Reported by: Agande Richard Aondofa | Edited by: Henry Owen
The Vice President of Nigeria, Senator Kashim Shettima, has assured investors that the most auspicious time to invest in the country is now, highlighting that Nigeria has emerged from a period of economic instability. Speaking on Wednesday, October 8, 2025, at the Bauchi Investment Summit 2025, Senator Shettima attributed the economic milestone to the bold decisions of President Bola Ahmed Tinubu’s administration, which have removed long-standing obstacles that previously hindered the nation’s economic growth.
He recounted that when the administration assumed office in 2023, Nigeria’s economy was teetering on the edge of financial crisis, with the debt service-to-revenue ratio approaching 100 percent. Under the current government, this ratio has been reduced to below 50 percent, while GDP growth reached 4.23 percent as of last month. The Vice President further noted that non-oil revenues increased by 411 percent year-on-year, tax-to-GDP ratio rose to 13.5 percent from about seven percent, and debt-to-GDP ratio stands at 38.8 percent, well within statutory and international limits. External reserves also grew to 43 billion dollars, reflecting the nation’s renewed economic stability.
Senator Shettima emphasised that economic stability is the foundation for sustainable growth, explaining that the administration embarked on reforms such as harmonising the exchange rate regime and dismantling the fuel subsidy system to eliminate avenues for corruption and rent-seeking. He insisted that no system can be considered suitable for business without predictability, noting that stable economic stimuli are essential for investor confidence.
He also outlined the administration’s development priorities, including job creation, food security, value-chain development, and unlocking subnational comparative advantages, all of which are directly aligned with the abundant investment opportunities in Bauchi State. He pointed to the state’s vast arable land suitable for climate-smart agriculture and agro-processing initiatives, as well as its rich solid mineral resources that can drive responsible mining and industrialisation. The Vice President highlighted Bauchi’s potential in tourism, hospitality, and creative industries, noting that renewable energy and gas resources could power industrial clusters through public-private partnerships and off-grid solutions.
Applauding Governor Bala Mohammed for opening Bauchi State to investors, Senator Shettima reaffirmed the Federal Government’s commitment to equitable support for all states, stressing that challenges in one part of the country affect development elsewhere. He urged summit participants to move beyond discussions by signing memoranda of understanding, setting timelines, and appointing joint implementation teams, while ensuring social and environmental sustainability in all projects.
Other dignitaries attending the summit reinforced the call for strategic investment and collaboration. Former President Olusegun Obasanjo emphasised the importance of politics, people, protection, partnership, and progress as essential components for investment success, while raising concerns about Nigeria’s cement industry. Governor Bala Mohammed assured investors of their safety and highlighted the role of the North-East Development Commission in driving regional development. Borno State Governor, Prof. Babagana Zulum, encouraged investors to capitalise on the North’s agricultural and mineral resources, while former Secretary to the Government of the Federation, Mahmud Yayale Ahmed, stressed education, good governance, and human capital as keys to sustainable development. The Sultan of Sokoto, Abubakar Sa’ad III, urged that security remain a priority, noting that investment cannot thrive without safety, and pledged continued support from traditional and religious leaders.
The summit also brought together representatives of various state governors, former military administrators of Bauchi, and prominent business leaders, signalling a broad commitment to translating summit deliberations into actionable investment projects.
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