Bauchi: President Bola Tinubu announced that Nigeria has moved beyond economic instability under his administration, during the opening of Bauchi State’s first Investment Summit. He emphasized the importance of collaboration between all levels of government and the private sector to boost development nationwide.
According to Voice of Nigeria, the two-day investment summit, the first in Bauchi State, gathered domestic and foreign investors and other business stakeholders to explore expanding the state’s business opportunities. President Tinubu, represented by Vice President Kashim Shettima, stated that the administration’s significant economic reforms have steered Nigeria towards economic stability.
The Nigerian leader highlighted the growth of non-oil revenues by 411 percent year-on-year and an increase in the tax-to-GDP ratio to 13.5 percent. He also noted that the debt-to-GDP ratio remains at 38.8 percent, well below the Fiscal Responsibility Act’s limit of 60 percent. President Tinubu assured investors of Nigeria’s stability, citing the growth of external reserves to 43 billion dollars by September 2025.
Vice President Shettima, representing President Tinubu, outlined the administration’s development plan, focusing on job creation, food security, value-chain development, and unlocking subnational comparative advantages. These goals, he noted, are tied to the investment opportunities in Bauchi State, including its agricultural potential, solid minerals, tourism, and infrastructure improvements.
The Vice President stressed the necessity of government partnership across all tiers to achieve nationwide development. He attributed the economic progress to the administration’s initiatives aimed at removing obstacles hindering the country’s growth. Shettima emphasized that enduring growth depends on stability, urging participants to move beyond discussions to concrete actions for project implementation.
Former President Olusegun Obasanjo expressed hope for Nigeria’s future, emphasizing the need for strong partnerships to strengthen businesses. He highlighted governance, security, and collaboration as crucial components for successful investments. Bauchi State Governor Bala Mohammed assured participants that the summit’s recommendations would be enacted and praised the federal government’s support for regional development through the North-East Development Commission.
The summit also saw contributions from other notable figures, including Chairman of the North East Governors’ Forum, Prof. Babagana Zulum, and former Head of Civil Service Mahmud Yayale Ahmed, who stressed the importance of leadership and education for development. Sultan of Sokoto, His Eminence Abubakar Sa’ad III, urged for commitment to implementing summit resolutions and emphasized the need for security in achieving developmental goals.