It is no longer news that the richest man in Africa, Aliko Dangote, the Founder, President and Chief Executive Officer of the Dangote Group has built a refinery in the commercial city of Lagos state, Nigeria. The US$12billion Dangote refinery, a 650,000 barrels per day (bpd) integrated refinery and petrochemical project in the Lekki Free Zone, is Africa’s biggest oil refinery and the world’s biggest single-train facility.

Another prominent oil magnate adjudged to be the richest woman in Africa and worth US$1billion is Mrs. Folorunsho Alakija, the vice chairman of Famfa Oil, a company that is into oil exploration with a stake in the Agbami Oilfield, a prolific offshore asset. The Lagos state based business magnate is also involved in the fashion, real estate and printing industries.

Yet, neither Dangote nor Alakija investment branches are in the Niger Delta region, the hub centre for oil and gas exploration and the sector in which their investments benefit from. While Dangote is from Kano state in the northern part of Nigeria and Alakija is from Lagos state in the South-West, what both business moguls have in common is that they are both in the oil and gas sector and that the location of their investments is Lagos.

Naturally, the headquarters of their oil and gas ventures should have been established in one of the oil producing states, close to the source of raw materials, and not Lagos whose oil producing status is far meager in output to that of the Niger Delta oil producing states. Interestingly, their choice of Lagos as a location is not unexpected as other oil producing companies before them have all chosen Lagos as the destination for their investments despite the difficulty of the ease of doing business there due to the overcrowded nature of the South-West state.

The implications of these mega businesses locations for the Niger Delta oil producing states are losses on jobs, revenues and infrastructures. What this means is that most oil and gas related jobs, revenues, and economic projects that would have been gained if these companies were sited in the Niger Delta are now transferred to favour inhabitants in the state in which the oil and gas companies are now domiciled in.

Sadly, the Niger Delta region (its states) as a location for investment has always been de-marketed, judging by the rampant cases of violence that occur there. This negative branding is also made worse by media platforms that profit more from crises reportage. Based on such reports, the region is being held as lacking the qualities of a viable economic center for investments. This has also affected its state of tangible infrastructures rated as poor despite its status as an oil producing region. And so, Lagos, despite its high rate of insecurity and difficult nature of doing business seems favourable for investment, albeit not without some political backings.

While there have been clamour for major oil companies to relocate to the Niger Delta region, such a call seems to be a political one. Economically, not much has been done by the administrators in the region to show that they are serious with such demands. In other words, while most negative notions being made against the Niger Delta states are wrong, it cannot also be denied that there is no smoke without fire. The core issues that seem to negate the region as an investment center should be critically looked into and addressed.

The Niger Delta region need to be transformed into an economic hub center, not only for the oil and gas industry alone but for all other industries. And for this to happen, the attitude of inhabitants in the region will need to also change. They should consider the long term benefits of having major companies domiciled in their territories and therefore be willing to enter into a memorandum of understanding with them, one that is equitable and fair for all parties involved and which will in turn facilitate the conducive atmosphere that is needed to attract investors.

The administrators in the Niger Delta states must also play their roles too, by ensuring that tangible security and social infrastructures are put in place to ease the way of doing business for the oil and gas, and all other industries in the region, and to cushion the effects of unviable factors in their domains. And what are investors looking for in an economic viable environment? Access roads and bridges, guarantee over assets, and a friendly environment for all.

The Niger Delta region should wake up. We are at the height of oil and gas. And if by now the region's administrators and leaders cannot utilise its comparative advantage to turn the Niger Delta into an economic and investments hub center, then in what era can that feat be accomplished? When it has lost its economic and comparative advantage?

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