Vice President Kashim Shettima says Nigeria is at a new dawn in terms of charting and re-positioning its destiny for greatness, citing President Bola Tinubu’s administration’s efforts to diversify the country’s economy.
In a statement, Mr Olusola Abiola, Director, Information, Office of the Vice President, said Shettima revealed this while addressing political and business leaders during the second plenary session of the Russia-Africa Summit on Friday in St. Petersburg, Russia.
He stated that the government was taking decisive action to combat crime, punish offenders, directly combat insurgency, and do everything possible to protect lives and investments in the country.
Shettima also stated that the Tinubu administration had resolved and was steadfast in its determination to industrialise Nigeria and diversify its economy into sectors where the country has a competitive advantage.
“The Tinubu administration recognises the private sector as the engine of growth and a true partner in our economic agenda, and will thus provide full support to both foreign and domestic investors.”
“The administration has identified key growth drivers and sectors that are critical to Nigeria’s economic diversification, including power, transportation, infrastructure, maritime, agro-processing, mining, manufacturing, petro-chemicals, food processing, and textiles.”
“The Nigerian government considers these sectors to be key priority areas that will drive the country’s economic agenda,” the vice president stated.
Shettima went on to say that “in light of the current geopolitical situation, we must begin to think of real time investment in addition to commodity trading in Nigeria.”
He urged Russian enterprises to capitalise on the tremendous potentials in Nigeria, Africa’s largest market, by investing in critical areas and reaping maximum rewards.
On peace and security, Shettima stated that without peace, no significant growth could take place, and that the Russia-Ukraine situation was affecting all nations in different ways.
“The current situation between these two brotherly countries is regrettable.” In any conflict situation, Nigeria remains non-aligned, but we are gravely concerned about the crisis’s possible implications on world peace and security.
“We urge parties to resolve the conflict diplomatically, as this is the best option for resolving conflicts and promoting international peace and security.”
Vice President Shettima praised President Putin and the Russian government for organising the Summit, saying it was “very significant to Nigeria in many ways.”
“The second session of the Russia-Africa Summit comes at a time when President Bola Tinubu’s administration is implementing a home-grown and private-sector-driven Economic Agenda.”
“The agenda is based on good governance, infrastructure and human capital development, as well as business climate reforms, with the goal of creating jobs and alleviating poverty.”
“As a result, the need to encourage private sector participation in the Nigerian economy cannot be overstated.” Furthermore, the Summit’s timing is ideal, since it is a case of ‘Investments meeting Opportunities.'”
Earlier, Russian President Vladimir Putin paid glowing homage to the continent’s founding fathers, highlighting their contributions to the establishment of the existing African states.
President Putin, who talked on a wide range of bilateral cooperation issues, including security and defence, business, agriculture, and the environment agenda, reaffirmed his country’s commitment to the African continent’s entire economic development.
“Russia is sincerely ready and willing to support African countries in their efforts to address the challenges they face.” We value our relationships with each African country and will work hard to maintain them.”
Seventeen African Heads of State, five Vice Presidents, ten Heads of Government, and business leaders from Russia, Africa, and beyond are in attendance at the Summit, which is being held in St Petersburg’s ExpoForum.
The Nigerian News Agency (NAN) is a media partner of the Russia-Africa Summit 2023, and its Managing Director, Mr Buki Ponle, is also in attendance. (NAN)
