The Fourth Nigerian Direct Diaspora Investment Summit (NDDIS), set to take place in London next month has received major backing from former president Chief Olusegun Obasanjo, where three initiatives are planned to be unveiled.

NDDIS 2017 will focus on developing government plans to diversify the Nigerian economy to end dependancy on oil. Aiming to tap into the potential of the diaspora as well as foreign direct investors, they will link them with the federal and Nigerian state governments.

Among those who will be attending will be Governor Akinwunmi Ambode of Lagos State; Senator Lanre Tejuosho, the chairman of the senate committee on health; Hon Abike Dabiri-Erewa, the special assistant to President Muhammadu Buhari on diaspora affairs and the chair of the Diaspora Committee at the House of Representatives, Hon Rita Orji. Now Chief Obasanjo has said he will send Ayo Aderinwale, the deputy coordinator of the Obasanjo Library to represent him at the event.

One of Chief Obasanjo's initiatives, the African Leadership Forum (ALF) will be representedby Dr Olumide Ajayi, Chief Executive of the organisation. Set up in 1988 to improve the quality of leadership across Africa while also training the next generation of leaders for the continent.

NDDIS chairman Chief Bimbo Afolayan said: "The overall name for the initiative is Diiss but it is made up of three parts. This includes the diaspora adaptive programme, the portfolio investment scheme and the direct business ownership scheme.

"Taking place at the School of Oriental Studies (Soas) in central London on July 13 and 14, NDDIS has identified 250 existing diasporan businesses that will like to set up their models in Nigeria to provide employment. It will be followed by a summit dinner on Saturday 15th July and among those supporting the event are UK Trade & Investment, the Afford UK, Soas, the British African Business Alliance and the Foreign and Commonwealth Office."

Chief Afolayan called on anyone willing to register for the event to visit where they will be able to purchase their tickets online. He added that, the vice president, Professor Yemi Osinbajo has shown an interest in the summit and will be sending a delegation if he is unable to attend.