The Vice President, Senator Kashim Shettima, has said that it is currently a great time to invest in Nigeria, as the administration of President Bola Tinubu has addressed most of the grey areas that hitherto served as disincentives to investors.
According to him, the foundation laid by the Renewed Hope administration through critical reforms in key sectors of the economy was creating the right environment for investments in Nigeria.
The Vice President, in a statement by his spokesman, Stanley Nkwocha, stated this on Tuesday when he received on a courtesy visit to the Presidential Villa, a delegation from the Islamic Development Bank (IsDB) led by the Head of its Regional Hub, Mr Hammad Hundal.
“It is an exciting opportunity to invest in Nigeria. The administration of President Bola Ahmed Tinubu has created the enabling environment and is still doing so by addressing most of the grey areas that hitherto served as a disincentive. So, this is a great time to invest in Nigeria,” he said.
Senator Shettima pointed out that with well-thought-out interventions in human capital development, nutrition, agriculture, health, education and promotion of digital trade, the administration has demonstrated commitment in addressing challenges in the critical sectors.
“This administration is poised to address the challenges that we have in key areas of human capital development, financial inclusion, infrastructure and nutrition. In fact, we have no option but to address most of these issues, and we will continue to act in the right direction,” he maintained.
The Vice President applauded Nigeria’s partnership with the Islamic Development Bank, noting that both entities are based primarily on the country’s national interest.
He urged IsDB to continue on the path already laid through its support for key government programmes such as the Special Agro-Processing Zones (SAPZ) programme, the i-DICE project and other initiatives, including the development of a Halal economy in the country.
He continued: “Let us cross-pollinate ideas and come up with a design for your Country Engagement Framework (CEF). I want you to record in your Country Engagement Framework, the development of a Halal economy, promotion of digital trade, financial inclusion and other areas. I urge closer collaboration to enable us to address some of these challenges.”
Senator Shettima further noted that the bank’s programmes in Nigeria aligned with the Renewed Hope Agenda of President Tinubu across different sectors.
He called for improved support from the bank in areas of agriculture, human capital development, gender inclusion, investment in education and health infrastructure, and nutrition.
Earlier in his remarks, the IsDB’s head of regional hub in Abuja, Mr Hundal, said the bank was committed to scaling up its intervention through a holistic review of its Country Engagement Framework (CEF) in Nigeria to prioritise key aspects of the agenda of President Tinubu.
He identified key areas of its intervention in the country, including economic infrastructure, support for the private sector, energy security, and the i-DICE programme.
The highpoint of the meeting was the presentation of the bank’s Country Engagement Framework (CEF) to the Vice President by its Country Economist, Dr Obioma Asuzu.
The CEF highlights key broad strategic objectives of boosting recovery, tackling poverty and building resilience, and driving green economic growth.
Asuzu said the IsDB CEF for Nigeria was driven by the country’s national priorities, partnerships with critical stakeholders, and resource mobilisation.
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