The reported participation of Nigerian governors at the 11th Global Annual Investment Summit in Dubai, United Arab Emirate, under the aegis of the Nigerian Governors Forum , was a frivolous, wasteful and non-productive exercise. Intended by the NGF to convince investors to invest in Nigeria’s comatose economy, the participation of the governors was another reflection of the bare-faced exhibition of corruption and extravagance.
Undoubtedly, Nigeria and the states of the federation need foreign direct investments. As the 2021 capital importation report from the National Bureau of Statistics showed, 24 out of the 36 states of the federation attracted zero investments in 2021. Consequently the value of the capital importation for that year fell by 30.78 per cent from $9.68 billion in 2020 to $6.7 billion in 2021. Indeed, any reasonable move to shore up capital importation is justified.
For the governors to think that on their own they can attract investors at summits is an act tantamount to undermining the intelligence of Nigerians. It is a tortuous route and unwise move to assume that personal visits and formal meetings will on their own attract genuine investors into the country.
Our state governors need to be advised that attracting investments to a badly run economy as Nigeria is like a hungry wolf advertising itself to be a watchman over a bird hatchery. What will happen to the chicks? Will they survive? Attracting investments requires a trust-building relationship that governors must cultivate. It requires patience, tact, and painstaking effort to resist the temptation of greed and nepotistic exploitation of state resources.
Source: News Formal (newsformal.com)
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