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VP Shettima To Investors: Nigeria Has Exited Its Phase Of Economic Instability
VP Shettima To Investors: Nigeria Has Exited Its Phase Of Economic Instability
- Tasks stakeholders on concrete MoUs, set timelines at Bauchi Investment Summit 2025
- Says state’s rich natural assets, cultural heritage will boost nation’s tourism, hospitality, creative industries
By: Our Reporter
The Vice President, Senator Kashim Shettima, has assured investors that the most auspicious and convenient time to choose Nigeria as an investment destination is now, saying the nation has exited its phase of economic instability.
He attributed the milestone to the decision made by the administration of President Bola Ahmed Tinubu to get rid of the hurdles that had hitherto clogged the wheels of the country’s economic progress.
Speaking on Wednesday in Bauchi State while declaring open the Bauchi Investment Summit 2025, Senator Shettima noted that the administration assumed office in 2023 with a promise to turn around the fortune of the nation’s economy that was already tottering on the edge of financial crisis, with debt service-to-revenue ratio shooting up to about 100 percent.
He told investors and stakeholders at the two-day summit that under the Tinubu administration, debt service-to-revenue ratio has been reduced to less than 50 per cent, while the GDP growth stood at 4.23 percent as of last month.

“Our non-oil revenues grew by 411 per cent year-on-year in the same month. Our tax-to-GDP ratio now stands at 13.5 per cent, up from barely 7 per cent a few years ago. Our debt-to-GDP ratio remains at 38.8 per cent, far below the limits set by the Fiscal Responsibility Act at 60 per cent, and those of ECOWAS and the World Bank at 70 per cent.
“Our external reserves have grown to 43 billion dollars as of September 2025. Nigeria has exited its phase of economic instability, and I assure investors present here that there is no better time to choose Nigeria,” the Vice President stated.
Explaining why the first decision made by President Tinubu “was to remove those obstacles that had become termites in the timber of” the nation’s progress, VP Shettima said, “You cannot guarantee enduring growth without stability.
“Our predecessors are here to testify to this truth. Each of them endured a fair share of obstacles and pushbacks in their efforts to introduce reforms that set the nation on the path of rediscovery and stability.”
Senator Shettima observed that no system can claim to be suitable for business if it cannot predict the outcome of its investment, maintaining that there can’t be a more potent treatment for a bad economy “than a stable economic stimulus,” which is why the Tinubu administration embarked on bold reforms.
He continued, “It was this dread that inspired our bold reforms to harmonise the exchange rate regime and to dismantle the fuel subsidy structure, an avenue that had become a theatre for round-tripping and rent-seeking, where the privileged few converted the nation’s collective patrimony into their private poverty alleviation scheme.”
“We may spend eternity debating the theories of our inactions, but the truth remains that nobody builds a house in a tsunami.”
The Vice President listed priorities in the administration’s development plan to include job creation, food security, value-chain development, and the unlocking of subnational comparative advantages, even as he pointed out that the plan “is anchored on promises that can only be realised when” stability is achieved.
These priorities, according to him, are inherently rooted in the investment opportunities Bauchi State offers, including “vast arable land and agricultural potential, abundant solid minerals, tourism and game reserves, renewable energy prospects, and improving infrastructure and business-enabling reforms.
“The Federal Government remains resolute in its commitment to ensuring security across the nation because no economy can thrive where fear replaces freedom and where insecurity undermines enterprise,” he added.
Senator Shettima said Bauchi State can spearhead “climate-smart agriculture, commercial outgrower schemes, and agro-processing hubs linked to national and export markets,” with its vast arable land and livestock, among other rich natural resources and cultural heritage that are capable of boosting tourism, hospitality, and the creative industries.
“The solid mineral reserves of this rich state can also enable responsible mining and downstream industrialisation through transparent tendering, geological mapping, and community benefit frameworks.
“Bauchi’s natural assets and cultural heritage can boost tourism, hospitality, and the creative industries, while its renewable energy and gas potential can power industrial clusters through public-private partnerships and off-grid solutions,” he maintained.
Applauding the vision of Governor Bala Mohammed for opening Bauchi State to investment, VP Shettima reaffirmed President Tinubu’s promise that under his watch, the Federal Government will treat “each state as a priority beyond the fiscal glories that accrue from the increased allocations now enjoyed across the federation.
“This is so because an affliction to any state slows down the pace of development in other parts of the nation, and this is the burden of federalism that we must never allow to slow us down. We must either grow together or falter apart,” he added
Declaring the summit open, the VP charged participants and stakeholders “to move beyond talk and commit to concrete memoranda of understanding, set timelines, and appoint joint implementation teams,” to ensure tangible milestones in project execution, insisting that programmes and projects “must align with social and environmental sustainability considerations.”
On his part, former President Olusegun Obasanjo said while the summit is an indication that there is hope for Nigeria, there is a need for partnership as a way of strengthening businesses.
He outlined what he termed the five Ps – Politics, People, Protection, Partnership and Progress, describing them as the bedrock of good investment, just as he expressed worry over the cement situation in Nigeria, calling for more action to strengthen the cement industry.
“Governance must be right because it’s about the people and there must be protection (security), or else investors will not come. There must be strong partnership at the local, community, state, and national levels, as well as the civil society, with the public and private sectors. We need partnership,” he stressed.
For his part, Governor Mohammed thanked the Vice President for always identifying with the state, assuring participants and the people of Bauchi State that the recommendations reached at the summit would be implemented.
The Governor hailed the federal government for establishing the North-East Development Commission (NEDC), which he said is driving development across the six states of the region.

He also assured investors of the safety of their lives and businesses in Bauchi, saying, “We will also utilize partnership and fight corruption in order to enable businesses thrive in our state,” he said.
Also speaking, Chairman of the North East Governors’ Forum, and Borno State Governor, Prof. Babagana Zulum, commended Governor Mohammed for convening the summit, saying Bauchi State’s potential in agriculture is the bedrock for its development.
Urging investors to tap from the available resources as they invest in the state, Zulum said, “Northerners are hospitable. Mineral resources and hydrocarbons are also found here in large quantity. I believe investors will have the opportunity to play around for our future development. There is ease of doing business in Bauchi and the entire North; come and do business here.”
Delivering the keynote address, former Head of Civil Service of the Federation, Mahmud Yayale Ahmed, noted that while leadership is about creating room for others to grow, the current global challenges require serious attention and action.
The erstwhile Secretary to Government of the Federation (SGF) identified education, good governance and human capital development as bases for development at all times, positing that Public, Private Partnership (PPP) and collaboration between the federal and State governments would help boost development.
In his remarks, the Sultan of Sokoto, His Eminence, Abubakar Sa’ad III, regretted that while he had attended a good number of summits in the country, most of them ended with little commitment towards implementation of resolutions.
“What have we achieved? Have we really achieved the goals of such summits? I want to challenge the Governors of Northern states on this. Have we really moved our states and the north forward? I want to challenge all of us to really look inwards. Nobody can take us out of these economic challenges except we, ourselves. The North has everything needed for development,” he said.
The royal father applauded Vice President Shettima’s unflinching support for President Tinubu in leading Nigeria, just as he pledged the support of religious and traditional leaders at all times.
Stressing the need for adequate security, the Sultan said, “Our support is unwavering. But whatever you do, if there’s no security, you can’t really achieve anything,” appealing to all Nigerians to love their country and pray for their leaders instead of cursing them.
Other dignitaries in attendance include representatives of the Governors of Oyo, Gombe, Bayelsa and Jigawa States; former military administrators of Bauchi State, Chris Abutu Garuba and Raji Adisa, and Chairman/Founder of Oriental Energy Resources, Alhaji Mohammad Indimi, among others.
VP Shettima To Investors: Nigeria Has Exited Its Phase Of Economic Instability
National News
President Tinubu, Spreading Opportunities Across Overburdened Communities, Says VP Shettima
President Tinubu, Spreading Opportunities Across Overburdened Communities, Says VP Shettima
**Inaugurates 33.5km dual carriageway in Rivers, says it’s consistent with president’s Renewed Hope Agenda
By: Our Reporter
The Vice President, Senator Kashim Shettima, has said the administration of President Bola Ahmed Tinubu is deliberately spreading infrastructure and economic opportunities beyond major cities to reduce congestion, expand jobs and promote balanced national development across Nigeria.
This, he noted, is driven by the administration’s conviction that such state-driven projects are consistent with the Renewed Hope Agenda’s push to expand security, welfare and economic opportunity beyond the centre.

Senator Shettima stated this on Thursday while inaugurating the Elele-Umudioga-Egbeda-Ubimini-Akpabu-Ikiri-Omoku Dual Carriageway in Rivers State on behalf of President Tinubu.
The 33.5-kilometre road runs through Ikwerre, Emohua and Ogba/Egbema/Ndoni local government areas of the state, connects communities along an important agricultural, commercial and oil and gas corridor leading towards Omoku, widely regarded as the state’s “Gas City.”
“A nation becomes congested when opportunity is congested. People move because roads, markets, jobs and services have not moved far enough towards them,” the Vice President stated.
He said roads are among the most democratic instruments of development, noting that they connect farmers to markets, workers to jobs, students to schools and patients to healthcare.
“Roads are among the most democratic instruments of development. They serve the farmer carrying produce to market, the trader seeking customers, the worker travelling to employment, the student going to school and the patient seeking care. When a road works, society moves,” VP Shettima maintained.
According to him, the completed road will help farmers move produce faster, reduce losses, lower logistics costs for businesses and open communities along the corridor to greater economic activity.
“Public infrastructure must be judged by the lives it improves. A road earns its value when a farmer earns more, a child reaches school earlier, and isolation no longer punishes enterprise,” he said.

Senator Shettima commended Rivers State Governor Siminalayi Fubara for completing the project, describing it as consistent with President Tinubu’s Renewed Hope Agenda and the Federal Government’s support for state-led investments that improve security, welfare and economic opportunities.
He also stressed the importance of continuity in governance, saying, “One administration lays a foundation, another strengthens it, and the people remain the final beneficiaries.”
The Vice President urged communities along the corridor to protect the infrastructure against vandalism and other activities capable of shortening its lifespan.
“Our next responsibility is to protect this asset from vandalism, reckless use and every practice that shortens the life of public infrastructure,” he said.
Earlier, Governor Siminalayi Fubara of Rivers State said the 33.5-kilometre road, with a river crossing bridge, will improve security and ease the age-long suffering of the people of the three local government areas of Ikwere, Emohua and Ogba/Egbema /Ndoni.
The governor explained that in the past, the road was a corridor for kidnapping, oil bunkering, and other forms of criminality, assuring that with the commissioning of the road, insecurity will be a thing of the past along the road corridor, and that security agencies would increase surveillance in the area.

“In this project, we have lights from the beginning to the end. So, even in the night, insecurity is totally eliminated. This won’t have been possible without the support of the Federal Government and the good people of Rivers State.
“I want to thank you for this special support that you have been giving to us for us to come here to say, to the glory of God, that promise made is a promise kept,” the governor said.
He thanked President Tinubu and the Vice President for their unwavering support to the government and people of Rivers State.
“I am a bit emotional today because for a very long time, I felt maybe we were not part of this country, but today I feel very happy that our country is also standing by us, ably represented here by no other person but distinguished Senator Kashim Shettima, Vice President of the Federal Republic of Nigeria. You can see why I feel emotion,” Fubara added..
On his part, the Commissioner for Works, Rivers State, Prof. Temple Nwofor, said the commissioning of the road represents another significant step in the determination of the Rivers State government to provide durable infrastructure that would improve connectivity, enhance mobility and promote economic activities within the benefiting communities.
He noted that the 33.5-kilometre road linking three local government areas in Rivers State will enhance development and open up opportunities that would address societal challenges.
Also, the Chairman of Emohua Local Government Area of the state, Dr Chidi Lloyd, said the project will open communities, ease transportation and boost economic activities in the affected local governments areas.
Lloyd said the project was more than asphalt, adding that it was a road to reconciliation and prosperity that connects people’s hearts.
“This day is significant not because we are commissioning the Elele-Omoku road but because of what it represents. We sincerely appreciate the President of the Federal Republic of Nigeria. We also thank the Minister of the Federal Capital Territory for his fatherly intervention and for standing with Rivers people on this journey.”
President Tinubu, Spreading Opportunities Across Overburdened Communities, Says VP Shettima
National News
AWALCO Nominates NUJ FCT Chair Grace Ike for November Award
AWALCO Nominates NUJ FCT Chair Grace Ike for November Award
By: Michael Mike
The Association of West African Legislative Correspondents (AWALCO) has commended the achievements of the Chairman of the Nigerian Union of Journalists (NUJ), FCT Council, Comrade Grace Ike, and nominated her for an award scheduled for November.
The association announced the nomination when its executives, led by President Innocent Odoh, paid a courtesy visit to the NUJ FCT Council Chairman in Abuja.
Odoh said Ike’s achievements since assuming leadership of the council had been impressive, describing her emergence as the first woman to chair the NUJ FCT Council as a significant milestone.
He said her leadership had demonstrated courage, commitment and the ability to take charge, adding that AWALCO was encouraged by the changes recorded under her leadership.
“We are indeed very impressed and inspired. It takes somebody with this kind of courage and commitment, and someone who will take charge of things, and we are really seeing the change,” Odoh said.
He explained that Ike’s nomination followed discussions within the association on journalists and leaders who had made significant contributions to the profession and public service.
According to him, her achievements, including her previous leadership of the House of Representatives Press Corps, placed her among those shortlisted for recognition.
Odoh disclosed that AWALCO had initially planned the award ceremony last year to coincide with the 25th anniversary of the ECOWAS Parliament, but the event was postponed after the Parliament scheduled its own award ceremony.
He said the proposed award was also part of AWALCO’s broader effort to promote awareness and strengthen collaboration with the NUJ FCT Council.
The association, he said, intends to work with the council to organise seminars, workshops and conferences focused on democracy, good governance, development and legislative accountability.
He described Parliament as the nucleus of a democratic system and said legislative correspondents had an important role to play in interrogating democratic principles and examining how legislation could translate into development for citizens.
With West Africa’s population exceeding 400 million, Odoh said stronger collaboration between AWALCO and the NUJ could help spread important democratic and governance messages across ECOWAS member states.
Responding, Ike welcomed the AWALCO delegation and expressed appreciation for the recognition.
She assured the association that the NUJ FCT Council was ready to partner with AWALCO in areas that would advance journalism, democracy and development.
“I really don’t take this award for granted. I’m honoured,” she said.
Ike urged journalists to uphold the principles of accuracy, fairness, balance and ethical reporting, stressing that the media remained a critical pillar of society.
She encouraged journalists to move beyond their traditional areas of coverage and report issues capable of positively affecting society and the wider West African region.
The NUJ FCT chairman also emphasised the importance of journalists’ welfare, describing it as a key priority of her leadership.
She urged AWALCO members to ensure accountability and transparency in their activities and said the NUJ would provide publicity support for initiatives and statements presented by the association as part of their proposed partnership.
Ike further challenged journalists to use their platforms to interrogate emerging issues affecting democracy in West Africa, including electoral reforms and proposals such as direct primary elections.
She said issues that could strengthen democratic governance should be properly examined and brought to public attention.
The NUJ FCT chairman also urged leaders in the journalism profession to build lasting legacies through diligent and responsible service.
“Leadership is not easy. If you are a leader, you must do everything possible to leave a legacy behind,” she said.
She urged younger journalists to remain committed to changing the narrative about leadership and public service, stressing that journalists should produce stories capable of touching lives and positively influencing society.
Also speaking on the nomination of the FCT NUJ Chairman, the Financial Secretary of AWALCO, Favour Olise, commended Ike’s leadership and urged her to continue supporting younger journalists.
Olise said Ike’s achievements had made her worthy of recognition, particularly her efforts to attract reputable organisations to partner with the NUJ.
“Younger ones not in age, younger ones in the Journalism profession, carry them along as you are already doing and keep doing the good works,” she said.
She described Ike’s efforts as encouraging and said her leadership was contributing positively to the image and development of the journalism profession.
AWALCO said it looked forward to strengthening its partnership with the NUJ FCT Council, particularly in promoting legislative journalism, democratic accountability, good governance and development across Nigeria and the wider West African region.
AWALCO Nominates NUJ FCT Chair Grace Ike for November Award
National News
EU Releases €2.3m to Fight Cholera as Nigeria Gets €1.5m
EU Releases €2.3m to Fight Cholera as Nigeria Gets €1.5m
…61,888 cases, 1,230 deaths recorded across Africa in five months
By: Michael Mike
The European Union has released €2.3 million in emergency humanitarian funding to Nigeria and three other African countries to contain the spread of cholera, as the disease continues to pose a major public health threat across the continent.
Nigeria is to receive the largest share of the intervention, €1.5 million, to strengthen its response to the outbreak, including the deployment of additional intervention teams, provision of cholera kits and intensified water, sanitation and hygiene measures.
The European Commission announced the funding on Monday, saying the money would also support epidemiological surveillance, particularly in hard-to-reach areas, improve case management and strengthen risk communication and community sensitisation.
The intervention comes against the backdrop of a significant cholera burden across Africa. The World Health Organisation reported 61,888 cholera cases and 1,230 deaths across 16 African countries between January 1 and May 31, 2026. Nigeria alone recorded 6,860 cases and 80 deaths during the period covered by the WHO report.
The WHO data showed that Nigeria recorded 5,798 new cases and 54 deaths in May alone, making it one of the countries reporting the highest number of cases in the African Region that month.
The latest EU intervention is therefore expected to provide additional resources for Nigeria’s efforts to prevent further transmission and reduce deaths from the disease, particularly in communities where access to safe water, sanitation and healthcare remains limited.
Under the Nigerian component of the funding, the EU said intervention teams would be increased, while essential cholera supplies would be provided to affected communities.
The funding will also support the treatment of public water points and household water, intensify disease surveillance in inaccessible areas and strengthen measures for detecting and managing cases.
Risk communication and community sensitisation will equally be expanded to help communities understand how cholera is transmitted and the steps required to prevent infection.
Cameroon will receive €100,000 for outbreak containment and case management.
The allocation will support additional humanitarian personnel, essential medicines, additional cholera treatment units and oral rehydration points in some of the country’s worst-affected villages.
The Central African Republic will receive €500,000 to scale up case management and vaccination, alongside water, sanitation and hygiene interventions.
The funds will also strengthen risk communication, community engagement, surveillance and case detection, while supporting dignified and safe burials.
Chad will receive €200,000 to help break the chain of transmission through improved access to water, sanitation and hygiene, as well as community support for surveillance and case management.
The EU Commissioner for Preparedness and Crisis Management, Hadja Lahbib, said the emergency funding was necessary because cholera continues to threaten lives in communities without adequate access to safe water and healthcare.
“Cholera is preventable and treatable. Yet it still threatens lives when people lack something as basic as safe water and healthcare,” Lahbib said.
She added that the intervention was coming at a time when humanitarian needs were increasing while available resources were shrinking.
“Europe is not looking away. This emergency funding will help our partners act quickly, contain the outbreaks and protect the communities most at risk,” she said.
Cholera is an acute diarrhoeal infection caused by the bacterium Vibrio cholerae. It is most commonly transmitted through contaminated food or water and can cause severe dehydration and death within hours in serious cases if treatment is not provided.
The WHO has warned that cholera outbreaks are increasingly difficult to control because of factors including conflict, population displacement, climate-related events, poor infrastructure and limited access to healthcare, particularly in rural and flood-affected communities.
The scale of the 2026 outbreak has also highlighted the continuing vulnerability of African countries to diseases linked to inadequate water and sanitation infrastructure.
WHO data show that the Democratic Republic of Congo recorded the highest number of cases in Africa between January and May, with 28,567 cases and 815 deaths, followed by South Sudan with 7,712 cases and Mozambique with 7,500 cases. Nigeria’s 6,860 cases placed it among the countries with the highest reported burdens during the period.
The WHO has cautioned, however, that reported figures may be affected by under-reporting, reporting delays and differences in surveillance systems and case definitions across countries.
Nigeria has also been receiving broader international support to strengthen its capacity to detect and respond to disease outbreaks. In May, the EU and WHO launched a €4.2 million programme aimed at strengthening selected Nigerian public health institutions, including their ability to detect outbreaks earlier and share information more rapidly.
With the latest €1.5 million cholera allocation, the immediate priority is expected to be containing transmission, expanding access to treatment and ensuring that communities at greatest risk have access to safe water, sanitation and reliable public health information.
The EU said the broader emergency response was intended to help its humanitarian partners move quickly, contain the outbreaks and protect communities most at risk.
EU Releases €2.3m to Fight Cholera as Nigeria Gets €1.5m
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