Nigeria has moved past its period of economic instability, Vice‑President Kashim Shettima announced, assuring investors that the country is now an attractive destination for investment. Speaking at the 2025 Bauchi State Investment Summit, Shettima credited the milestone to President Bola Tinubu’s administration, which has worked to remove obstacles hindering economic progress. Since taking office in 2023, Tinubu’s government has sought to reverse a looming financial crisis, cutting the debt‑service‑to‑revenue ratio from nearly 100 percent to under 50 percent. As of last month, the Gross Domestic Product (GDP) growth rate stands at 4.23 percent, non‑oil revenues have risen 411 percent year‑on‑year, and the tax‑to‑GDP ratio has increased to 13.5 percent from 7 percent a few years ago.
Shettima highlighted several improved economic indicators, including a debt‑to‑GDP ratio of 38.8 percent—well below the limits set by the Fiscal Responsibility Act, ECOWAS, and the World Bank. External reserves have also grown to $43 billion as of September 2025. Emphasizing that stability is essential for investment, he noted that no business system can be considered suitable if it cannot predict investment outcomes. The administration’s development plan prioritizes job creation, food security, value‑chain development, and unlocking subnational comparative advantages.
Bauchi State, in particular, offers vast opportunities in agriculture, solid minerals, tourism, and renewable energy. Its natural resources and cultural heritage can boost tourism, hospitality, and the creative industries, while its renewable‑energy and gas potential can power industrial clusters. Former President Olusegun Obasanjo stressed the need for partnership to strengthen businesses, outlining the five Ps—Politics, People, Protection, Partnership, and Progress—as the foundation of good investment. He expressed concern over Nigeria’s cement industry and called for action to reinforce it.
Bauchi Governor Bala Mohammed thanked the Vice‑President for his support, assuring investors of their safety and the implementation of the summit’s recommendations. North East Governors’ Forum Chairman Governor Babagana Zulum of Borno praised the Bauchi governor for convening the summit and urged investors to tap into the state’s resources. With improved economic indicators and abundant investment opportunities, Nigeria is now poised to attract investors and drive economic growth. The government remains committed to ensuring security and creating a conducive business environment as the country’s journey toward economic stability continues.
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