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
Dangote Refinery Exports 1.1bn Litres of Aviation Fuel to Europe, Supplies 95% of Nigeria’s Jet A1 – AON
The Airlines Operators of Nigeria (AON) has described the Dangote Petroleum Refinery and Petrochemicals as a critical pillar of support for Nigeria’s aviation industry, disclosing that the refinery currently supplies over 95 per cent of the Jet A1 fuel consumed nationwide.
Biztellers reports that the company also exported 1.1 billion litres of aviation fuel to Europe between March and April 20.
Speaking during a televised interview, AON spokesperson Obiora Okonkwo said the refinery’s output has played a vital role in sustaining domestic airline operations at a time of global supply disruptions arising from tensions in the Middle East and rising fuel costs.
“It is a matter of fact that over 95 per cent of aviation fuel supplied across the country comes from the Dangote refinery. To airline operators in Nigeria, Dangote is not just a refinery; it is a game changer and, indeed, a lifesaver,” Okonkwo said.
He noted that despite the refinery’s consistent supply, airlines continue to face severe operational strain due to escalating Jet A1 prices, which he attributed to sharp practices within the downstream distribution chain.
According to Okonkwo, some fuel marketers are allegedly creating artificial scarcity in spite of available supply from the refinery, leading to disproportionate price increases. He disclosed that airline operators have recorded Jet A1 price hikes of up to 300 per cent since the onset of the Middle East crisis.
“We consider this exploitation. The refinery has not indicated any shortage, yet we are witnessing artificial scarcity and unjustifiable price increases. What airlines pay does not reflect depot prices,” he said, suggesting the presence of racketeering within the market.
Echoing these concerns after a closed‑door meeting between the AON and the Federal Government, Chairman and Chief Executive Officer of Air Peace, Allen Onyema, described the situation as deeply troubling, particularly given that the Dangote refinery sells its products at comparatively lower rates.
“The truth is that marketers must be called to account. How do prices rise by as much as 300 per cent when Dangote’s supply remains the cheapest and some marketers source directly from the refinery?” Onyema asked. “So, why the astronomical increase?”
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Meanwhile, the Dangote Refinery continues to expand its footprint in the international aviation fuel market. Industry data indicate that the facility exported approximately 876,000 metric tonnes of jet fuel to Europe within the period under review—about 456,000 tonnes in March and an additional 420,000 tonnes by April 20.
These export volumes underscore the refinery’s growing capacity and improved logistics, further reinforcing Nigeria’s emerging role in the global downstream oil and gas market, even as it strengthens domestic energy security.
Photo Caption
From Left: President/CE, Dangote Industries Limited, Aliko Dangote; President of Uganda, H.E. Yoweri Museveni; President of Kenya, H.E. William Ruto, and CEO of the Africa Finance Corporation, Samaila Zubairu, at The Africa We Build Summit in Nairobi, Kenya, on Thursday.
NEWS
Peterside Harps on Strong Leadership at NCDMB Book Reading Series
The Nigerian Content Development and Monitoring Board (NCDMB), on Wednesday at its Conference Centre hosted the 2026 first quarter edition of its Book Reading Series.
With Dr. Dakuku Peterside, former Director-General of the Nigerian Maritime and Safety Administration (NIMASA) as guest author, the event focused on the 204-page publication of the author, ‘Leading in a Storm: Practical Leadership Strategies in Crisis Situations’, published in 2025.
The capacity audience was drawn from higher institutions, the media, Association of Nigerian Authors (ANA), and Nigerian Institute of Public Relations (NIPR), with several others participating virtually.
The Executive Secretary of the NCDMB, Felix Ogbe, represented by the General Manager, Corporate Communications Division (CCD), Dr. Obinna Ezeobi, said the book programme, which he described as “a signature event”, speaks to creativity, which is one of the core values of the Board.
He explained that the event is part of the Board’s strategy in fostering intellectual activity and sophistication among stakeholders, as well as building the abilities of Nigerians to operate productively in the oil and gas industry and linkage sectors, which is one of its core mandates.
The Executive Secretary enumerated several initiatives of the Board geared towards advancement of research and technology; notably six centres of excellence in the nation’s six geopolitical zones, each of which has a unique theme.
These are the Niger Delta University, Amassoma, with Marine and Petrochemical Technologies as theme; the Federal University of Technology, Minna (Engineering Design), and Federal University of Technology, Owerri (Local Raw Materials Substitution).
ALSO READ: PDP Chieftain Explains Why Peter Obi Could Restore National Hope in Nigeria
Others are Modibbo Adama University of Technology (MAUTECH), Yola (Safety and Environment Studies); Usman Dan Fodio University (UDUS), Sokoto (Renewable Energy), and Federal University of Technology, Akure (Geology and Geophysical Studies).
Additional research centres established by the Board include Geosciences Research Centre at the University of Lagos and Marine and Offshore Training Centre at Rivers State University, Port Harcourt.
The latest is the Centres of Excellence in Gas Development at Delta State University, Abraka, being developed in partnership with Seplat Energy Plc.
According to Ogbe, the NCDMB is collaborating with Renaissance Africa Energy Company Limited (RAEC), First Exploration and Petroleum Development Company Limited, and the Nigerian Society of Engineers (NSE), to organise the first Nigerian Engineering Olympiad (NEO), which was launched on November 20, 2025 in Abuja.
The Olympiad is to encourage final-year and postgraduate students to be innovative in applying engineering principles to real-world operational challenges in and out of the oil and gas industry.
In the book conversation segment, moderated by Mr. Victor Binawari, Peterside explained the inspiration behind ‘Leading in a Storm…,’ saying, “My own lived experience informed the contents and thrusts of the work.”
He added, “Every single day, Nigerians face one crisis or another, and the experiences posit weakness of leadership.”
He recalled his time at the National Assembly, when he served as Chairman of the House of Representatives Committee on the Downstream Petroleum sector, with the unremitting crises in fuel supply.
As NIMASA Director General, he said he had to contend with recurring incidents of piracy within Nigeria’s territorial waters.
“Then the COVID-19 pandemic, which saw many world leaders fumbling, unable to determine how best to safeguard the health of citizens,” he said, adding that another inspiration was drawn from an uncomplimentary remark by a professor at America’s Kellog School of Management.
He said, “The professor remarked that ‘Africa is in a near-permanent state of crises.’ I began to investigate how leaders can perform better in crisis situations; calmness, clarity, adaptability, and resilience are critically important. What kind of choices leaders make when faced with crises would reveal the stuff they are made of.”
He outlined eight competencies of leadership, namely: “Contextual intelligence- the ability to read situations accurately and understand the deeper forces at play; Calm Confidence – which provides emotional stability; Sense-making – which enables a leader to find patterns in chaos and make meaning from confusion; Strategic Decision-making; Clear Communication; Strategic Flexibility; Coordinating Teamwork, and Facilitating Learning.
“Every great leader should rank high enough in these.”
On his style, which relies heavily on storytelling, he stated that stories are relatable, memorable and engaging, and that “stories teach you principles which you can apply.”
In closing remarks, Mr. Teleola Oyeleke, Supervisor, CCD of NCDMB, thanked Peterside for readily accepting the invitation and for the wealth of experience he shared at the event.
He also thanked all participants, while advising them to read and digest the contents of the book.
He also echoed the guest author in challenging attendees to have personal development programmes.
NEWS
Political Earthquake Brewing? Peter Obi, Bala Mohammed in Closed-Door Talks
Former Labour Party presidential candidate in the 2023 general election, Peter Obi, on Thursday visited Bauchi State for a closed-door meeting with Governor Bala Mohammed amid growing political realignments in the country.
Obi, who is also a chieftain of the African Democratic Congress (ADC) opposition coalition, arrived at the Bauchi State Government House where he proceeded to a private meeting with the governor at the Presidential Lounge.
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The purpose of the visit was not immediately known as both politicians held discussions behind closed doors.
Details of the meeting remained undisclosed at the time of filing this report.
However, sources within the Government House suggested that the meeting may be connected to recent political developments and possible alignments ahead of future elections, though this could not be independently verified.
Both leaders are expected to brief journalists after the meeting concludes.
Governor Bala Mohammed, who serves as Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, has recently been at the center of political speculation regarding his party allegiance.
On March 31, he reportedly hinted at a possible political shift during a meeting with a delegation of the African Democratic Congress led by former Secretary to the Government of the Federation, Babachir Lawal, at the Government House in Bauchi.
However, his political engagements appeared to take a different turn shortly after, as he also hosted the National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda, alongside Kano State Governor, Abba Yusuf, on April 1 at the same venue.
The latest meeting with Obi has further intensified speculation about ongoing political consultations and possible future alignments among key political actors.





