Nigeria might lose over 300 millionaires in the nearest future to investment migration, a disturbing trend for the country.
Millionaires continue to migrate to other countries in search of greener pastures as the national economy undergoes major structural reforms.
Henley & Partners, a global leader in residence and citizenship planning, noted increasing wealth concentration in countries such as the United States (U.S.), Canada, and Greece has largely been the driver of the migration of millionaires out of Nigeria.
Managing Director of Private Clients, Henley & Partners, Troy Hanley, in a virtual parley providing insight into its upcoming Investment Migration West Africa Roadshow, touched on the broader global landscape, said countries such as Nigeria are witnessing a significant loss of millionaires.
He explained that while the number of millionaires is rising in several nations, Nigeria is unfortunately losing high-net-worth individuals due to economic factors.
Henley highlighted the value of investment migration for individuals and businesses. Startup Visa, a company working with Henley for over seven years, shared a compelling story of a long-term partnership.
“Investment Migration is not about leaving your home country; it’s about creating entrepreneurs and giving businesses the platform to grow. Our collaboration with Henley & Partners has been a great success in enabling this,” he said.
Henley said the company is well-positioned to assist clients with mitigating economic uncertainties through its investment migration services.
Also shedding light on the trend, Senior Consultant at Henley & Partners, Chidinma Okebalama, spoke about the strategic benefits of acquiring a second passport, explaining that it provides access to international opportunities and business networks.
She said: “With over 40 investment migration programs globally, Henley and Partners is focusing on those best suited for the Nigerian market, such as the Portugal Golden Visa Program, the Spain Program, the UK Program, the Canada Program and the Caribbean Program.”
The event was designed at educating Nigerians and West Africans on global mobility and investment migration opportunities, had significant media outlets in Nigeria in attendance.
Other participants on the call include Carlo Pagui from Hotel 101 Madrid, Spain; Ryan Guy from Startup Visa Services, Canada; Maryam Mansouri from Range Development in the Caribbean; Fatma Cayir from Bridge Partners in the UK; Christina Tabacco from Golden Gate Global, USA and Florbela Dinis from Mercan Group, Portugal and Greece.
Henley explained that the West Africa Investment Migration Roadshow, will cover Abuja on October 8th, Lagos on October 10th, and Accra on October 15th. He said it will not serve only as an opportunity to emigrate, but a platform for strategic investments, business expansion, and securing global prospects for participants and their families.
Also on the call were Carolina Tenzer, consultant, and Weyinmi Oritsejafor, clients advisor who all lead from the Nigeria office.
“With a focus on connecting individuals to global networks and knowledge, the roadshow aims to equip attendees with the tools needed to thrive internationally while staying rooted in their heritage,” Okebalama explained.
Key sponsors, such as Hotel 101 Madrid, pioneering the affordable hospitality investment model in Europe; Range Developments, leading ultra-luxury hotel projects tied to citizenship programs in the Caribbean; Mercan Group, a global leader in immigration and real estate investments in Portugal; Golden Gate Global, experts in M&A advisory services; in the U.S.A, Bridge Partners, driving the growth of mid-sized businesses; and Startup Visa, enabling entrepreneurs to gain residency through innovative business ventures in Canada, further demonstrated the event’s value. Each partner represents business opportunities and pathways for individuals and businesses to secure their futures on a global stage.
