By Seun Ibiyemi
The Vice President, Senator Kashim Shettima, has said that President Bola Ahmed Tinubu’s ongoing economic restructuring is rebuilding the fundamental pillars of Nigeria’s economy in a way that strengthens the capacity of states to drive growth and development.
Shettima made the remarks on Wednesday in Lafia, Nasarawa State, during the Nasarawa Investment Summit 2026, where he defended the administration’s reform agenda as one focused on building stronger, more viable subnational economies and reducing states’ dependence on the federal government.
According to him, the reforms are already reshaping key areas of the economy, including energy reliability, fiscal balance, tax administration, and investment facilitation through a unified digital gateway.
“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,” he said, adding that ongoing power sector reforms are expanding opportunities for state participation in energy development.
He noted that federal infrastructure projects such as the Ajaokuta–Kaduna–Kano gas pipeline and the Abuja industrial corridor would complement Nasarawa State’s Gas Master Plan, positioning the region as a major energy hub.
The Vice President further argued that Nigeria is aligning with global best practices where strong federating units drive national prosperity, stressing that subnational governments are increasingly becoming centres of enterprise, innovation, and industrial growth.
Shettima said the Tinubu administration’s reforms have expanded the fiscal and economic space available to states, allowing them to “think, build, invest, and respond” more effectively to citizens’ needs.
He also described the emerging fiscal arrangement between the federal and state governments as a new compact that rewards discipline, competitiveness, and reform-minded leadership, noting that Nasarawa State has positioned itself at the forefront of this shift.
“What Nasarawa State pursues here aligns with the national direction set by our courageous and reform-minded leader, President Bola Ahmed Tinubu,” he stated.
Highlighting investor confidence, Shettima said recent economic indicators show renewed optimism, citing increased capital inflows and strong performance in the equity market.
“Capital inflows rose from $12.32 billion in 2024 to $23.22 billion in 2025, while the equity market returned 51.19 percent in 2025, with market capitalisation reaching ₦99.38 trillion,” he said.
He added that investors are beginning to see Nigeria as a country willing to make difficult but necessary decisions to strengthen its economic future.
“Capital follows credibility, stability, and direction,” he added.
Shettima also commended Nasarawa State for aligning its development agenda with federal reforms through initiatives such as the Nasarawa State Investment Development Agency (NASIDA), a one-stop investment centre, a state electricity regulatory commission, and an infrastructure fund.
Earlier, Nasarawa State Governor, Engr. Abdullahi A. Sule, said the summit was designed to reinforce investor confidence by promoting policy continuity, institutional stability, and governance predictability.
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He stressed that the state’s development framework is anchored on strong institutions rather than individual leadership, ensuring sustainable growth beyond political transitions.
Also speaking, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, said economic reforms must remain dynamic in response to global changes, while praising the administration for managing the disruption associated with reform implementation.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, reaffirmed the federal government’s commitment to partnering with states to mobilise investment, expand local production, and integrate Nigerian businesses into global supply chains.
The Managing Director of NASIDA, Barr. Ibrahim Abdullahi, disclosed that the agency has attracted over $2 billion in investments to Nasarawa State, noting that the summit aims to further boost inflows into the state’s economy.
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