Tinubu secured an investment of 20 billion dollars to revolutionize agriculture and the economy – Shettima

Tinubu secured an investment of 20 billion dollars to revolutionize agriculture and the economy – Shettima

Vice President Kashim Shettima on Thursday said President Bola Tinubu had successfully secured over $20 billion in investments for Nigeria.

Shettima said these investments include $14 billion from India and $250 million from the Netherlands, with commitments of $500 million each for lithium development in Nasarawa State and Germany.

He said it in the Vanguard Economic Speech in Lakes with the theme “Reforms in an era of global economic uncertainties.”

Represented by his Special Adviser on Economic Affairs, Tope Fasua, he explained that the efforts were part of the government’s strategies to address economic challenges amid global uncertainties.

He highlighted the importance of technological advances and strategic reforms to navigate these changes effectively, explaining that initiatives such as Siemens’ energy sector projects aimed to boost energy sufficiency.

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He highlighted the administration’s commitment to implementing policies for the benefit of Nigerians, particularly in the wake of COVID-19.

“Siemens projects in the energy sector are currently accelerating and will be able to show a healthy effect on our energy efficiency in time.

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“President Bola Ahmed Tinubu has always maintained that we do not know everything. We are a humble but determined government, open to ideas and improvements from well-meaning members of the country.

“We are not afraid to go back and review whether a policy would impose undue hardship on Nigerians, as has been seen over time.

“This administration is not out to make the lives of Nigerians more difficult, but rather to make the Nigerian economy sustainable and the lives of our people more pleasant,” he said.

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According to Mr. Shettima, the coming years will be filled with positive achievements, improved living standards, increased productivity, food security, abundant harvests and notable achievements, with the guidance and grace of Almighty God.

He assured that the government would continue to pursue ambitious policies, leveraging the global value chain to ensure that Nigerian companies are involved in the manufacturing of complex products.

He vowed to continue pushing for exporters to take advantage of the African Continental Free Trade Agreement by investing more in human capital development to diversify the nation’s economy.

He explained the measures the government was taking to boost manufacturing, agriculture, technology, industry and creative sectors, assuring that the Tinubu administration would deliver on its promises through multi-sectoral development.

“We will not shy away from our projection of reaching $1 trillion GDP by 2031, which strongly suggests that our economy must begin growing at double-digit rates. We will capture every growth from every sector of the economy,” he said.

Shettima praised the resilience of Nigerians and called for greater understanding as the nation went through the period of economic uncertainty, which he said is a global phenomenon.

“It must be said that uncertainty, volatility, complexity and ambiguity can be an advantage for some and a disadvantage for others. Therefore, positioning is key in today’s world.

“Therefore, the clarion call is continuous for Nigeria and Nigerians to continue to understand global trends and position themselves appropriately to be on the right side of history.

“As we like to say, ‘Naija doesn’t take last.’ Our cunning, resilience, creativity and ingenuity remain our most important assets that we must continue to leverage for the greatness of our land.

“There are many factors that can precipitate uncertainty. One of them is how quickly technology evolves every second,” she said.

He explained how technological advancements in an era of artificial intelligence, machine learning and the Internet of Things are increasing unemployment and hardship and the measures taken so far to secure the future of the youth and all Nigerians.

He said creating considerable volatility in a developing country like Nigeria required the inclusion of factors such as insecurity, global economic slowdown, external instability, natural disasters and global geopolitics, among others.

“If there is a single word that I can search for to describe the administration of President Bola Ahmed Tinubu, it has to be ‘decisiveness’. One of the greatest attributes of leadership is vision. Another is the decision to do what may not be popular but is necessary.

“And as we all align behind a great leader who embodies a great vision for our nation, we are committed to the success of key reforms, primarily around the removal of oil subsidies and finding a viable value for the Naira .

“May 29, 2023 was a defining moment and we believe that our government’s promises will be fulfilled under the leadership of our president,” he said.

He enumerated the efforts of the Tinubu administration to improve the situation he faces and called for the continued support of Nigerians.

Laying out the statistics, Mr. Shettima described the situation of the Tinubu administration in the financial, real estate and energy sectors as well as infrastructure development.


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