Bold Reforms Making Nigeria Open to Investments—Shettima

By Adedapo Adesanya

The Vice-President of Nigeria, Mr Kashim Shettima, has said the country’s doors are open to investments, following reforms from the current administration.

He made this known on Monday when he received a delegation from payment giant, VISA, led by the Regional President for Central and Eastern Europe, Middle East and Africa (CEMEA), Mr Tareq Muhmood, at the Presidential Villa, Abuja.

He said the results of the bold reforms undertaken by the administration of President Bola Tinubu since assumption in 2023 were testaments to the renewed determination of Nigeria’s leadership.

The Vice President said though painful, the ongoing reforms by the administration were necessary and have begun to yield positive results in the economy.

“President Bola Tinubu is determined to change the face of our nation. Today, there is a great room for expansion in the Nigerian economy. Eight out of the ten unicorns in Africa are from Nigeria.

“The economy has picked 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 VP noted.

Mr Shettima commended VISA’s growing interest in the Nigerian economy, particularly its partnership with indigenous Fintech companies, urging the company to leverage Nigeria’s huge unbanked population in its expansion drive across Africa.

He said digital payment systems were the future of electronic commercial transactions across Africa, highlighting its potential for entrenching transparency and checkmating corruption.

On his part, Mr Muhmood praised President Tinubu’s bold economic reforms, linking it to the recent growth experienced across diverse sectors of the economy, attributing the company’s renewed interest in the Nigerian economy to achievements recorded as a result of the courageous reforms.

The regional president particularly commended the reforms in the oil and gas sector, foreign exchange regime and tax administration, among others.

Mr Muhmood announced the company’s intentions to increase its stake in the Nigerian economy and participate actively in programmes that impact directly on lives and livelihoods across different sectors.