Vice President Kashim Shettima has called on investors to capitalize on the current favorable conditions and view Nigeria as a prime destination for investment, emphasizing that the nation has successfully navigated through a challenging economic phase.
He made these remarks during the inauguration of the Bauchi Investment Summit 2025 on Wednesday.
Shettima highlighted that the current administration, which took office in 2023, committed to revitalizing an economy that was teetering on the brink of financial collapse, with the debt service-to-revenue ratio alarmingly close to 100 percent.
This significant progress, he explained, stems from President Bola Ahmed Tinubu‘s administration’s decisive actions to eliminate barriers that had long hindered Nigeria’s economic advancement.
Addressing attendees at the two-day event, Shettima revealed that under the Tinubu government, the debt service-to-revenue ratio has been halved to below 50 percent, while the GDP growth rate reached 4.23 percent as of the previous month.
“Our non-oil revenue surged by 411 percent year-on-year during the same period. The tax-to-GDP ratio has improved to 13.5 percent, a substantial increase from just 7 percent a few years back. Our debt-to-GDP ratio stands at 38.8 percent, well within the Fiscal Responsibility Act’s ceiling of 60 percent, and comfortably below the 70 percent thresholds set by ECOWAS and the World Bank,” he stated.
“As of September 2025, our foreign reserves have climbed to $43 billion. Nigeria has moved past its phase of economic volatility, and I assure all investors here that there has never been a more opportune moment to invest in Nigeria,” the Vice President affirmed.
Shettima elaborated on why President Tinubu’s initial priority was to dismantle the obstacles that had acted like termites eroding the nation’s progress. “Sustainable growth is impossible without stability,” he asserted.
“Former leaders here can attest to the challenges they faced while implementing reforms aimed at steering the country toward stability and renewed growth,” he added.
The Vice President stressed that a business-friendly environment must offer predictability in investment outcomes. He argued that the most effective remedy for a struggling economy is a stable stimulus, which motivated the administration’s bold reforms.
“This urgency led us to unify the exchange rate system and phase out the fuel subsidy, which had become a breeding ground for corruption and rent-seeking, where a privileged few exploited national resources for personal gain,” Shettima explained.
“We can debate endlessly about missed opportunities, but the reality is that no one builds a house amid a tsunami,” he remarked.
He outlined the administration’s development priorities, including job creation, food security, value-chain enhancement, and leveraging regional comparative advantages, emphasizing that these goals hinge on achieving economic stability.
These priorities align closely with Bauchi State’s investment potential, which includes extensive fertile land, rich mineral deposits, tourism attractions, renewable energy opportunities, and ongoing infrastructure improvements coupled with business-friendly reforms.
“The Federal Government is steadfast in its commitment to nationwide security, recognizing that economic growth cannot flourish where fear prevails and insecurity stifles enterprise,” Shettima added.
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Shettima highlighted Bauchi State’s capacity to lead in climate-smart agriculture, commercial outgrower programs, and agro-processing centers connected to both domestic and international markets. The state’s abundant arable land and livestock resources, alongside its cultural heritage, also present opportunities to expand tourism, hospitality, and creative sectors.
“Bauchi’s mineral wealth can support responsible mining and downstream industrialization through transparent bidding processes, geological surveys, and community benefit initiatives,” he noted.
“Its natural and cultural assets can further stimulate tourism and creative industries, while renewable energy and gas resources can energize industrial clusters via public-private partnerships and off-grid solutions,” he added.
Commending Governor Bala Mohammed‘s vision in opening Bauchi to investment, Shettima reiterated President Tinubu’s assurance that the Federal Government will prioritize every state beyond the increased fiscal allocations currently enjoyed nationwide.
“Challenges in any state impede progress elsewhere, and this is the shared responsibility of federalism. We must either advance collectively or falter individually,” he emphasized.
He urged summit participants to move beyond discussions and commit to formal agreements, establish clear timelines, and form joint implementation teams to ensure measurable progress. He stressed that all initiatives must incorporate social and environmental sustainability.
Former President Olusegun Obasanjo described the summit as a beacon of hope for Nigeria, underscoring the importance of partnerships in strengthening business ventures.
Obasanjo introduced the concept of the five Ps-Politics, People, Protection, Partnership, and Progress-as foundational elements for successful investment. He also expressed concern over the state of Nigeria’s cement industry, calling for decisive measures to bolster it.
“Effective governance is essential because it centers on the people, and security is non-negotiable; without it, investors will stay away. Strong partnerships across local, community, state, and national levels, including civil society and both public and private sectors, are vital,” he stressed.
Governor Bala Mohammed expressed gratitude to the Vice President for his consistent support of Bauchi State and assured that the summit’s recommendations would be implemented.
He praised the federal government’s establishment of the North-East Development Commission (NEDC), which is driving progress across the region’s six states.
The Governor also guaranteed investors’ safety in Bauchi, pledging to combat corruption and foster partnerships to create a conducive business environment.
Babagana Zulum, Chairman of the North East Governors’ Forum and Governor of Borno State, lauded Governor Mohammed for organizing the summit, emphasizing Bauchi’s agricultural potential as a foundation for development.
Zulum encouraged investors to leverage the region’s abundant resources, noting, “Northerners are known for their hospitality. The area is rich in minerals and hydrocarbons. Investors will find ample opportunities to contribute to our future growth. Business operations are increasingly seamless in Bauchi and across the North; we welcome you.”
In his keynote address, Mahmud Yayale Ahmed, former Head of the Civil Service of the Federation, remarked that leadership involves creating opportunities for others to thrive, and that current global challenges demand urgent and focused responses.
The Sultan of Sokoto, His Eminence Abubakar Sa’ad III, expressed disappointment that many national summits conclude without meaningful follow-through on resolutions.
“What tangible outcomes have we achieved? Have we truly advanced our states and the North? I challenge all of us to reflect deeply. Only we can overcome these economic hurdles. The North possesses all the resources necessary for development,” he stated.
The Sultan commended Vice President Shettima’s unwavering support for President Tinubu’s leadership and pledged ongoing backing from religious and traditional authorities.
Highlighting the critical role of security, the Sultan said, “Our support is steadfast, but without security, no progress is possible.” He appealed to Nigerians to embrace patriotism and support their leaders through prayers rather than criticism.