Vice President Kashim Shettima has declared that Nigeria is now firmly positioned for massive investments, stating that President Bola Tinubu's administration has implemented far-reaching reforms that are unlocking fresh economic opportunities across key sectors.
No Better Time to Invest in Nigeria
During a high-profile meeting at the Presidential Villa in Abuja on Tuesday, Shettima told a delegation from Advanced Energy Partners (AEP) that "there is no better time to invest in Nigeria." The Vice President emphasized that investors have come at "a time blessed with committed leadership and clear direction."
The meeting featured significant international representation, with the AEP delegation led by its chairman, Senator Abu Ibrahim, and including key figures from global energy corporations.
Crossing the Rubicon with Bold Reforms
Shettima highlighted that the Tinubu administration has "crossed the Rubicon" with policies that are stabilizing the economy and attracting foreign direct investments. He assured the investors that they have placed their trust in the right nation, emphasizing that "Nigeria is ready for business" and is now on the path of sustainable development.
The Vice President's comments come amid growing international interest in Nigeria's economic potential, particularly in the energy sector where the government has implemented significant reforms.
International Consortium Eyes Nigerian Opportunities
Senator Abu Ibrahim revealed that the consortium came to Nigeria to explore major investment prospects in the upstream oil industry and other economic sectors. The delegation included representatives from China North Industries Corporation (NORINCO), which reported an impressive annual turnover of $30 billion last year.
Mr. Qiang Wenyu, Vice President of NORINCO, disclosed that the visit builds on an earlier engagement with President Tinubu in Beijing in September 2024. He reaffirmed the company's readiness to deepen partnerships in Nigeria, noting that NORINCO had been working toward this commitment for the past year.
The company's core interests span energy, oil and gas, defense, and mining sectors, positioning them as significant players in Nigeria's investment landscape.
Renewed Investor Confidence Under Tinubu
Ms. Mahra Rashed Al Suwaidi, CEO of Horizon Energy based in Abu Dhabi, commended President Tinubu's leadership, stating it has renewed investor confidence and strengthened key institutions, including the NNPC Ltd.
The UAE Ambassador to Nigeria, Salem Saeed Musabbeh Al Shamsi, described Nigeria as "the right place" for foreign investment and applauded the administration for improving bilateral ties. He revealed that non-oil trade between both countries reached $4.3 billion in 2024, demonstrating the growing economic cooperation.
Other officials present at the meeting included AEP CEO Mr. Shakiru Olayinka, Mr. Abiye Membere of AEP, and representatives from China Zhenhua Oil Corporation and Beijing Auxin Chemical Technology Corporation, highlighting the diverse international interest in Nigeria's investment opportunities.
