FEATURED
REVEALED: ‘Ex-Northwest Governor Loses $120m Fertilizer Plant Investments In Ukraine War’
A former governor from Nigeria’s Northwest region, who presided over his state for eight years, (name withheld), has suffered a huge financial blow with the loss of $120 million investments in Ukraine.
BIGPEN NIGERIA (https://bigpenngr.com) understands that the former governor, who chose to invest in the conflict-prone region to avoid scrutiny, has seen his fertilizer plant bombed and destroyed by Russian missiles.
According to sources, the former governor had invested heavily in establishing fertilizer plants in Ukraine, hoping to tap into the country’s rich agricultural resources.
It was not clear if the investment were his personal funds or the funds of the state he presided over for eight years, but report says his plants were among those targeted and decimated by Russian forces, leaving him with huge financial losses.
Public Affairs Analyst, Mahdi Shehu who gave hint of the development on X (formerly Twitter), @shehu_mahdi, disclosed that the former governor, was trying to evade eagle eyes of anti-corruption agency hence his choice of Ukraine to avoid scrutiny.
BAD NEWS FOR A NORTHWEST GOVERNOR: A former governor from the North West who presided over his state for 8 years has lost $120m investments in UKRAINE.
This is as a result of the ongoing war between Russia and ukraine.
The governor was reported to have invested… pic.twitter.com/dxovH4H5CQ
— Mahdi Shehu (@shehu_mahdi) April 20, 2024
The former governor who is Diabetic and has letter A-Z in his name, in an effort to diversify his investment portfolio and capitalize on emerging opportunities, including huge benefits of exporting fertilizers to Nigeria, had turned his attention to Ukraine.
Findings show Ukraine presented a promising landscape for investment, particularly in the fertiliser industry hence recognizing the potential for growth and profitability, he decided to establish multiple fertiliser plants in Ukraine.
The ongoing war between Russia and Ukraine has had far-reaching consequences, with many investors, including the former governor, bearing the brunt of the conflict. The loss of his investments is a major setback for the former governor, who had hoped to reap dividends from his venture.
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