The Sultan of Sokoto Muhammad Sa’ad Abubakar has challenged Northern leaders to undertake an honest review of the numerous investment summits that had taken place across the region over the years.
He said that “the time has come to evaluate promises against performance”.
He was speaking at the opening of the ongoing Bauchi State Economic and Investment Summit with a theme “Building a Resilient Economy: Optimising Investment and Partnerships.”
Sultan Abubakar said “We have attended economic summits in Kaduna, Kano, Taraba, Abuja and many others over the past decade. We have convened countless investment summits in the North.
“We heard lofty speeches, signed MoUs, and made grand declarations. But where are the results? How many factories have we revived? How many youths have found jobs? How many investors who came to our summits actually stayed?”
The Sultan proposed a comprehensive evaluation of past Northern investment summits, beginning with Bauchi, Kaduna, Kano, Katsina, Gombe, and Borno, among others.
He said such a review would expose systemic weaknesses — from poor follow-up mechanisms and weak monitoring frameworks to the lack of infrastructure, policy consistency, and security challenges that often scare away investors.
“We need to track the journey from promise to progress,” he said. “Every MoU signed must have a visible footprint. Investors should not return home with handshakes alone. We must create an environment where investment thrives — with roads, electricity, and security in place.
He commended the Bauchi State Governor for taking the bull by the horn to organised.this summit and urged investors to invest in Bauchi because of the potentials and peace and security.
Declaring the summit open President Bola Ahmed Tinubu has explained that Nigeria is now ready for massive investment, urging both local and foreign investors to take advantage of the new economic opportunities in the country.
Represented by the Vice President Kashim Shettima at the Bauchi Investment Summit Tinubu said the economic reforms introduced by his administration have helped stabilise the economy and rebuild investor confidence.
“Nigeria has exited a space of economic instability, and I assure investors present here that there is no better time to choose Nigeria than now,” Tinubu said.
The President commended Bauchi State Governor, Bala Mohammed for organising the summit, which he described as “a march into the future.” He said that subnational efforts like Bauchi’s are crucial to achieving national economic growth and shared prosperity.
He identified Bauchi’s huge potential in agriculture, solid minerals, tourism, and renewable energy as key areas that align with the Federal Government’s agenda of diversification and job creation.
“Bauchi can drive climate-smart agriculture, commercial agro-skills, and agro-processing linked to both national and export markets,” Tinubu said. “Its solid mineral reserves also offer great opportunities for responsible mining and industrial growth.”
Tinubu listed major achievements of his administration, including the reduction of the nation’s debt-service-to-revenue ratio from 100 percent to less than 50 percent, a 400 percent increase in non-oil revenue, and a GDP growth rate of 4.23 percent as of last month.
He said that Nigeria’s external reserves had risen to $43 billion as of September 2025, while the tax-to-GDP ratio had improved to 13.5 percent, compared to 7 percent a few years ago. He said these gains were made possible by “bold reforms” that promote productivity over consumption.
“We cannot guarantee growth and stability without peace and development. There can be no peace without development, and no development without peace,” he added.
The President commended business tycoon Alhaji Muhammadu Indimi for pledging a $250 million investment in Bauchi State, calling on other investors to partner with the state and federal governments to explore viable and bankable projects.
He called on participants to go beyond discussions and take practical steps by signing investment agreements that will lead to visible results before the next summit.
“This is not the time for mere talk. Let us move from paper to performance so that by next year, we can point to tangible project milestones,” he said.
Tinubu reaffirmed his administration’s commitment to creating a business-friendly environment through transparency, strong partnerships, and consistent policies, assuring that Nigeria “remains open to genuine investors willing to partner in nation-building.”
Former President Olusegun Obasanjo said Nigeria needs to attract both local and foreign investments to achieve sustainable growth.
Speaking while commissioning the newly built Sir Ahmadu Bello International Conference Centre , Obasanjo described the facility as a world-class project that will help position Bauchi as a hub for tourism and investment.
“What others have and pride themselves on is not more than what we have,” Obasanjo said. “This world-class centre can become one of Nigeria’s leading tourist attractions.”
He also commended Governor Bala Mohammed for his vision and promised to support the state’s investment drive.
“Not only are we commissioning this, but we are also starting with a conference on investment. What Nigeria needs today is to mobilise investments locally and internationally. I will go anywhere with the governor to attract investments to Bauchi State,” he added.
Governor Bala Mohammed assured investors that Bauchi is ready to protect both them and their investments.
“We will make you and your investment safer than us. We will make you more important than us,” the governor said.
He explained that the state government plans to improve water management and expand solar-powered projects across local government areas to boost industrial growth and social services.
The Chief Executive Officer of Architectronix Nigeria Limited, Ruben Okoya , the firm that handled the project, described the new conference centre as a “masterpiece conceived and completed under the visionary leadership” of Governor Mohammed.
He said the facility sits on 10,000 square metres, can host 3,000 people, and includes five main halls capable of holding up to ten separate events at once. It also has an outdoor event space for 2,500 guests, a mosque, solar installations, standby generators, and full internet connectivity.
“Every square metre of granite used in this facility was sourced from Bauchi State,” Okoya said. “This project was executed 100 percent locally, showing that when leaders believe in local capacity, great things happen.”
He urged the Federal Government to consider hosting national events such as the Nigeria Oil and Gas Summit in Bauchi, citing the state’s new infrastructure and its oil-producing status.
He recalled that the project’s foundation was laid in March 2021 by Governor Babagana Zulum of Borno State, who was a guest at the time, and expressed delight that the vision had now become a reality.
Our reporter reports that the Bauchi Investment Summit, attracted key figures including the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, former President Olusegun Obasanjo, Former President Goodluck Jonathan Borno State governor, Babagana Zulum, former Bauchi State Governors and military administrators ,government officials, Ambassadors, diplomats ,development partners, and business leaders from within and outside the country .
