Nigeria open to investments across sectors, says VP Shettima

By Kunle Sanni –

Vice President Kashim Shettima has reiterated Nigeria’s readiness to welcome investments and collaborations across various sectors, as the Tinubu administration pushes ahead with economic reforms aimed at stabilising and transforming the nation’s economy.

Shettima gave the assurance on Monday during a courtesy visit to the Presidential Villa by a delegation from global digital payments company VISA, led by its Regional President for Central and Eastern Europe, the Middle East and Africa (CEMEA), Mr Tareq Muhmood.

According to the Vice President, the reforms introduced since President Bola Ahmed Tinubu assumed office in 2023—though painful—are beginning to yield positive results. He pointed to improvements in tax administration, discipline in the financial system, and steady growth in foreign reserves as evidence of progress.

“President Bola Ahmed Tinubu is determined to change the face of our nation. Today, there is great room for expansion in the Nigerian economy. Eight out of the ten unicorns in Africa are from Nigeria,” Shettima said. “The economy has picked up pace, we have crossed the Rubicon, and we are on a path of sustainable growth.”

He urged VISA to take advantage of Nigeria’s large unbanked population in its expansion plans across Africa, noting that digital payment systems are central to boosting transparency and reducing corruption on the continent.

Mr Muhmood, in his remarks, commended the Tinubu administration for its bold economic reforms, which he said have spurred renewed investor confidence. He specifically cited progress in the oil and gas sector, foreign exchange policy, and tax reforms as reasons for VISA’s growing interest in Nigeria.

He disclosed that the company intends to expand its investment in the Nigerian market and participate in programmes with direct impact on communities and livelihoods.

The meeting was attended by VISA executives, including Senior Vice President and Head of Western and Central Africa, Aminata Kane; Vice President and Head of West Africa, Andrew Uaboi; and Senior Director and Head of Government Affairs, Chidozie Arinze.