Vice President Kashim Shettima has unveiled Nigeria’s $200 billion energy transition opportunity to international investors, calling for stronger partnerships to maximize the country’s vast economic potential.
Speaking at a Roundtable hosted by the Business Council for International Understanding (BCIU), themed “Risk, Reform, Return”, on the margins of the 80th Session of the United Nations General Assembly (UNGA80), Shettima emphasized that Nigeria’s economic reforms under President Bola Ahmed Tinubu’s Renewed Hope Agenda are already attracting renewed investor confidence.
He noted that with 210 trillion cubic feet of proven gas reserves, high solar potential, Africa’s largest consumer market of 236 million people (projected to reach 320 million by 2040), and one of the youngest populations in the world, Nigeria is strategically positioned as the natural hub for the African Continental Free Trade Area’s $3.4 trillion market.
Showcasing reforms since mid-2023, Shettima cited the unification of exchange rates, removal of fuel subsidies, modernization of tax and customs systems, overhaul of trade and investment policies, and fiscal discipline as proof of Nigeria’s bold reset.
“These reforms are already delivering results,” he said. “Our GDP growth is accelerating, external reserves are strengthening, and inflation is moderating. Investors are responding, and Nigeria is emerging as Africa’s production floor and innovation hub.”
He further highlighted new incentives across Special Economic Zones, including duty-free imports, rent concessions, rebates, and integrated logistics, as well as investor protections through updated treaties and streamlined FX access.
On infrastructure, the VP disclosed that government financing vehicles like InfraCorp and the Nigeria Sovereign Investment Authority (NSIA) are blending private and sovereign capital to deliver metro lines, dry ports, and industrial corridors.
He also pointed to opportunities in solid minerals, valued at over $700 billion, agriculture through Special Agro-Industrial Zones, and Nigeria’s expanding digital economy, which already accounts for 29% of Africa’s internet usage and has raised over $2 billion in venture funding.
“Our creative industry, already worth $15 billion, is projected to hit $100 billion by 2030,” Shettima added, underscoring Nollywood, Afrobeats, gaming, and fashion as cultural exports reshaping the global entertainment landscape.
Earlier, Minister of Industry, Trade and Investment, Dr. Olajumoke Oduwole, reinforced the government’s reform credentials, noting that global ratings agencies Fitch and Moody’s have upgraded Nigeria’s outlook, citing improved buffers and policy clarity. She disclosed that over $50 billion in investment interest has been tracked since the reforms began.
Earlier in the day, VP Shettima, representing President Tinubu, attended the High-Level meeting commemorating the 80th anniversary of the United Nations General Assembly at the UN Headquarters. President Tinubu delivered a three-minute address celebrating the UN’s legacy of peace, human dignity, and development.
The Vice President was accompanied by Kaduna State Governor, Senator Uba Sani; Minister of Solid Minerals, Dele Alake; Minister of Arts, Culture and Creative Economy, Hannatu Musa Musawa; Women Affairs Minister, Iman Suleiman-Ibrahim; and senior officials of Nigeria’s UN Mission.
📩 Reported by: Stone Reporters News
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