Estimated reading time: 8 minute(s)
CLAIM
The Ogun State Governor Dapo Abiodun claimed that his administration has attracted $ 1 billion in investments into the state.
VERDICT
The claim is FALSE
VERIFICATION
Abiodun had on Friday 14th October 2022 inaugurated the Ogun State Investment and Facilitation Agency (OGUNINVEST).
“We have continued to reap bountiful harvests from our commitment as existing investments are thriving and new investments are being attracted. As of today, we’ve been able to attract 36 new investments into Ogun State worth over a billion United States dollars and generated an estimated over 40,000 jobs since inception of Oguninvest,” he said.
In the build-up to the 2023 elections, the National Association of Nigerian Students (NANS) said Abiodun had in the last three years attracted more than 36 investment portfolios worth over $1 billion to the state.
The group added no evidence to back their claim.
They linked the investment to Abiodun’s Award for Industrial Revolution from President Muhammadu Buhari in 2022.
The National Bureau of Statistics in the ‘Nigeria’s Capital Importation’ for the first, second, third, and fourth quarters of 2022, Ogun State alongside twenty-six others were shunned by foreign investors in 2022.
The report showed that foreign investments in the country fell by 20.47 percent ($1.37bn) from $6.7bn in 2021 to $5.33bn in 2022. Nigeria’s capital importation plunged to $1.06bn in Q4 2022 — down by 8.53%
According to NBS, only five out of the 36 states and the federal capital territory (FCT), attracted capital investments in Q4 2022.
While Lagos recorded $600 million accounting for 56.63 percent of the total capital inflow, FCT had $424.50 million, Akwa Ibom had $31.47 million, Anambra had $4 million, and Ondo $0.20 million for the fourth quarter.
For 2022, the report cumulatively showed that only Lagos and Abuja had investments of $billion at 3.61 and 1.63 respectively while others were in millions.
Ogun had no investment in 2022 according to NBS.
Another data made available by Statisense, a reliable Data Tech Company with expertise in Analysis, Infographics, and Training showed that Ogun attracted only a $30.5m investment in 4 years (2019-2022).
Though the state of 2022 claimed to have signed an MOU worth $ 400 million, statistics showed that the state only had $30.5m in investments in four years.
Meanwhile, a civic organization, Paradigm Leadership Support Initiative (PLSI) has ranked Ogun State 28th with a score of 18% on the assessment of the level of transparency and accountability operational in the management of public funds and implementation of public policies in the State.
CONCLUSION:
PLATFORM TIMES can conclude that by the data available for public consumption, the claim that Dapo Abiodun has attracted $ 1 billion investment to Ogun is FALSE
Estimated reading time: 1 minute(s)
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