and businesses that are looking for skills not available in the country.We have therefore added a window where Nigerians in diaspora can upload their profile and the ministry will help to match them to needs of businesses and institutions in Nigeria. What NEDI add is a simple credibility and secured environment to grow the Nigerian economy,” he said

He said that the ministry would soon launch an internet base mechanism for validating document with payment online to check corrupt practices.

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