Tinubu rebuilding economic pillars states can depend on – Shettima

….tags Nasarawa Investment Summit/Lafia Declaration as binding public covenant

Vice President Kashim Shettima said President Bola Tinubu’s comprehensive economic restructuring is rebuilding the pillars of Nigeria’s economy every state of the federation can depend on.

Stanley Nkwocha, senior special assistant to the president for media and communications, in a statement, said Shettima notes that the restructuring is aimed at reducing subnational dependence on the federal government.

Shettima, who made the observation on Wednesday in Lafia during the Nasarawa Investment Summit 2026, noted that the ongoing transformation of subnational economies into stronger and more viable entities justifies the choice of states as the focal point of the reform agenda of the Tinubu administration.

“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. The ongoing power-sector reforms are opening new paths for state participation.

“Federal projects connected to the Ajaokuta-Kaduna-Kano gas pipeline and the Abuja industrial corridor will complement Nasarawa’s Gas Master Plan and position this region as a critical energy hub,” he stated.

Shettima said the administration’s decision is further supported by the fact that “all over the world, nations that move fastest are powered by strong federating units, and Nigeria is embracing that truth as our subnationals are becoming centres of enterprise, policy innovation, and industrial energy.”

He explained that through the reforms undertaken by the Tinubu administration, states “now have greater room to think, to build, to invest, and to respond to the needs of their people with renewed confidence”.

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He noted that the new compact being built between Abuja and the 36 states of the federation is such “that rewards fiscal discipline, competitiveness, and the courage to reform”, adding that Nasarawa State has earned its place at the forefront of that movement.

“What Nasarawa State pursues here aligns with the national direction set by our courageous and reform-minded leader, His Excellency, President Bola Ahmed Tinubu, GCFR. Across the federation, we are laying the foundations for an economy that rewards production, protects enterprise, and gives our states the room to become engines of growth,” he declared.

Observing that the theme of the summit could not be more timely, Shettima said bold transitions are a reminder that “development must be transferred from one generation of leadership to the next without rupture”, even as “policy continuity is the soul of investment”.

On the “Lafia Declaration” signed at the summit, VP Shettima tagged the pact as ‘an economic covenant, a public assurance that Nasarawa’s progress will outlive elections and endure beyond personalities.”

Speaking further on the gains of the economic reforms, he noted that confidence is gradually returning to the marketplace as “Capital inflows rose from 12.32 billion dollars in 2024 to 23.22 billion dollars in 2025, while the equity market returned 51.19 percent in 2025, with market capitalisation reaching 99.38 trillion naira.

“Investors are beginning to read Nigeria again as a country willing to correct itself, a country prepared to take difficult decisions in defence of its future. Capital follows credibility, stability, and direction.”

He commended the efforts of the Nasarawa State Government in aligning its programmes and policies with key features of the Renewed Hope Agenda, which is reflected in the establishment of the “Nasarawa State Investment Development Agency (NASIDA) and the One Stop Investment Centre to the creation of the State Electricity Regulatory Commission and the Nasarawa Infrastructure Fund, among many others.”

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Earlier, Governor Abdullahi Sule of Nasarawa State, in his opening remarks, explained that the summit was aimed at reinforcing investors’ confidence by emphasising the continuity of policy, stability of institutions and productability of governance.

The governor added that the summit signals clearly that the progress achieved in strengthening the state governance architecture is not just tied to personality but anchored on durable institutions and policy frameworks that will continue to guide development irrespective of policy transition.

“The summit, therefore, represents a critical moment for aligning political leadership, institutional actors, investors and citizens around a shared vision of the prosperous and resilient Nasarawa State,” he explained.

Atiku Bagudu, minister of budget and economic planning, noted that reforms are not static because the world is evolving and changing daily.

This, he pointed out, is the paradigm on which the Renewed Hope Agenda was framed, even as he applauded the wisdom of President Tinubu and Vice President Shettima for managing the economic disruption.

“And I think it is the benefits of that disruption that are enabling states like Nasarawa to achieve what they have achieved,” the minister said.

Jumoke Oduwole, minister of Industry, Trade and Investment, in her remarks, said over the last two years, the Tinubu administration undertook bold economic reforms to stabilise the economy.

She reaffirmed the commitment of the federal government to partner with state governments to mobilise investment, expand local supply and connect supply to global demands.

Also speaking, Ibrahim Abdullahi, Managing Director of Nasarawa Investment and Development Agency (NASIDA), said the agency has attracted over $2 billion in investment into the state, adding that the summit was organised to ensure investment inflows to the state.