VICE President Kashim Shettima is urging global investors to take advantage of Nigeria’s growing investment climate.
The Vice President made the call during a business meeting with Swedish business in Stockholm, Sweden, as part of his two-day visit to the Nordic country.
According to him, the Federal Government has undertaken bold reforms that are restructuring the nation’s economy for sustainable growth, adding that the administration’s renewed hope agenda is focused on a competitive business environment that attracts foreign and domestic investments.
Speaking at Epicenter, Stockholm, Sweden, where he is currently on a two-day working visit aimed at boosting trade and bilateral relations between both nations, VP Shettima noted that Nigeria and Sweden have a time-honored history of cooperation, particularly in trade, technology, and sustainable development.
He cited opportunities that abound in Nigeria, including the digital economy, agriculture, renewable energy, and MSMEs, among many others, pointing out that the nation is now “an ambitious nation, bound by the limitless potential of the Fourth Industrial Revolution.”
Employing every negotiation skill at his disposal to woo investors at the business forum with the theme, “Trade and Investments with a Focus on the Digital Economy, Agriculture, and Renewable Energy,” the VP assured that the Tinubu administration has done much within the last year to brighten Nigeria’s investment climate, creating vast investment opportunities.
He stated: “Under the leadership of His Excellency, President Bola Ahmed Tinubu, the Nigerian government has introduced bold financial reforms, including the unification of exchange rates and the removal of fuel subsidies. Though challenging, these reforms are necessary steps in restructuring the economy for sustainable growth.
“The government’s ‘Renewed Hope Agenda’ emphasizes creating a competitive business environment that attracts both foreign and domestic investments. In parallel, our financial sector reforms, such as the revised Cashless Policy and Open Banking Framework, have revolutionized banking services, promoting financial inclusion and providing innovative financial products.”
Identifying digital economy, agriculture, and renewable energy as global priorities and the direction in which Nigeria is headed, the Nigerian Vice President said these sectors are crucial to addressing pressing global challenges such as food security, climate change, and economic growth.
Imploring Swedish investors to avail themselves of the business opportunities that abound in Nigeria, he said, “Distinguished guests, ladies and gentlemen, there is tremendous potential for collaboration between Nigeria and Sweden across multiple sectors.
“Whether in finance, renewable energy, digital innovation, agriculture, or education, our partnership holds the promise of immense benefits for both nations. I urge Swedish investors to seize the opportunities in Nigeria and work with us to build a prosperous and sustainable future.”
VP Shettima recalled that trade between Nigeria and Sweden grew by 30% in 2022, informing a greater need for deeper collaboration between both nations.
“This momentum calls us to come together and create a favorable business environment for the expansion of goods and services, from digitalization to access to specialists,” he said, pointing out that “Nigeria’s financial sector is one of the most sophisticated in Africa, showing remarkable resilience in recent years.”
He also emphasized Nigeria’s population as Africa’s largest, saying the nation’s “strategic advantage is not solely based on being the largest ICT market or the most populous nation in Africa” but also on the creativity and knowledge-sharing of the youth population, which he described as the real engine of the nation’s economy.