Vice President Kashim Shettima says Nigeria’s ambition of building a one-trillion-dollar economy is driven by enterprise, investment and coordinated reforms across all levels of government.
Speaking on Monday at the Invest Lagos 3.0 Summit in Lagos, he identified Lagos State as the clearest demonstration of how subnational leadership can accelerate national economic transformation.
Shettima said the country’s economic future depends on conditions that allow capital, innovation and productive enterprise to thrive. He described Lagos as Nigeria’s foremost economic gateway and one of Africa’s most influential centres for commerce and investment.
The Vice President credited Lagos’ growth to long-term planning and governance reforms since 1999.
He lauded President Bola Tinubu for laying the foundation of the Lagos development model and commended Governor Babajide Sanwo-Olu for sustaining growth momentum and strengthening the state’s investment appeal.
Shettima reaffirmed the Tinubu administration’s economic agenda, saying recent macroeconomic reforms were designed to restore market confidence, improve fiscal sustainability and unlock private investment.
“We have taken difficult decisions because we understand that the economy of our dream cannot be built on illusions. It must be built on productivity, discipline, competitiveness, and the courage to create a climate in which enterprise can breathe,” he said.
Shettima said Nigeria’s demographic profile and strategic position under AfCFTA present a platform for industrial expansion. With Nigeria projected among the world’s largest populations by 2050 and AfCFTA creating access to 1.4 billion people, he said the country is positioned to emerge as Africa’s leading production, logistics, innovation and investment hub. He stressed that the Federal Government cannot deliver transformation in isolation.
Also speaking, Governor Sanwo-Olu of Lagos State said the forum reinforced Lagos’ status as an investment-ready destination.
He acknowledged Tinubu’s contribution to the “new Lagos” and outlined gains in agriculture, health, transport, energy, technology, trade and commerce, assuring investors of subnational growth anchored by the Federal Government.
Contributing, the Minister of Finance Taiwo Oyedele said the Tinubu administration’s reforms made Lagos shine in subnational development and trade. He said the FG has dismantled structural deficiencies in the economy over the past two years, with resilience now manifesting across sectors.
Lagos Commissioner for Commerce Folashade Bada said the summit showed Lagos is open for business and investment, assuring investors of a conducive environment.
Contributing, the Commonwealth Secretary-General Shirley Botchwey called Lagos the continent’s business gateway and “a city of proof, not just potential”.
AfCFTA Secretary-General Wamkele Mene said Africa’s growth will depend on collaboration and investment in infrastructure and entrepreneurship, adding that Lagos is well positioned to actualise the African vision.
The opening session featured a fireside chat with Governors Caleb Mutfwang, Abdullahi Sule, Hope Uzodinma, Babajide Sanwo-Olu and Alex Otti.
