Kano State has accused Nigeria’s official statistics agency of grossly underreporting its foreign investment inflows, claiming it secured over $22 million in the first quarter of 2025, more than 180 times the figure cited by the National Bureau of Statistics (NBS). The state’s investment agency says the disputed data not only distorts Kano’s economic standing but also risks undermining investor confidence.
The NBS, in a widely reported release, stated that only seven Nigerian states attracted any foreign capital in the first quarter, with Lagos and Abuja dominating the inflows. Kano was listed among 30 states that allegedly recorded negligible figures, just $120,000.
The Kano State Investment Promotion Agency (Kan-Invest) has sharply rejected the claim, calling the NBS figure “inaccurate, misleading, and damaging.”
In a statement signed by Kan-Invest’s Director General, Muhammad Nazir Halliru, the agency insists that its own verified records show over $22 million in Foreign Direct Investment (FDI) for renewable energy projects, specifically Compressed Natural Gas (CNG) and Liquified Natural Gas (LNG) programs in the first three months of the year.
Halliru also hinted at a robust investment pipeline awaiting final approval, which he said could surpass the Q1 performance
Kan-Invest says the NBS failed to consult state-level investment bodies before publishing its figures. “It is surprising to see an agency like NBS, which is relied upon by the media for accurate and verifiable data, release wrong information without even contacting states for details,” Halliru said. The agency argues that the omission risks skewing Nigeria’s broader investment picture, potentially discouraging both foreign and domestic investors from exploring opportunities outside the commercial hubs of Lagos and Abuja.
According to Kan-Invest, the Q1 investments include multi-million-dollar commitments from foreign energy firms targeting Kano as a hub for clean energy expansion in northern Nigeria. The projects, they say, align with federal priorities to diversify the energy mix and reduce dependency on petrol and diesel.
The dispute underscores a long-standing tension in Nigeria’s economic reporting: the gap between centrally compiled statistics and on-the-ground investment tracking. Analysts note that such discrepancies can have real consequences both for policy planning and for investor sentiment.
Foreign investment in Nigeria has been volatile in recent years, buffeted by political uncertainty, currency instability, and security challenges. Official NBS data shows overall capital inflows declining sharply from pre-pandemic levels. For states like Kano, which is trying to reposition itself as an investment destination beyond agriculture, correcting the narrative is critical to attracting new capital.
If Kan-Invest’s figures are accurate, they suggest that Nigeria’s investment geography may be more diverse than headline numbers imply. Misreporting could reinforce a perception that investment opportunities are confined to Lagos and Abuja, starving other regions of capital they could realistically attract.
Kano’s challenge also raises questions about the accuracy and transparency of national economic data at a time when Nigeria is seeking to rebuild trust with international lenders, development partners, and global investors. Inconsistent figures risk undermining the credibility of official channels, leaving states to engage in their own data diplomacy to court foreign partners.
Kan-Invest says it will soon unveil a Multi-Sectoral Investment Strategic Plan with a $10 billion target over five years, covering sectors from energy and manufacturing to tech and agro-processing. The agency maintains that Governor Abba Kabir Yusuf’s administration is committed to ensuring “existing investments thrive while attracting new ones,” with policy reforms aimed at reducing red tape and improving infrastructure.
Whether the NBS revises its Q1 report remains to be seen. For now, the row has opened a new front in Nigeria’s debate over data reliability, a fight with stakes that extend far beyond Kano’s borders
