Vice President Kashim Shettima, on Friday in St. Petersburg, Russia, said the Tinubu administration will give the fullest possible support to foreign and domestic investors in power, transportation, infrastructure, maritime, agro-processing, and mining, among others.
“The administration of President Tinubu recognises the private sector as the engine of growth and a veritable partner in our economic agenda and will therefore give the fullest possible support to foreign and domestic investors,” Shettima told political and business leaders at the second plenary session of the Russia-Africa Summit holding in St. Petersburg.
The State House Director of Information, Office of the Vice President, Olusola Abiola, disclosed this in a statement he signed on Friday titled ‘Shettima addresses leaders at Russia-Africa Summit plenary, says Nigeria at new dawn, repositioned for greatness.’
Given the measures adopted by the Tinubu administration to diversify the economy and address emerging challenges, he said Nigeria is now at a new dawn to chart and reposition its destiny for greatness.
In doing so, he said the government is taking decisive steps to “fight crime, punish offenders, directly tackle the insurgency, and do everything necessary to secure lives and investments in the country.”
According to Shettima, the administration has identified key growth drivers and sectors that are important to the diversification of the Nigerian economy.
They include power, transportation, infrastructure, maritime, agro-processing, mining, manufacturing, petrochemicals, food processing, textiles, etc.
“The Nigerian government considers these sectors as key priority areas that will drive the country’s economic agenda,” the VP added.
Highlighting the Tinubu administration’s economic agenda, Sen. Shettima said, “We have resolved and are firmly determined to consolidate on industrialising Nigeria and diversifying its economy into sectors that the country has a comparative advantage.
Highlighting investment opportunities in Nigeria, he noted, “In view of the current geopolitical situation, we must begin to think of real-time investment in addition to trading in commodities.”
Therefore, he called on Russian companies to take advantage of the vast potential of Nigeria, being the largest market in Africa, to invest in strategic areas and to derive maximum benefits.
Stating the country’s stance in the “unfortunate” Russia-Ukraine, he said, “Nigeria remains non-aligned in any conflict situation, but we are deeply concerned about the potential impact of the crisis on global peace and security and we call on parties to resolve the conflict through Diplomatic means as that is the best option for resolving conflicts and fostering international peace and security.”
He then commended President Putin and the Russian government for convening the Summit, noting that “it is very significant to Nigeria in many respects.”
Earlier in his opening remarks, the President of Russia, Vladimir Putin, paid glowing tributes to the continent’s founding fathers, noting their contributions to developing the current African State.
Putin, who spoke on a wide range of areas of cooperation between both countries, including security and defence, commerce, agriculture, and climate agenda, reiterated his country’s commitment to the full economic transformation of the African continent.
He said, “Russia is sincerely ready and willing to stand by African countries in their efforts to address challenges confronting them.
“We cherish our relationship with each African nation and will make efforts to sustain it.”
17 African Heads of State, five Vice Presidents, 10 Heads of government, and some business leaders from Russia, Africa, and beyond are attending the second edition of the Summit held at St. Petersburg’s ExpoForum.
