In a jaw-dropping revelation, it has been exposed that despite splurging a staggering N21.04 billion on foreign trips over the past three years, 14 Nigerian states have utterly failed to secure any foreign investments within their borders. These states, including Bauchi, Bayelsa, Benue, Borno, Cross River, Ebonyi, Edo, Gombe, Imo, Jigawa, Nasarawa, Taraba, Yobe, and Zamfara, stand accused of mismanaging resources, with not a single dollar of the $14.85 billion that foreign investors poured into Nigeria between 2021 and the third quarter of 2023 finding its way into their domains.
Delving into the specifics, it is revealed that from 2021 to 2023, Bauchi alone spent a whopping N3.81 billion on foreign trips, yet there is no tangible return on investment to show for this expenditure. The situation is echoed across other states like Bayelsa (N1.99 billion), Benue (N1.33 billion), Borno (N1.73 billion), Cross River (N663.16 million), Ebonyi (N1.01 billion), Edo (N1.77 billion), Gombe (N32.09 million), Imo (N541.23 million), Jigawa (N1.10 billion), Nasarawa (N541.26 million), Taraba (N2.52 billion), Yobe (N1.24 billion), and Zamfara (N2.77 billion).
These startling figures, extracted from state budget performance reports, paint a picture of financial mismanagement and questionable priorities. As the consequences of these lavish foreign trips become apparent, questions arise about the accountability and efficacy of such expenditures, leaving residents and observers bewildered by the lack of foreign investments despite the substantial outlay.
