The Kano State Investment Promotion Agency (Kan-Invest) has rejected a National Bureau of Statistics (NBS) report that claimed the state attracted only $120,000 in foreign capital inflows during the first quarter of 2025.
The NBS data, widely cited by sections of the media, indicated that only seven states recorded foreign investments between January and March, with Lagos and Abuja leading the list, while 30 others, including Kano, posted negligible inflows.
In a statement issued on Friday, Kan-Invest Director General Muhammad Nazir Halliru said the figures were inaccurate, insisting that Kano recorded more than $22 million in foreign direct investment (FDI) in Q1 2025. He noted that the investments were largely directed towards renewable energy projects, particularly in Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG).
“It is surprising to see an agency like the NBS, which is relied upon by the media for accurate and verifiable data, release wrong information without even contacting states for details,” Halliru said. He described the reported figure as “a significant discrepancy” and stressed that Kano was not consulted before the data was finalised.
The agency called for improved collaboration between the NBS and state investment bodies to ensure accurate and transparent reporting of capital inflows in future.
