Vice-President Kashim Shettima has declared that Nigeria has exited its phase of economic instability, assuring investors that “the most auspicious and convenient time to choose Nigeria as an investment destination is now.”
Shettima stated this on Wednesday while declaring open the 2025 Bauchi State Investment Summit, in a speech delivered through his spokesperson, Stanley Nkwocha.
He attributed the economic turnaround to reforms introduced by President Bola Tinubu’s administration, including the removal of fuel subsidy and the harmonisation of the exchange rate regime.
“When President Tinubu assumed office in 2023, the economy was tottering, with a debt service-to-revenue ratio of about 100 per cent. Today, it has been reduced to less than 50 per cent,” Shettima said.
He highlighted other indicators: GDP growth at 4.23 per cent, a 411 per cent rise in non-oil revenue year-on-year, tax-to-GDP ratio up to 13.5 per cent, and external reserves standing at $43 billion as of September 2025. Nigeria’s debt-to-GDP ratio, he noted, remains at 38.8 per cent, well below both national and international thresholds.
The Vice-President said the administration’s priorities are job creation, food security, value-chain development, and unlocking subnational comparative advantages, stressing that stability and security are crucial for sustaining growth.
On Bauchi, Shettima noted that the state’s arable land, solid minerals, cultural heritage, renewable energy potential, and tourism opportunities could drive national and international investment. He praised Governor Bala Mohammed for opening the state to investors, while reaffirming Tinubu’s pledge to treat every state as a development priority.
Former President Olusegun Obasanjo, who also spoke at the summit, emphasised the need for partnerships, outlining what he called the “five Ps” of investment – Politics, People, Protection, Partnership and Progress. He urged stronger governance, improved security, and reforms to support industries such as cement.
Governor Mohammed assured investors of safety, reforms, and anti-corruption measures to enable businesses thrive, while lauding the Federal Government for establishing the North-East Development Commission (NEDC).
Similarly, Governor Babagana Zulum of Borno, Chairman of the North East Governors’ Forum, commended Bauchi’s initiative and encouraged investors to explore the region’s resources in agriculture, solid minerals, and hydrocarbons.
