Foreign Direct Investments:19 Northern States generate less than 100 million dollars while the South has 32 billion dollars

By Abba Hamisu Sani

Africa-Press – Nigeria. Nigeria being the largest black nation in the world and the the biggest country in Africa has 36 States and Abuja as the country’s Capital.

The major source of foreign earnings for Nigeria is crude oil. Foreign direct Investment is another source of wealth and employment for Nigeria as its population continues to grow.

Currently the Nigerian population is estimated to be more than 220 million as the Northern part has 19 states out of the 36 with high population compared to the southern region which has 17 states with low population.

Available data indicated that Foreign Direct Investments in19 Northern States is less than 100 million dollars while the South has 32 billion dollars.

This can be attributed to different factors such as sea ports that exist in states like Lagos and Calabar ,oil exploration and production in Niger Delta states and other factors that contributed to the provision of an enabling business environment which Northern States failed to provide.

Northern States and low foreign direct Investments

Previously the Northern region which turned out to be 19 states was the part of Nigeria that attracted high foreign investors particularly interns of Agriculture as Groundnuts,cotton ,hides and skins were produced in large quantities for exportation.

But now the story is different and the situation is terrible as Insecurity and poverty took over the areas that use to be at beehive of productivity.

Recently in an effort to change the situation the Arewa Consultative Forum Kano State chapter as an Association with aim of improving the well being of Northerners has in collaboration with Dangote Business school and Media Trust organized a one day Youth Innovators Conference.

The aim of the conference is to identify and promote talents from the 19 Northern States.Dr. Goni Umar is the Chairman Arewa Consultative Forum Kano State chapter. He said the aim of the conference is to identify and promote talents from the Northern States.

And it meant to ginger youths toward entrepreneurship development and draw support from leaders and investors to invest in their innovative ideas. He urged the youths to be deliberate in learning and delay gratification while building business entities.

The state chairman advised the participants to focus on learning and not spend their money on luxury while trying to build a business and endeavor to keep on learning new innovations to build on.

Dr .Goni Umar also stated that ACF is determined to contribute to addressing issues of poverty ,economic deprivation and social inclusion that usually bred the insecurity bedeviling the North.He added that the programme will empower the youths to be more productive in their lives as they must be employed or actively engaged in productive means ,stressing that unemployment encouraged problems like the banditry currently afflicting the North.

Between 2019 and 2031 Northern Nigeria amounted to less than 100 million dollars in Foreign direct Investment. Dr.Ibrahim Ida- Wazirin Katsina is the chairman of the occasion.He commended the organizers of the conference as he said the North can explore the approach to address abject poverty and create job opportunities.

He decried that a large chunk of the poverty in Nigeria is said to be domiciled in the Northern region.

“Foreign direct investment in Northern Nigeria between 2019 and 2021 amounted to less than 100 million US Dollars while in the South the amount is put at 32 billion dollars”He stated.

Bashir Dalhatu -Wazir Dutse is the former Minister of Power in Nigeria during General Sani Abacha’s Military regime. He challenged the ACF to raise the bar by walking the talk with practical actions ,stressing that it should not be business as usual.

He said that poverty is more prevalent in Northern Nigeria and people must get up to the challenge by doing what is expected of them individually and collectively for the solution.

“So many exhibitions have been held in the North but nothing came out of them .We should ensure that this one should be different” He urged

The former Minister appealed to the government and individuals to invest in the products and ideas that the youths exhibited calling on Northern Political leaders especially governors to learn from their southern counterParts .

One of the business tycoons in Nigeria chaired a session

The conference was sub themed into two sessions.Tajudeen Dantata is the Chairman and the Chief Executive Officer MRS oil ,one of the major Oil explorers and Marketers in Nigeria.He chaired a session with the theme “The North in a Dynamic World Creating New Generation of Productive and Innovative Youths”

Adamu Aliyu Kiyawa who is an educationist and Veteran Journalist chaired the Second session on “Building Elite Consensus on Income Diversification ,Financial Inclusion and Wealth Creation in the North”.

At the end of the conference some prominent Northerners provided donations for the participants as an encouragement and as a starter package.Such personalities are the Chairman Board of Directors Union Bank Faruk Gimel who donated 1 million Naira to the winner ,500,000,400,000 to the runner-up while the third position winner received 250,000 Naira.

Other Participants received 50,000 Naira each. It was also announced that General Halliru Akilu a former chief Security to the Nigeria ex- Military President Ibrahim Badamasi Babangida donated the sum of 200,000 Naira to the fourth position as the 5th ,6th and 7th positions were given 1500,000,100,000 and 50,000 respectively.

Among the innovative products exhibited during the conference include :drone ,airplane ,incubator and locally fabricated DNA testing machine .

With this Kind of programmes new generation of entrepreneurs will be encouraged and it will also serve as avenue for young business operators to learn from people that reach their peak like Tajudeen Dantata who is an International Oil tycoon from the northern Nigeria and Adamu Aliyu Kiyawa who excel as educationists and entrepreneur that established Schools and provide educational services beside being a popular Journalist that works in International Media Organisations like BBC.

With regard to low foreign Investment in the Northern region despite the high population the leaders of the region particularly state Governor’s must direct their energy towards providing an enabling environment for Investors.

Security is very paramount, the governor’s need to concentrate on re-strategizing their efforts in tackling security challenges not only in their individual states but within the region as a whole.

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