Shettima Vows Federal Backing for Nigerian Investors: A Billion-Dollar Economy in Sight

By Achimi Muktar

In a bold commitment to foster business growth and economic transformation, Vice President Kashim Shettima assured Nigerian investors of unwavering federal government support under President Bola Tinubu's administration. Speaking during a visit to Mamuda Group in Kano on Friday, Shettima declared that no effort would be spared to help businesses thrive and achieve their goals.

“The President speaks your language – the language of commerce and business,” Shettima said. “Rest assured, in the spirit of the Renewed Hope Agenda, we will partner with the manufacturing sector to reposition Nigeria’s economy.”

The Vice President praised Mamuda Group—a multi-industry conglomerate and one of Northern Nigeria’s largest employers—for its resilience and contribution to the Nigerian economy. With 13,000 employees and plans to expand to 23,000, the group symbolizes a shining example of public-private collaboration.

During his visit, Shettima addressed infrastructure challenges and pledged federal intervention to resolve access road deficits. He also lauded Mamuda Group’s self-sustained electricity generation of 31 megawatts, highlighting it as a model of innovation.

BUILDING TRUST AMONG INVESTORS
Shettima emphasized that President Tinubu’s reforms are reigniting investor confidence, fostering a business-friendly environment, and sustaining economic progress. He invited Mamuda Group’s leadership to continue dialogues with key agencies like the Nigerian Investment Promotion Commission (NIPC) and the Nigerian Export Promotion Council (NEPC) to unlock new opportunities.

A CALL TO ACTION FOR BANKERS
Earlier on the same day, Shettima addressed the 14th Annual Bankers’ Committee Retreat in Abuja, where he challenged the financial sector to be catalysts for Nigeria’s economic resurgence.

“Your sector’s profitability must translate into GDP growth,” Shettima urged, emphasizing the pivotal role of banks in achieving Tinubu’s vision of a $1 trillion economy. He also highlighted issues of cash accessibility, urging banks to tackle challenges associated with exploitative charges and inefficiencies in financial inclusion initiatives.

Representing Shettima, Dr. Tope Fasua, Special Adviser on Economic Affairs, echoed the administration's commitment to painful but necessary reforms, including the unification of exchange rates, subsidy removal, and tax reforms. “These changes are laying the groundwork for long-term stability,” Fasua noted, calling for patience from Nigerians as the benefits unfold.

THE CENTRAL BANK SPEAKS OUT
Central Bank Governor Olayemi Cardoso underscored the magnitude of economic challenges, including inflation, unemployment, and infrastructure deficits, but expressed optimism about steady progress.

Cardoso urged stakeholders to adopt robust solutions, describing the period as “extraordinary times requiring extraordinary measures.” He highlighted the government’s strides in promoting local production, boosting exports, and reducing reliance on imports—efforts propelled by a weaker naira.

A NEW DAWN FOR NIGERIA’S ECONOMY
Shettima’s Kano visit and his appeal to the financial sector signify a government laser-focused on economic revival. By championing businesses like Mamuda Group and galvanizing financial institutions, the Tinubu administration is signaling its resolve to transform Nigeria into a global economic powerhouse.

With visionary leadership, strategic reforms, and unwavering support for investors, Nigeria’s journey toward a trillion-dollar economy appears well underway.