Unlocking Nigeria’s Investment Potential: A Call for Governors to Focus on Local Solutions Over Foreign Trips

A WhatsApp post referencing the Open Nigerian States data for the last three years showed that 14 state governors spent over 20 billion Naira on foreign trips to woo investors. Still, none was among the states that attracted $14.85bn inflow into Nigeria within the same period.

My response to the above was simple to me. The Californian governor can look for investments without coming to Nigeria because the investors would believe the United States Ambassador reports on the non-bankability of our economic systems more than any overtures from a governor coming into the US to woo investors.

Besides, fair view risk assessments on vandalism in all sectors (electricity, oil, and gas), insecurity, kidnapping, banditry, militancy, ease of doing business, multiple taxations, and demands from agitators across the nation, which are in the open for anyone to read like books cannot make the gravitation of investors to some regions in Nigeria possible.

I came to the City of Warri in the late 70s. Warri was where to be in Nigeria. We cannot say the same of Warri today because of the hostile business environment. Except we changed the variables that caused the investors to flee the city and Nigeria, other investors will not dare return because bad news never quickly gives way to good news.

The governors should, therefore, utilize the money used in tourism abroad to attract investors to abate insecurity, create wealth, and emplace an enabling environment in their domains for investments to thrive. These are some of the low-hanging fruits they can aim to attract investors and investments.