Tinubu’s Reforms Opening New Investment Doors, Says Shettima

The Vice President, Senator Kashim Shettima, has reiterated Nigeria’s readiness to engage with the rest of the world, stating that the ongoing reforms undertaken by the administration of President Bola Ahmed Tinubu across various sectors are creating new investment opportunities.

“There is no better time to invest in Nigeria. You have come at the right time, where we have been blessed with committed leadership,” he declared.

According to a statement by his media aide, Stanley Nkwocha, the Vice President made this statement on Tuesday when he received a delegation from the Advanced Energy Partners (AEP), led by the chairman of the consortium, Senator Abu Ibrahim, on a courtesy visit to the Presidential Villa.

Senator Shettima, who outlined the abundant resources and potential across Nigeria, said the Tinubu administration, through specific policies and interventions, is creating an enabling environment for the economy to grow and attract foreign direct investment.

“Be assured that you have invested your trust in the right nation. Nigeria is ready for business. We have crossed the Rubicon and are now on the path of sustainable development,” he told the delegation.

Earlier, the leader of the delegation, Senator Abu Ibrahim, stated that the team was on the ground in Nigeria to explore significant investment opportunities in the upstream oil industry and various sectors of the economy.

For his part, the Vice President of China North Industries Corporation (NORINCO), Mr QIANG Wenyu, said the visit was in furtherance of an earlier meeting with President Tinubu in September 2024 in Beijing, just as he reiterated the company’s commitment to collaborating with Nigerian partners in key sectors of the nation’s economy.

He said the company was prepared to fulfil its earlier pledge to deepen cooperation and expand its operations in Nigeria, noting that “for the past one year, we have been acting on that.”

He listed NORINCO’s core areas of operations, which include energy, oil & gas, defence industries, and mining, among others. Noting that the company’s annual turnover grew to $30 billion last year, he maintained that NORINCO has a strong reputation in its core fields of operation.

For her part, Ms Mahra Rashed Al Suwaidi, CEO of Horizon Energy Abu Dhabi, applauded the leadership of President Tinubu, attributing the company’s renewed interest in investing in Nigeria to the country’s current leadership.

She added that the firm’s confidence in the current administration is reflected in the management of key institutions, including the Nigerian National Petroleum Company Limited (NNPC), among others.

In the same vein, the UAE Ambassador to Nigeria, Salem Saeed Musabbeh Al Shamsi, urged the consortium to waste no time in investing in Nigeria, describing the country as the “right place” for foreign investment.

Noting that the Tinubu administration is the “right government,” he said it has strengthened Nigeria’s economic and bilateral ties with the UAE, resulting in non-oil trade between the two countries amounting to $4.3 billion in 2024.

Also present at the meeting were the CEO of AEP, Mr Shakiru Olayinka; Mr Abiye Membere from AEP; Mr HU Keyu from China Zhenhua Oil Corporation; Mr XU Yongfeng from Beijing Auxin Chemical Technology Corporation, and Mr LIANG Hongda from NORINCO African Dept, among others.