Diaspora-Led Projects Key to Boosting Foreign Investment in Nigeria
Stella Okengwu, Founder and Chief Executive Officer of Winhomes Global Services Ltd, has outlined how diaspora-led initiatives can significantly boost foreign direct investment into Nigeria, stressing the importance of trust, credibility, and strategic international partnerships.
Speaking during an interview on Diaspora Connect, she said her business focus has been shaped by a long-standing commitment to creating opportunities for Africans in the diaspora, with investments spanning real estate, oil and gas, and the beverage industry.
Nigeria as a High-Potential Investment Destination
Okengwu noted that Nigeria and the wider African continent remain among the fastest-growing consumer markets globally, driven by a large population, entrepreneurial drive, and rising demand across multiple sectors. She argued that these fundamentals make the country highly attractive to foreign investors, provided structural and perception challenges are addressed.
Experience and Trust Key to Changing Perceptions
According to her, reshaping international perceptions of Nigeria requires professionalism, integrity, and direct engagement with potential investors. She emphasized that personal interaction remains one of the most effective tools for changing negative narratives.
"The best way to change perceptions is through personal experience, professionalism, and building trust. When people meet credible Nigerians or responsible business leaders, their mindset changes," she said. She added that she has been actively introducing foreign partners to Nigeria to experience the business environment firsthand.
Foreign Investors Shifting Perception After Visits
Okengwu revealed that several Mexican investors who initially expressed concerns about security in Nigeria changed their views after visiting the country, particularly Abuja. She said these engagements have already led to growing interest in expanding business partnerships, including plans linked to her premium tequila venture.
The entrepreneur disclosed that more than 30 Mexican business representatives are expected to visit Nigeria as part of efforts to expand operations and formally launch her tequila business in the country. She noted that her initial business engagements in Mexico began in 2023 after identifying cultural and entrepreneurial similarities between Nigerians and Mexicans.
Diaspora Nigerians Urged to Contribute to Nation Building
Okengwu encouraged Nigerians in the diaspora to actively participate in national development through investment, mentorship, and international collaboration, stressing that physical location should not limit contribution to economic growth.
"There's nothing wrong with seeking growth abroad, but many Nigerians abroad are beginning to see opportunities back home and are interested in contributing to nation building," she said. She also argued that migration trends should be viewed as an opportunity for knowledge transfer and global networking rather than a national setback.
Calls for Stronger Investment Protection Policies
Highlighting key challenges affecting investment inflows, Okengwu pointed to inconsistent policies, weak maintenance culture, and insufficient protection for investors as major obstacles. She urged the government to adopt stronger legal and institutional frameworks that safeguard both foreign and diaspora investments in Nigeria.
Comparing Nigeria with developed economies, she called for reforms in healthcare, education, and welfare systems, arguing that taxation should translate into visible benefits for citizens. She said countries such as the United States demonstrate how structured policies can protect investments while ensuring social support systems function effectively.
Youth Urged to Focus on Entrepreneurship
Okengwu also advised Nigerian youths to prioritize entrepreneurship and job creation rather than relying solely on political appointments or formal employment opportunities. "Create jobs for yourself before looking for positions," she said.
She maintained that despite economic and structural challenges, Nigeria still offers vast opportunities for investors willing to engage transparently and work with credible local partners.
