Shettima declares Nigeria has exited economic instability, woos investors at Bauchi summit
By Kunle Sanni –
Vice President Kashim Shettima on Wednesday declared that Nigeria has exited its phase of economic instability, urging investors to take advantage of what he described as the “most auspicious” time to invest in the country.
Speaking at the opening of the Bauchi Investment Summit 2025, Shettima said the nation’s economic turnaround was the result of reforms introduced by President Bola Tinubu’s administration to remove long-standing obstacles to growth.
He highlighted notable improvements in key economic indicators, stating that Nigeria’s debt service-to-revenue ratio had dropped from about 100 percent in 2023 to less than 50 percent, while GDP growth stood at 4.23 percent as of September 2025.
“Our non-oil revenues grew by 411 percent year-on-year, and our tax-to-GDP ratio now stands at 13.5 percent, up from barely 7 percent a few years ago,” he said. “Nigeria has exited its phase of economic instability, and there is no better time to choose Nigeria as an investment destination.”
Shettima added that the country’s external reserves had risen to $43 billion, while the debt-to-GDP ratio remained at 38.8 percent—well below international benchmarks.
He explained that the early reforms by the Tinubu administration, including the removal of fuel subsidies and the harmonisation of exchange rates, were necessary to stabilise the economy.
“You cannot guarantee enduring growth without stability,” he said. “Nobody builds a house in a tsunami.”
The Vice President identified the administration’s priorities as job creation, food security, value-chain development, and unlocking subnational comparative advantages. He noted that Bauchi State’s vast natural and cultural resources position it as a key player in achieving these goals.
