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September 16, 2025 by Bolaji Ogundele, Abuja
Vice-President Kashim Shettima has reiterated that Nigeria remains open for investments and collaborations across all sectors.
He also said while receiving a delegation from VISA, the world’s second-largest card payment organisation, in Abuja yesterday, that the Bola Ahmed Tinubu administration is committed to transforming the nation’s economy through bold reforms.
At another event in Abuja, Secretary to the Government of the Federation(SGF) George Akume listed transformational infrastructure, economic diversification, and job creation as the core pillars of President Tinubu’s Renewed Hope Agenda.
The vice-president stated that the reforms, though difficult, are yielding measurable results.
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“President Bola Ahmed Tinubu is determined to change the face of our nation. Today, there is a great room for expansion in the Nigerian economy,’’ Shettima said in a statement by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Mr. Stanley Nkwocha.
He pointed out that the fact that Nigeria has ‘’eight out of the 10 unicorns in Africa’’ shows that the economic space is expanding.
A unicorn is a start-up company valued at over $1 billion.
Shettima also listed steady growth in foreign reserves, improvement in tax administration and fiscal discipline as other gains of the reforms.
“The economy has picked up pace, we have crossed the rubicon, and we are on a path of sustainable growth.
‘’The tax reforms are gaining traction, we are restoring discipline to the system, and our foreign reserve is growing steadily,” the Vice-President said.
He commended VISA’s partnerships with local fintech companies and urged the company to leverage Nigeria’s vast unbanked population in its African expansion drive.
According to him, digital payment systems hold the future of commerce on the continent, with the added advantage of promoting transparency and curbing corruption.
VISA’s Regional President for Central and Eastern Europe, Middle East and Africa (CEMEA), Tareq Muhmood, who led the delegation, lauded the reforms in the oil and gas sector, foreign exchange regime and tax policy.
Acknowledging that the reforms have stimulated renewed confidence in the Nigerian economy, he revealed that VISA plans to expand its footprint in the country and support programmes that directly impact lives across various sectors.
Others on the team were VISA’s Senior Vice President and Head of Western and Central Africa, Aminata Kane; Vice President and Head of West Africa, Andrew Uaboi; and Senior Director and Head of Government Affairs, Chidozie Arinze.
* $60bn integrated gas, power, rail project underway
Also yesterday, SGF Akume told Chinese investors in Abuja that their proposal to build a $60 billion integrated gas, power and rail project in Nigeria aligns with President Tinubu’s vision.
De-Sadel (Nig.) Limited, in partnership with China Liancai Petroleum Investment Holdings Limited, is behind the plan.
Already, a Financial Support Letter has been secured by them from the Asia Development and Investment Bank (ADIB).
“This project, with its integrated components of high-speed rail, power generation and transmission, LNG infrastructure, and digital backbone, resonates strongly with these priorities and offers immense opportunities for inclusive growth and national integration,” Akume said.
He described the financing arrangement as “a reflection of the seriousness of purpose and ambition” behind the initiative.
The SGF assured the investors that his office would continue to coordinate engagements across relevant Ministries, Departments and Agencies (MDAs) to ensure all financial, technical, legal and institutional requirements were addressed.
He added that with the support of credible international investors and the ongoing reforms in Nigeria, the Tinubu administration would not shirk in accelerating infrastructure delivery and economic growth across the country.
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