Morganable business/Trade&Investment
The Vice President said the growing trend of states organising investment summits reflected a positive shift in governance, noting that sub-national governments were increasingly recognising the importance of attracting private capital to complement public spending
kaNo —
Vice President Kashim Shettima and Anambra State Governor, Prof. Chukwuma Soludo, on Monday called on state governments to intensify efforts to attract private investment, saying increased competition among states for investors, coupled with Nigeria’s improving macroeconomic stability, would create jobs and stimulate economic growth.
The two leaders spoke at the opening of the 2026 Delta State Economic and Investment Summit held at the Dome Event Centre in Asaba, where government officials, investors, business leaders and development partners gathered to explore investment opportunities in Delta State and discuss strategies for accelerating economic development.
Shettima, who was the guest of honour at the summit, described the event as an important platform capable of translating economic ideas into practical investments that would benefit both Delta State and the country at large.
He commended Delta State Governor, Sheriff Oborevwori, for convening the summit and praised his leadership style, describing him as a courageous and humble leader committed to making decisions that would reposition the state for sustainable development.
The Vice President said the growing trend of states organising investment summits reflected a positive shift in governance, noting that sub-national governments were increasingly recognising the importance of attracting private capital to complement public spending.
Healthy Competition Would Boost Opportunities-Shettima
According to him, healthy competition among states to secure investments would ultimately benefit Nigerians through increased employment opportunities, industrial expansion and improved living standards.
“States are now competing for investments, and that is a healthy competition because the ultimate beneficiaries are Nigerians who will enjoy more jobs, more opportunities and improved quality of life,” Shettima said.
Reforms Aim At Promoting Economic Sustainability
Shettima also highlighted the economic reforms introduced by the Federal Government under President Bola Tinubu, saying the measures were gradually restoring investor confidence and laying the foundation for long-term economic stability.
He stated that Nigeria had moved from a period characterised by capital flight to one in which investors were beginning to regain confidence in the country’s economic prospects.
The Vice President disclosed that Nigeria’s foreign reserves had risen significantly from about $3 billion in 2023 to more than $52 billion, describing the development as evidence of improving macroeconomic stability.
“The President deserves commendation for taking difficult but necessary decisions that are already yielding positive results for the country,” he said.
Shettima added that international credit rating agencies had also acknowledged Nigeria’s improving economic outlook through stronger sovereign ratings, improved fiscal management and healthier external reserves.
According to him, the country was gradually rebuilding its credibility within the international investment community, making it increasingly attractive to both domestic and foreign investors.
“Today, Nigeria is gradually regaining credibility in the international investment community. The best time to invest is before opportunities become expensive,” he said.
Shettima Pays Tribute To WTO DG
The Vice President paid glowing tribute to the Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, describing her as one of Nigeria’s most accomplished global ambassadors.
“We are proud of you. We cherish your remarkable achievements and appreciate the way you continue to represent Nigeria with distinction,” Shettima said.
He also commended renowned Kenyan governance expert and public intellectual, Prof. Patrick Lumumba, describing him as one of Africa’s foremost scholars and an outstanding advocate for good governance across the continent.
Speaking on Delta State’s investment potential, Shettima said the state possessed abundant natural and human resources capable of making it one of Nigeria’s leading investment destinations.
He, however, cautioned that the mere existence of natural resources would not automatically translate into prosperity unless they were effectively harnessed, financed and transformed into productive enterprises.
“The state’s natural resources alone cannot create prosperity unless they are properly organised, financed, and transformed into productive enterprises that create jobs and improve people’s lives,” he said.
He listed the state’s long coastline, seaports, vast natural gas deposits, electricity generation assets, refining infrastructure, fertile agricultural land, fisheries resources and solid minerals such as limestone, silica sand and kaolin as strategic assets capable of supporting economic diversification.
Shettima also identified Delta’s educated, skilled and entrepreneurial population as one of its greatest competitive advantages in attracting investment.
Shettima Urges Stakeholders To Take Advantage Of Opportunities In Delta
He urged investors, financiers, development partners, entrepreneurs and captains of industry attending the summit to take advantage of the numerous business opportunities available across the state.
The Vice President assured both local and international investors that the Federal Government remained committed to maintaining a stable and predictable business environment supported by investor-friendly policies and stronger institutions.
According to him, the Delta Economic and Investment Summit was designed not merely as a platform for speeches but as an avenue to facilitate partnerships, investment agreements, business networking and projects capable of accelerating economic transformation.
He expressed confidence that Delta could emerge as one of Nigeria’s foremost investment destinations if it successfully harnessed its abundant resources and implemented policies that encouraged private sector participation.
Shettima concluded that Nigeria was gradually transitioning from a country known mainly for its economic potential to one steadily building prosperity, with states playing a central role in achieving that transformation.
Also speaking at the summit, Governor Soludo said Nigeria’s improving macroeconomic stability had created fresh opportunities for investment and economic expansion.
He called on state governments to work more closely together in attracting investors, creating employment and promoting inclusive economic growth.
“I am here in solidarity with my neighbour, Delta State, and with my friend, Governor Sheriff Oborevwori. This summit is very important, and I am delighted to be here,” Soludo said.
The Anambra governor observed that discussions at the summit underscored the importance of sub-national governments in driving Nigeria’s economic development agenda.
He noted that recent reforms introduced by the Federal Government had improved macroeconomic stability, strengthened foreign exchange reserves and created a more predictable environment for investors.
“From a macroeconomic standpoint, Nigeria has become more stable, and that is something we should celebrate because we know where we are coming from,” he said.
Soludo recalled that shortly after assuming office as governor, his administration withdrew Anambra State from a World Bank loan programme because of concerns over exchange rate risks at the time.
According to him, improvements in Nigeria’s macroeconomic environment have significantly reduced many of the uncertainties that previously discouraged investment and complicated development financing.
He maintained that while macroeconomic reforms were beginning to yield results, state governments must complement the Federal Government’s efforts by improving infrastructure, strengthening governance, ensuring policy consistency and creating business-friendly environments capable of attracting long-term private capital.
The summit brought together policymakers, business executives, financial institutions and development partners to explore investment opportunities across key sectors of Delta State’s economy, with participants expressing optimism that stronger collaboration between governments and the private sector would accelerate industrialisation, create jobs and drive sustainable economic growth across Nigeria.
