Kano Blasts NBS Over Investment Report, Declares “We Got $22 Million!”

The Kano State Investment Promotion Agency (Kan-Invest) has strongly dismissed a recent National Bureau of Statistics (NBS) report claiming the state received only $120,000 in Foreign Capital Inflows for the first quarter of 2025.

According to IREPORTER ONLINE, the controversial NBS figures were widely circulated in the media, suggesting that only seven states attracted any foreign capital in Q1 2025, with Lagos and Abuja dominating the list, while 30 states, including Kano, recorded negligible inflows.

In a statement signed by Kan-Invest’s Director General, Muhammad Nazir Halliru, the agency clarified that in Q1 2025 alone, Kano secured over $22 million in Foreign Direct Investment (FDI) for renewable energy initiatives, particularly in Compressed Natural Gas (CNG) and Liquified Natural Gas (LNG) programs.

He also revealed that several other investment proposals are in advanced stages and set to exceed the Q1 inflows.

Halliru criticised the NBS for publishing what he described as “inaccurate and misleading” data without verifying facts with the state.

According to IREPORTER ONLINE, he expressed shock that an institution trusted for reliable economic statistics would release such figures without consultation. He stressed that the reported $120,000 grossly underrepresents Kano’s actual FDI performance.

Highlighting the investment pipeline, Halliru reiterated that the state attracted over $22 million in renewable energy and CNG-related ventures in the first quarter alone, alongside significant pending projects.

He emphasised that correcting the record is vital to portraying Kano’s true investment appeal and to align with ongoing reforms that aim to improve the business climate.

According to IREPORTER ONLINE, the state government is also preparing to unveil a comprehensive Multi-Sectoral Investment Strategic Plan targeting $10 billion in investments over the next five years.

Halliru assured that Governor Abba Kabir Yusuf’s administration is committed to nurturing existing investments while aggressively courting new ones in line with Kano’s strategic economic agenda.

”IREPORTER REPORTS”