WorldStage— Nigeria’s Vice President Kashim Shettima has urged Nigeria’s 36 states of the federation to embrace a healthy cycle of competition to unlock their unique economic potentials, drive investments, and generate sustainable job opportunities.
He made the call on Monday, August 3, 2026 at the Delta State Economic and Investment Summit 2026 in Asaba,
Shettima emphasized that the nation’s long-term prosperity relies on the proactive economic awakening of its subnational governments rather than heavy reliance on the federal center.
“Every state possesses immense promise, but each must define a trajectory unique to its history, geography, people, and comparative advantage,” the Vice President stated.
He explained that the growing trend of subnational investment summits reflects a shifting paradigm across the federation, and driven by development rather than conflict.
He characterized the friendly rivalry as a
race for the future where the ultimate prizes are employment and human dignity.
The Vice President linked the widespread economic awakening to the fiscal and macroeconomic reforms initiated under President Bola Tinubu’s Renewed Hope Agenda.
According to him, recent policy overhauls have dramatically increased statutory allocations to state governments, putting them in a stronger financial position to execute capital-intensive development projects and improve infrastructure.
He also utilized the high-profile platform to defend the administration’s broader fiscal trajectory.
Highlighting a significant rebound in economic indices, Shettima noted that Nigeria’s foreign reserves have surged to approximately $52 billion, up from a previous low of $3 billion during an era plagued by severe capital flight.
“The President deserves commendation and not condemnation,” Shettima declared, pointing to the renewed influx of foreign direct investments as proof that the reforms are working.
The three-day summit, themed “Harnessing Our Strengths, Unlocking Our Potentials,” brought together global economic experts, diplomatic delegations, and top business leaders from across China and Brazil.
Commending Delta State Governor Sheriff Oborevwori for his focus on economic diversification, Shettima urged the state to aggressively transition from documenting assets to implementing practical, market-ready projects.
The event also featured high-profile presentations from other key figures, including the Director-General of the World Trade Organization, Dr. Ngozi Okonjo-Iweala, and Pan-Africanist Professor Patrick Lumumba, who both echoed the call for states to build resilient, private-sector-led economies.
Shettima’s comments come at a time when Nigeria is seeking stronger economic growth following major macroeconomic reforms, including the removal of fuel subsidies and the liberalisation of the foreign exchange market.
While these reforms are intended to strengthen long-term economic stability and improve investor confidence, they have also increased short-term economic pressures on households and businesses.
