Tinubu rebuilding economic pillars states can rely on, says Shettima
Vice President Kashim Shettima on Wednesday defended the economic reform agenda of President Bola Ahmed Tinubu, saying the administration is rebuilding the critical pillars of the economy that states across
- ...defends reform agenda, says stronger sub-national economies key to national growth
- ...tags Lafia Declaration binding covenant for policy continuity, investment stability
Vice President Kashim Shettima on Wednesday defended the economic reform agenda of President Bola Ahmed Tinubu, saying the administration is rebuilding the critical pillars of the economy that states across the federation can depend on for sustainable growth and development.
Shettima said the ongoing reforms were deliberately designed to reduce subnational dependence on the Federal Government by strengthening state economies through fiscal reforms, improved allocations, energy reliability, tax reforms and a unified digital investment gateway.
The Vice President spoke in Lafia at the Nasarawa Investment Summit 2026, where he described the transformation of subnational economies into viable centres of enterprise and industrial growth as justification for the Tinubu administration’s focus on empowering states.
According to a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima said “at the national level, we are rebuilding the pillars every state depends on: energy reliability, fiscal balance, tax reform, and a single digital gateway for investment.
“The ongoing power-sector reforms are opening new paths for state participation. Federal projects connected to the Ajaokuta-Kaduna-Kano gas pipeline and the Abuja industrial corridor will complement Nasarawa’s Gas Master Plan and position this region as a critical energy hub", he said.
He said countries making the fastest economic progress globally are driven by strong federating units, noting that Nigeria was embracing that reality through reforms aimed at giving states greater economic autonomy and competitiveness.
“All over the world, nations that move fastest are powered by strong federating units and Nigeria is embracing that truth as our subnationals are becoming centres of enterprise, policy innovation, and industrial energy,” he said.
According to him, the reforms have created “greater room to think, to build, to invest, and to respond to the needs of their people with renewed confidence.”
The Vice President said a new relationship was emerging between the Federal Government and the states, one that rewards fiscal discipline, competitiveness and reform-minded leadership.
“What Nasarawa State pursues here aligns with the national direction set by our courageous and reform-minded leader, His Excellency, President Bola Ahmed Tinubu, GCFR,” he stated.
“Across the federation, we are laying the foundations for an economy that rewards production, protects enterprise, and gives our states the room to become engines of growth.”
Shettima stressed the importance of policy continuity in attracting long-term investment, describing it as the “soul of investment.”
He said the “Lafia Declaration” signed at the summit represented more than a ceremonial document, describing it as “an economic covenant” and “a public assurance that Nasarawa’s progress will outlive elections and endure beyond personalities.”
Highlighting gains from the Federal Government’s economic reforms, the Vice President said confidence was gradually returning to Nigeria’s economy, citing improvements in capital inflows and stock market performance.
According to him, capital inflows rose from $12.32 billion in 2024 to $23.22 billion in 2025, while the Nigerian equity market recorded a 51.19 per cent return in 2025, pushing market capitalisation to N99.38 trillion.
“Investors are beginning to read Nigeria again as a country willing to correct itself, a country prepared to take difficult decisions in defence of its future,” Shettima said.
“Capital follows credibility, stability, and direction.”
He commended the Nasarawa State Government for aligning its development initiatives with the Renewed Hope Agenda through institutions such as the Nasarawa State Investment Development Agency (NASIDA), the One Stop Investment Centre, the State Electricity Regulatory Commission and the Nasarawa Infrastructure Fund.
Earlier, Governor Abdullahi Sule said the investment summit was convened to reinforce investor confidence by demonstrating continuity in governance, institutional stability and predictability of policies in the state.
He said the progress recorded in strengthening governance structures in Nasarawa was anchored on durable institutions rather than individual political actors.
“The summit signals clearly that the progress achieved in strengthening the state governance architecture is not just tied to personality but anchored on durable institutions and policy framework that will continue to guide development irrespective of policy transition,” Sule said.
“The summit, therefore, represents a critical moment for aligning political leadership, institutional actors, investors and citizens around a shared vision of a prosperous and resilient Nasarawa State.”
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, said reforms must remain dynamic because the global economy is constantly evolving.
Bagudu praised President Tinubu and Vice President Shettima for effectively managing the temporary disruptions caused by the reforms.
“I think it is the benefits of that disruption that is enabling states like Nasarawa to achieve what they have achieved,” he said.
Also speaking, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the administration had implemented bold reforms over the last two years to stabilise the economy and improve the investment climate.
She reaffirmed the Federal Government’s commitment to partnering with states to mobilise investment, expand local supply chains and connect domestic production to global markets.
Managing Director of NASIDA, Barrister Ibrahim Abdullahi, disclosed that the agency had attracted over $2 billion in investments into Nasarawa State, adding that the summit was organised to deepen investment inflows into the state.
