A former Vice Chancellor of Ahmadu Bello University, Zaria, has raised concerns over the growing practice of wealthy northerners investing significant portions of their wealth outside the region, saying the trend is limiting the North’s ability to build a stronger local economy.
The former university administrator said the North possesses substantial human and material resources capable of supporting a thriving economy, but argued that much of the wealth accumulated by its elite is being channelled into investments in southern parts of the country.
According to him, the pattern has implications beyond individual investment decisions because capital plays an important role in creating businesses, employment opportunities and economic activity within a region.
He noted that when wealthy individuals invest heavily in other parts of the country, the benefits associated with those investments, including jobs, business expansion and supporting industries, are also created largely outside their home communities.
The former vice chancellor therefore called for greater efforts to encourage wealthy individuals and businesses in the North to reinvest more of their resources within the region.
He argued that the region has sufficient opportunities for investment across sectors, including agriculture, manufacturing, education, technology, housing, mining and other productive areas.
The comments come amid continuing concerns about the economic development gap between different parts of Nigeria and the need to mobilise private capital to support local production and job creation.
For the North, increased domestic investment could help strengthen value chains around its agricultural and mineral resources while creating opportunities for young people and reducing dependence on economic activity concentrated in major commercial centres elsewhere in the country.
The former ABU vice chancellor also stressed the importance of developing an environment capable of attracting and retaining private investment. Such an environment would require stronger infrastructure, improved security, access to finance, reliable electricity and policies that give investors confidence to commit capital for the long term.
His remarks highlight the broader question of how Nigeria’s private wealth is distributed geographically and how investment decisions can influence regional economic development.
While individuals have the right to invest wherever they consider commercially viable, increased investment in the North could potentially expand the region’s productive capacity and create more opportunities for businesses and communities.
The issue also places responsibility on governments and business leaders to address structural challenges that may discourage investors from committing their capital locally.
For the North to translate its large population, agricultural potential and natural resources into stronger economic growth, investment in productive enterprises will remain critical.
The former vice chancellor’s intervention therefore adds to the wider debate about capital retention, regional development and the role of the northern elite in shaping the economic future of the region.
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