By ZAKAA LAZARUS
Vice President Kashim Shettima, on Wednesday, assured investors that the most appropriate time to invest in Nigeria is now.
Speaking at the Bauchi Investment Summit 2025, Shettima noted that Nigeria has exited the phase of economic instability, he attribute the turnaround to bold reforms by the administration of President Bola Tinubu, which dismantled long-standing obstacles to economic progress.
According to him, “When we assumed office in 2023, Nigeria’s economy was tottering on the edge, with a debt service-to-revenue ratio of nearly 100 per cent,” the Vice President said.
“Under President Tinubu, that ratio has now dropped to below 50 per cent. GDP growth stood at 4.23 per cent as of last month. Non-oil revenues grew by 411 per cent year-on-year, tax-to-GDP ratio has risen to 13.5 per cent, and our external reserves have climbed to 43 billion dollars as of September 2025.
“Nigeria has exited its phase of economic instability, and I assure investors that there is no better time to choose Nigeria.” he assured.
The Vice President further explained that the administration’s first major step was to remove what he described as “termites in the timber of our national progress” by harmonising exchange rates and ending the fuel subsidy regime, which had become a “theatre of round-tripping and rent-seeking.”
“You cannot guarantee enduring growth without stability,” he said. “No system is suitable for business if it cannot predict investment outcomes. Nobody builds a house in a tsunami.”
The Vice President outlined key priorities in the government’s economic blueprint, including job creation, food security, value-chain development, and unlocking subnational comparative advantages.
He said Bauchi State’s abundant arable land, solid minerals, tourism potential, renewable energy prospects, and ongoing business-enabling reforms align with these national priorities.
“Bauchi can lead the way in climate-smart agriculture, commercial outgrown schemes, and agro-processing hubs linked to national and export markets,” he noted.
“Its rich cultural heritage and natural endowments can boost tourism, hospitality, and the creative industries, while renewable energy and gas potential can power industrial clusters through partnerships and off-grid solutions.”
Shettima commended Governor Bala Mohammed for opening Bauchi to investment and reaffirmed Tinubu’s commitment to treating every state as a priority in the drive for shared national prosperity.
“An affliction to any state slows the pace of development in others. That is the burden of federalism we must not allow to hold us back. We must either grow together or falter apart,” he said.
Declaring the summit open, Shettima urged participants to move beyond rhetoric and commit to concrete Memoranda of Understanding (MoUs), set timelines, and establish joint implementation teams to ensure measurable progress.
Former President Olusegun Obasanjo described the summit as a sign of hope for Nigeria but emphasised the need for strong partnerships across all levels to drive investment. He highlighted the “five Ps”, Politics, People, Protection, Partnership, and Progress—as the foundation for a thriving investment climate.
“Governance must be right because it’s about the people, and there must be security, or else investors will not come,” he warned.
Bauchi State Governor Bala Mohammed thanked the Vice President for his support and assured investors of the safety of their lives and businesses.
He pledged to implement the summit recommendations and strengthen anti-corruption measures to enable businesses to thrive.
Chairman of the North East Governors’ Forum and Borno State Governor Babagana Zulum urged investors to take advantage of Bauchi’s resources, noting the state’s agricultural potential and ease of doing business.
Former Head of Civil Service of the Federation Mahmud Yayale Ahmed, in his keynote, stressed leadership, education, governance, and PPP as critical drivers of development amid global challenges.
The Sultan of Sokoto, His Eminence, Abubakar Sa’ad III, challenged Northern leaders to ensure that investment summits translate into real outcomes, warning against a repeat of past failures.
“Have we really moved our states and the North forward?” he asked. “Nobody will take us out of these challenges except ourselves. The North has everything needed for development.”
He commended Shettima’s support for the President and called for unity, patriotism, and prayers for national leaders, stressing that security remains indispensable for development.
The summit attracted dignitaries, including representatives of the Governors of Oyo, Gombe, Bayelsa, and Jigawa States; former Bauchi military administrators Chris Abutu Garuba and Raji Adisa; and Oriental Energy Resources Chairman Mohammad Indimi, among others.
