Vice-President Kashim Shettima says Nigeria will give its
fullest support to both domestic and foreign investors.
Olusola Abiola, director of information, office of the VP,
in a statement, said Shettima spoke on Friday while addressing political and
business leaders at the second plenary session of the Russia-Africa summit in
St. Petersburg, Russia.
Shettima said the Bola Tinubu administration is taking
decisive steps to fight crime, punish offenders, directly tackle insurgency,
and do everything necessary to secure lives and investments in the country.
He said the Tinubu administration is determined to
consolidate on industrialising Nigeria and diversifying its economy into
sectors that the country has a comparative advantage.
“The administration
of President Tinubu recognizes the private sector as the engine of growth and a
veritable partner in our economic agenda, and will therefore give the fullest
possible support to foreign and domestic investors,” he said.
“The administration has identified key growth drivers and
sectors that are very important to the diversification of the Nigerian economy,
including power, transportation, infrastructure, maritime, agro-processing,
mining, manufacturing, petro-chemicals, food processing and textiles.
“The Nigerian government considers these sectors as key
priority areas that will drive the country’s economic agenda.
“In view of the
current geopolitical situation, we must begin to think of real time investment
in addition to trading in commodities.”
He called on Russian companies to take advantage of the vast
potentials in Nigeria to invest in strategic areas and to derive maximum
benefits.
On peace and security, Shettima noted that no meaningful
development could take place without peace.
He added that the Russia-Ukraine crisis was impacting all
nations in different ways.
“The ongoing
situation between these two brotherly countries is unfortunate. Nigeria remains
non-aligned in any conflict situation, but we are deeply concerned about the
potential impact of the crisis on global peace and security,” Shettima said.
“We call on parties to resolve the conflict through
diplomatic means as that is the best option for resolving conflicts and
fostering international peace and security.”
Shettima commended President Vladimir Putin for convening
the summit, saying “it is very significant to Nigeria in many respects.”
“The second session of the Russia-Africa summit is coming at
a time when the administration of President Bola Tinubu is implementing a
home-grown and private sector-driven economic agenda,” he said.
“The agenda is
predicated on good governance, infrastructure and human capital development, as
well as business climate reforms with the expected outcomes in job creation and
poverty alleviation.
“The need, therefore, to invite private sector participation
in the Nigerian economy cannot be over-emphasized. Moreover, the timing of the
summit is very appropriate, as it is a case of ‘investments meeting
opportunities’.”
Earlier, the Russian president reiterated his country’s
commitment to the full economic transformation of the African continent.
“Russia is sincerely ready and willing to stand by African
countries in their efforts to address challenges confronting them,” Putin said.
“We cherish our
relationship with each African nation and will make efforts to sustain it.”
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