Vice President Kashim Shettima says Nigeria’s next phase of economic expansion will depend largely on the ability of states to properly document their assets, attract investment, grow tourism and convert local potential into jobs and shared prosperity.
Accordingly, VP Shettima challenged state governments to move from documentation to implementation in unlocking Nigeria’s economic potential.
He spoke on Wednesday in Abuja during the Sub-National Government Economic and Tourism Information Roundtable and launch of the National Compendium on the Economic and Tourism Profiles of the 36 States and the Federal Capital Territory.
The Vice President who was represented at the event by the Special Adviser to the President on Economic Matters, Dr Tope Fasua, said; “the document represents a major national tool for investment promotion, economic planning and tourism development.’
Renewed Hope Agenda
He noted that the compendium aligned with the Renewed Hope Agenda by placing states at the centre of Nigeria’s growth strategy.
According to him, “Nigeria is not poor in opportunities, but must do more to organise its assets, present them credibly and connect them to capital, markets, technology and investors.’
“Nigeria is rich in assets, rich in talent, rich in culture, rich in enterprise and rich in natural endowments. What we must do is organise these assets, document them properly, present them credibly, and connect them to capital, markets, technology and investors,” VP Shettima said.
Tourism Guide
He described the compendium as a national investment document, a tourism guide, an economic intelligence tool and a branding instrument for telling Nigeria’s story in a more structured and compelling way.
“For too long, our story has been told from the narrow lens of challenges. Today we tell a broader story of opportunity, resilience, creativity and partnership,” he explained.
The Vice President said that each state has a distinct economic advantage that can be developed into bankable projects.
He noted that some states are strong in agriculture, solid minerals, gas, logistics, manufacturing, ICT and tourism, while others possess major cultural and natural attractions.
Creating jobs
VP Shettima said the real policy challenge before government is to move beyond identifying potential to building practical investment pipelines that can create jobs.
“The challenge is how to convert potential into projects, projects into investments, investments into jobs, and jobs into shared prosperity,” he said.
Direction
The Vice President stressed that while the Nigerian Government will continue to provide policy direction, infrastructure support and diplomatic engagement, states remain the real engines of inclusive growth because they control the spaces where investments are located and where citizens directly experience development.
VP Shettima urged state governments to improve ease of doing business, secure communities, provide reliable data, identify their comparative advantages and build responsive institutions that can support enterprise.
He explained “the initiative is also linked to the Sustainable Development Goals, especially in the areas of poverty reduction, decent work, industrial growth, innovation, reduced inequality, sustainable cities, responsible production and partnerships.”
VP Shettima said these goals cannot be achieved through declarations alone, but through practical investment, credible data and public-private partnerships.
Minister of Information and National Orientation, Mohammed Idris, said the national compendium is one of the laudable initiatives coming at a time when the Nigerian Government is implementing bold reforms across the country.
He urged state governments to engage with the relevant information contained in the compendium and view the economic and tourism profiles outlined in the document as a “call to action” for development.
The Minister of Art, Culture, Tourism and the Creative Economy, Hannatu Musawa, represented by the ministry’s Permanent Secretary, Abdulkarim Ibrahim, said the roundtable provides an opportunity for states to identify their investment opportunities in hospitality, the economy, tourism and digital innovation, while showcasing them to the world.
Also speaking, the Executive Secretary and Chief Executive Officer of the Nigerian Press Council, Dr. Dili Ezughah, pledged the council’s support for research and documentation.
He noted that the council would continue to sustain partnerships with relevant agencies and the private sector, aimed at driving the economic transformation of the federation.
