Nigeria Vice President Predicts Country’s Rise As Global Economic Power Under Tinubu

Vice President Kashim Shettima believes Nigeria has the potential to become a major economic force in the world under President Bola Ahmed Tinubu, as his administration is focused on making a really good environment for both local and foreign investors.

Speaking on Wednesday at the Presidential Villa while hosting a delegation from the Commonwealth Enterprise Investment Council (CWEIC) led by its CEO Rosie Glazerbrook, the vice president mentioned how the government is focused on using young people's skills in digital technology, improving electricity supply, boosting production and manufacturing.

"Nigeria is where the attraction should be for investors all over the world as Nigeria will become a major global economic force under President Tinubu," he said, as per the official statement of State House.

By 2050, he noted, Nigeria was set to become the third most populous country in the world, and added that recently an investment bank projected that by 2075 the nation's economy will be the third largest in the world.

Shettima emphasized that "the trajectory of global growth is facing Africa and Nigeria will make or mar that transition," adding that the future belongs to Africa and if Nigeria works, then Africa works.

"You have come to Nigeria at the right time – a time when a pro-business government is at the helm of affairs in the country and we are ready for business," he said.

Glazerbrook vowed to support the Nigerian government, and highlighted some of CWEIC's forthcoming events both in Nigeria and outside, including the Commonwealth Trade and Investment Forum in London in 2025 and the proposed Trade and Investment Forum to be held in Nigeria in the second half of 2025.

"We will really like to look up ways where we can encourage the Nigerian government and the business community to take advantage of the commonwealth market across the 56 countries and other partners in the Middle East and North Africa," she said.

Founder of Zenith Bank Chief Jim Ovia, Chair of the CWEIC in Nigeria Olasupo Shasore, CWEIC Country Director in Nigeria Obinna Anyanwu and representatives of partners and members of the Council from the public and private sectors also attended the meeting.

The International Monetary Fund (IMF) on Tuesday announced that it expected Nigeria's Gross Domestic Product (GDP) to increase by 3.3% this year, compared to 2.9% last year.