Vice President Kashim Shettima has announced that President Bola Tinubu’s administration has secured over $20 billion in investments for Nigeria.
This significant achievement was highlighted during his speech at the 2024 Vanguard Economic Discourse, held at the Civic Centre in Victoria Island, Lagos, on Thursday.
At the event, which gathered leaders from both the public and private sectors to discuss economic development, Shettima, represented by his Special Adviser on Economic Affairs, Tope Fasua, detailed several key potential investments secured under Tinubu’s administration.
“Mr. President has secured more than $20 billion in potential investments for the country, including $14 billion from India, $250 million from the Netherlands, and commitments of $500 million for lithium development in Nasarawa State, as well as another $500 million from Germany for renewable energy,” Shettima stated.
He also noted the progress of the Siemens power sector projects, which are expected to significantly enhance Nigeria’s energy sufficiency in the near future. These investments, he emphasized, reflect the administration’s ongoing efforts to attract foreign investment and bolster economic growth despite global economic uncertainties.
Vice President Shettima stressed the government’s commitment to leveraging the African Continental Free Trade Agreement (AfCFTA) to benefit Nigerian exporters. He highlighted the administration’s dedication to investing in the nation’s most valuable resource—its people—through various development programs.
“The government will continue to push for the country’s exporters to take advantage of the African Continental Free Trade Agreement. The administration will also continue to invest in the nation’s most important resource through several programs,” he said.
Shettima further outlined the government’s strategy to add value to Nigeria’s natural resources, aligning with President Tinubu’s vision to expand capacity in critical economic sectors such as manufacturing, technology, and industry.
“The government is thinking towards adding value to natural resources, as Mr. President has promised, by developing more capacity in all areas of the economy such as manufacturing, technology, and industry,” he explained.
Reaffirming the administration’s commitment to fostering sustainable development and ensuring economic resilience, Shettima concluded, “Our promises stand. We will do everything within our power to deliver on these promises. We are steadfast in our goal of achieving a $1 trillion economy and in protecting our most vulnerable citizens. Once again, we appeal for your understanding, support, perseverance, and sacrifice for our great country, Nigeria.”
This year’s Vanguard Economic Discourse, themed “Reforms in the Era of Global Economic Uncertainties: Whither Nigeria?” provided a crucial platform for discussing the nation’s economic future amid global challenges.