NEWS
14 States Burn N21bn On Foreign Trips With Zero Foreign Investments
In the past three years, a total of 14 state governments have allegedly expended at least N21.04bn on foreign trips, yet none of them has managed to attract foreign investments successfully.
The states includes; Bauchi, Bayelsa, Benue, Borno, Cross River, Ebonyi, Edo, Gombe, Imo, Jigawa, Nasarawa, Taraba, Yobe, and Zamfara
Despite the influx of $14.85bn from foreign investors into Nigeria between 2021 and the third quarter of 2023, these states have failed to secure a share in the foreign investment pie.
Between 2021 and 2023, a breakdown of expenses on foreign trips by several states reveals Bauchi spending N3.81bn, Bayelsa N1.99bn, Benue N1.33bn, Borno N1.73bn, Cross River N663.16m, Ebonyi N1.01bn, Edo N1.77bn, Gombe N32.09m, Imo N541.23m, Jigawa N1.10bn, Nasarawa N541.26m, Taraba N2.52bn, Yobe N1.24bn, and Zamfara N2.77bn.
Surprisingly, despite these expenditures, there is no tangible result or foreign investments to show for the funds, according to data extracted from state budget performance reports obtained from Open Nigerian States.
It’s worth noting that not all states provided complete budget performance reports, with some only covering two quarters in certain instances.
Kebbi is notably absent from the list of states receiving foreign direct investments during the reviewed period, and unfortunately, there is no available data on the amount spent by the state on foreign-related trips.
The overall absence of foreign investments in these states aligns with a broader decline in investments across the country, attributed to concerns related to insecurity and other prevailing issues during the same period.
The World Bank opined, “Net FDI inflows are negative, reflecting net withdrawals of equity by foreign investors. FDI and FPI flows into Nigeria do not compare favourably with similar economies of the world, reflecting difficulties with FX availability, security concerns, and other structural challenges in recent years.”
Several states mentioned in this report, including Zamfara, Jigawa, and Nasarawa, have been grappling with the scourge of banditry in recent years.
In Zamfara, for example, banditry has become pervasive, affecting almost 14 local government areas.
The situation has led to the abandonment of over 70% of farmlands in the state, with farmers fearing attacks by bandits.
Highlighting the impact on investments, in 2022, the Managing Director of Zamfara State Investment Cooperation, Dr. Anas Hamisu Lawal, pointed out that insecurity was a major factor hindering the attraction of investments into the state.
Lawal said, “The first question they always ask is the security situation in the state..They are willing to invest whenever the security situation improves.”
In 2022, David Olofu, the Benue State Commissioner for Finance, emphasized the significant impact of insecurity on states’ ability to attract investors.
He said “It is obvious that insecurity prevented many states from attracting investors in 2021. How many investors did the Federal Government attract?
“How will investors come even when citizens are not safe? How will investors come when citizens cannot themselves invest in their place?”
In the same year, Governor Godwin Obaseki of Edo State announced a strategic focus on sectors such as technology, agriculture, and entertainment to attract investors to the state.
Despite these efforts, the state has not recorded any foreign investments in the past three years, according to data from the National Bureau of Statistics (NBS).
In 2021, Lawrence Ewhrudjakpo, the Deputy Governor of Bayelsa State, disclosed that Governor Douye Diri was utilizing his foreign trips to attract investors, aiming to enhance the state’s economy.
He said, “We believe that we have procedures, and the governor deserves the attention he deserves to give to investors so that investors are brought to our state as no system that is not interacting with any other system can be very effective. What makes an economy a viable economy is the external investment into the economy.”
The mentioned states continue to face a dearth of foreign investments.
Discussing this situation, Professor Akpan Ekpo, a specialist in Economics and Public Policy at the University of Uyo, explained to The PUNCH, “They are not importing capital for two reasons. First, they don’t have potential investors who will do that. Secondly, there is insecurity in the country. Those things are not fertile ground for investments.”
An ECOWAS Common Investment Market consultant, Professor Jonathan Aremu, added, “It’s simple. It’s because they don’t have attractive factors.
“The factors that attract foreign investment are not available in those states. One thing about investment is that it is crisis shy.
“Investment doesn’t go to places where there are crises. Why? Because investors want stability and predictability in their investments, particularly, having returns on their investments.” he added
NEWS
Oyo Demolishes Kidnappers’ Hideout After Dramatic Rescue of Adelabu’s Sister, Nephews
The Oyo State Government has demolished a building used as a hideout by kidnappers who abducted the younger sister of former Minister of Power, Adebayo Adelabu, and her two children.
The structure, located in the Lakoun community along the Ayegun-Olojuoro Road in Ibadan, was pulled down on Monday following the successful rescue of the victims during a security operation over the weekend.
Mrs. Olaide Adegoke John-Paul, Adelabu’s younger sister, and her 12-year-old twin sons were reportedly held captive in the building before they were freed by security operatives.
SEE MORE: Gunmen Abduct Ex-Minister Adelabu’s Sister, Twin Sons in Ibadan
Confirming the demolition, Oyo-based media platform Oyo Affairs shared a video of the exercise on X, stating, “The Oyo State Government has demolished kidnappers’ den at Lakoun, Ayegun-Olojuoro Road, Ibadan, where the sister of former Minister Adebayo Adelabu and her children were held captive.”
The demolition followed a security assessment of the site led by the Oyo State Commissioner of Police, Oluwagbemiga Abimbola, on Sunday.
Another local news platform, Oyo Matters, also posted photos and videos of the operation, writing, “Oyo Government Demolishes Building Used as Kidnappers’ Hideout in Adelabu Family Abduction, Levels Property to the Ground.”
The government’s action comes days after a coordinated rescue mission that led to the safe recovery of the victims and a major breakthrough in the investigation.
During the operation, two members of the kidnapping syndicate were killed in a gun battle with security personnel, while four other suspects were arrested and later paraded at the Oyo State Police Headquarters in Eleyele, Ibadan.
Security authorities have urged residents to remain vigilant and promptly report any suspicious movements or information that could lead to the arrest of other fleeing members of the gang.
The demolition is widely seen as part of the Oyo State Government’s efforts to dismantle criminal networks, deny kidnappers safe havens, and strengthen security across the state.
The dramatic rescue and subsequent demolition have drawn widespread attention, with many residents applauding the government’s swift response to the high-profile abduction case.
NEWS
‘Enough Is Enough!’ — NLC, TUC Threaten Nationwide Strike Over Insecurity
The Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC) have threatened to embark on a nationwide strike if the worsening insecurity across the country is not urgently addressed.
The labour unions issued the warning during a joint media briefing held on the sidelines of the 114th International Labour Conference in Geneva, Switzerland.
Expressing concern over the rising cases of terrorism, banditry, kidnappings, and violent attacks in several parts of the country, the labour leaders said Nigerians can no longer continue to live in fear while carrying out their daily activities.
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The unions warned that if the security situation continues to deteriorate without decisive government intervention, organised labour may be left with no choice but to mobilise workers for industrial action nationwide.
According to the labour leaders, the persistent attacks on communities, commuters, farmers, and workers have reached an alarming level, requiring urgent and coordinated action from all levels of government.
“Enough is enough,” the labour centres declared, stressing that the protection of lives and property remains one of the fundamental responsibilities of government.
The NLC and TUC also used the opportunity to dismiss claims by some state governors that negotiations were ongoing with workers on a proposed ₦100,000 minimum wage.
They insisted that such claims do not reflect the current state of discussions on workers’ welfare and cautioned against giving the public a misleading impression about ongoing engagements with organised labour.
The unions reaffirmed their commitment to defending the interests of Nigerian workers and called on the Federal Government to take immediate and effective measures to tackle insecurity across the country.
They warned that failure to halt the rising wave of violence and criminality could trigger nationwide industrial action in the coming weeks.
NEWS
‘Crime Has No Tribe’ — Obi Defends Fulani, Condemns Ethnic Profiling
Former presidential candidate Peter Obi has cautioned Nigerians against linking criminal activities to any ethnic group, warning that such generalisations promote division and weaken national unity.
Obi made the remarks in a statement posted on his verified X account on Monday, expressing concern over what he described as a growing tendency to stereotype entire ethnic communities because of the actions of a few criminal elements.
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The former Anambra State governor said he could identify with the experiences of many Nigerians who have faced prejudice and discrimination based on their ethnic origins, stressing that people should be judged by their character rather than their tribe.
“As an Igbo man, I have endured stereotypes, judgment, and labelling solely based on my ethnic origins. This is not an isolated Igbo experience. Most Nigerians have, at some point, been reduced to their ethnicity rather than recognised for their true character,” Obi stated.
He noted that ethnic stereotyping is a challenge faced by people across the country and should not be encouraged under any circumstance.
Obi specifically spoke about the plight of ordinary Fulani people, saying many of them are unfairly judged and blamed for crimes committed by individuals who neither represent nor have any connection to them.
“I understand the pain of the ordinary Fulani man today, often unfairly judged by the actions of criminals he does not support, has never met, and who are not representative of his people,” he said.
Drawing parallels with the civil rights movement in the United States, Obi referenced the words of renowned civil rights leader Martin Luther King Jr., who advocated for a society where individuals are judged by the content of their character rather than by their identity.
According to Obi, criminality is an individual act and should never be viewed as a characteristic of an entire ethnic group.
“Crime has no ethnicity. A thief is a thief. A terrorist is a terrorist. A kidnapper is a kidnapper. They are bad actors, not representatives of any people,” he declared.
The former governor urged law enforcement agencies to remain focused on identifying, arresting and prosecuting criminals without attaching their actions to entire communities.
“They must be identified, arrested, and punished according to the law. We must decisively abandon the dangerous practice of blaming entire ethnic groups for the actions of a few criminals,” Obi added.
He warned that ethnic profiling only deepens social divisions, breeds mistrust among citizens and creates opportunities for political actors to exploit differences for personal gain.
Obi further called on Nigerians to embrace the country’s diversity and focus on shared values that unite the nation rather than stereotypes that divide it.
According to him, Nigeria’s strength lies in its diversity, and citizens must work together to build a society founded on fairness, justice and mutual respect.
“A new Nigeria must emerge—one where no citizen is condemned because of tribe, religion, or birthplace,” he said.





