Tinubu’s Reforms Opening New Investment Doors, Says VP Shettima

The Vice President, Senator Kashim Shettima, has restated Nigeria’s readiness to do business with the rest of the world, saying ongoing reforms undertaken by the administration of President Bola Tinubu across different sectors were opening new opportunities for investments.

“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 stated this on Tuesday when he received a delegation from the Advanced Energy Partners (AEP) led by chairman of the consortium, Senator Abu Ibrahim, on a courtesy visit to the Presidential Villa, Abuja.

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

“Be rest 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, leader of the delegation, Senator Abu Ibrahim, said the team was on ground in Nigeria to, among other things, explore major opportunities for investment in the upstream oil industry and 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 fulfill 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 to include energy, oil & gas, defence industries and mining, among others, noting that the company’s annual turnover grew last year to $30 billion, maintaining a strong reputation in its core fields of operations.

For her part, the CEO of Horizon Energy Abu Dhabi, Ms. Mahra Rashed Al Suwaidi, applauded the leadership of President Tinubu, attributing the company’s renewed interest to invest 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, leading to non-oil trade between both 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.