Vice President Kashim Shettima on Wednesday stated that President Bola Tinubu's sweeping economic reforms are rebuilding Nigeria's economic foundations to empower states as viable growth and investment centres. He explained that the administration's restructuring agenda aims to reduce dependence on the federal government by strengthening subnational economies through fiscal reforms, increased state allocations, energy sector liberalisation, tax reforms, and improved investment coordination.
Shettima at Nasarawa Investment Summit
Speaking at the Nasarawa Investment Summit 2026 in Lafia, Shettima said the reforms are positioning states to become engines of enterprise, industrialisation, and policy innovation. "At the national level, we are rebuilding the pillars every state depends on: energy reliability, fiscal balance, tax reform and a single digital gateway for investment," Shettima said. He added that ongoing power sector reforms are opening new paths for state participation, with federal projects linked to the Ajaokuta-Kaduna-Kano gas pipeline and the Abuja industrial corridor complementing Nasarawa's Gas Master Plan, positioning the region as a critical energy hub.
States at the Centre of Reform Agenda
The Vice President emphasised that the Tinubu administration deliberately placed states at the centre of its economic reform agenda, noting that countries achieving rapid development are driven by strong federating units. "All over the world, nations that move fastest are powered by strong federating units, and Nigeria is embracing that truth as our subnationals become centres of enterprise, policy innovation and industrial energy," he stated. Shettima added that the reforms have created greater fiscal and policy space for states to plan, build infrastructure, attract investments, and respond effectively to citizens' needs.
Fiscal Responsibility and Reform-Driven Governance
Shettima explained that the emerging relationship between the federal and state governments is anchored on fiscal responsibility, competitiveness, and reform-driven governance. "What Nasarawa State pursues here aligns with the national direction set by our courageous and reform-minded leader, President Bola Ahmed Tinubu. Across the federation, we are laying the foundations for an economy that rewards production, protects enterprise and gives our states the room to become engines of growth," he added.
The Lafia Declaration
On the "Lafia Declaration" adopted at the summit, Shettima described it as more than a ceremonial document, representing a public commitment to continuity in governance and investment policy. "The Lafia Declaration is an economic covenant, a public assurance that Nasarawa's progress will outlive elections and endure beyond personalities," he said.
Investor Confidence Rebounds
Highlighting gains from the administration's economic reforms, Shettima said investor confidence in Nigeria is gradually rebounding. Capital inflows rose from $12.32 billion in 2024 to $23.22 billion in 2025, while the equity market posted a 51.19% return in 2025, with market capitalisation hitting N99.38 trillion. "Investors are beginning to read Nigeria again as a country willing to correct itself, a country prepared to take difficult decisions in defence of its future. Capital follows credibility, stability and direction," he said.
Commendation for Nasarawa State
Shettima commended the Nasarawa State Government for aligning its development policies with the Renewed Hope Agenda through initiatives such as the Nasarawa State Investment Development Agency (NASIDA), the One-Stop Investment Centre, the State Electricity Regulatory Commission, and the Nasarawa Infrastructure Fund.
Governor Sule's Remarks
Earlier, Governor Abdullahi Sule said the investment summit was convened to reinforce investor confidence by emphasising policy continuity, institutional stability, and predictable governance. "The summit represents a critical moment for aligning political leadership, institutional actors, investors and citizens around a shared vision of a prosperous and resilient Nasarawa State," Sule said.
Minister Bagudu on Reforms
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, noted that reforms must remain dynamic due to the evolving global economy. He praised President Tinubu and Vice President Shettima for managing economic disruptions associated with the reform programme, saying benefits are manifesting across states. "I think it is the benefits of that disruption that are enabling states like Nasarawa to achieve what they have achieved," Bagudu stated.
Minister Oduwole's Assurance
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the Tinubu administration had undertaken bold reforms over the past two years to stabilise the economy and improve the investment climate. She reaffirmed the federal government's commitment to partnering with states to attract investments, strengthen local supply chains, and connect domestic production to global markets.
NASIDA's Investment Achievements
Managing Director of NASIDA, Barrister Ibrahim Abdullahi, disclosed that the agency had attracted over $2 billion in investments into Nasarawa State, adding that the summit was organised to sustain and deepen investment inflows.
