Nigeria’ll become major global economic force under Tinubu – Shettima

Vice President Kashim Shettima said Wednesday that Nigeria would become a major economic force in the world under President Bola Ahmed Tinubu.

The Vice President said this when he received a delegation from the Commonwealth Enterprise Investment Council (CWEIC) led by its CEO, Ms Rosie Glazerbrook, at the Presidential Villa in Abuja.

He said the Tinubu administration was committed to creating an unprecedented enabling environment for local and foreign investors to thrive through harnessing resources of the country’s youth population in digital technology, improving electricity supply, boosting production and manufacturing, among other initiatives.

He said the Tinubu-led federal government was determined to transform the country’s demographic bulge into demographic dividends, assuring that the “administration will harness the resources of its young population to build a more prosperous and progressive country.”

He said Nigeria was ready for business and the President, a pro-business leader who rose from the business ecosystem, was committed to supporting the growth of businesses in Nigeria.

“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.

“By 2050, Nigeria will be the third most populous country in the world and only recently, an investment bank projected that by 2075 Nigeria’s economy will be the third largest in the world.

“It shows that the trajectory of global growth is facing Africa and Nigeria will make or mar that transition. So, the future belongs to Africa. If Nigeria works, 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.

Also speaking, the CEO of the Commonwealth Enterprise Investment Council Ms Rosie Glazerbrook pledged the group’s support to the Nigerian government.

She 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.

Pledging CWEIC’s support to the Nigerian economy, she said: “We want to help boost trade and investment into Nigeria and equally support Nigerian businesses looking out to develop plans for more interactions with foreign partners.

“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.”

Meanwhile, the Vice President has assured the Institute of Chartered Accountants of Nigeria (ICAN) that the executive arm of government would liaise with the National Assembly to consider the review of the institute’s enabling Act of 1965.

The Vice Presidentsaid this while responding to the appeal for review of ICAN laws by the delegation of institute led by its president, Dr Innocent Okwuosa.

Highlighting the significance of ICAN, the Vice President told the delegation that the Tinubu-led federal government was proud of their accomplishments.

“We are very proud of your accomplishments, apolitical stands on issues, standing with the interest that supersedes other considerations. Our task reform committee is headed by one of your best.

“We will liaise with the National Assembly and see to it that the 1965 Act which has become obsolete and outlived its usefulness is reviewed, taking into cognizance the views and perspectives of your members,” he said.