Billions in the sky: How governors’ foreign trips yielded zero investments
In August 2025, the Foundation for Investigative Journalism (FIJ) dropped a report that should worry every Nigerian taxpayer. Drawing from state budget performance reports and the National Bureau of Statistics (NBS) Capital Importation Report for Q1 2025, FIJ revealed that 30 state governments collectively spent N11.75 billion on international trips and related expenses — mostly […]
In August 2025, the Foundation for Investigative Journalism (FIJ) dropped a report that should worry every Nigerian taxpayer. Drawing from state budget performance reports and the National Bureau of Statistics (NBS) Capital Importation Report for Q1 2025, FIJ revealed that 30 state governments collectively spent N11.75 billion on international trips and related expenses — mostly justified as “wooing foreign investors.” Yet, according to the NBS, these same states attracted zero foreign direct investment (FDI) in that period.
This is not an isolated incident. A separate media analysis showed that from January to June 2025, 29 states spent nearly N80 billion on local and foreign travel. Still, only seven locations — the FCT, Lagos, Ogun, Oyo, Kaduna, Kano, and Ekiti — recorded any form of capital inflow in Q1. The rest delivered nothing but travel bills for citizens to foot.
The optics could not be worse. Nigeria is in the grip of one of its toughest economic periods in decades: inflation is high, unemployment stubbornly persistent, and millions are falling into poverty. Against this backdrop, governors signing off on billion-naira trips that yield no measurable returns is not just reckless; it’s an insult to the very people whose taxes fund such indulgence.
Defenders may argue that investor confidence takes time to build. That is true — but in serious economies, government trips abroad are anchored to measurable outcomes: signed agreements, announced projects, concrete timelines. Here, the returns seem to be photo-ops and vague promises. If investment is truly the goal, why not publish a quarterly scorecard showing the deals sealed and funds received?
The bigger tragedy is opportunity cost. N11.75 billion could fund rural clinics in multiple states, upgrade schools, or fix critical roads that connect farmers to markets. Instead, it vanishes into ticket purchases, hotel suites, and allowances — expenses that benefit the travelling entourage far more than the average citizen.
This pattern also reinforces public distrust. When leaders spend lavishly while delivering little, citizens naturally suspect personal gain over public interest. Transparency and accountability are not luxuries in governance; they are the bedrock of public service.
The solution is straightforward: institute travel spending caps tied to measurable investment returns; require governors to justify each foreign trip in advance; and make post-trip reports mandatory, detailing costs, meetings held, and tangible outcomes. Furthermore, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) should introduce penalties for repeated spending without results.
Nigeria cannot afford “investor tourism.” Every naira spent by government should work as hard as the citizens who earn it. Until governors understand this, we will keep watching billions fly abroad — and come back empty-handed.
Falalu Ahmed is a post graduate student, Faculty of Social and Management Science, Umaru Musa Yar’adua University