Nigeria woos Swedish investors as VP Shettima touts economic reforms

Vice President Kashim Shettima, on Thursday, made a compelling case for global investors to capitalize on Nigeria’s burgeoning investment opportunities.

Speaking at the Epicenter in Stockholm, Sweden, during his two-day visit to bolster trade and bilateral relations, Shettima emphasized Nigeria’s strategic advantages, including its large and youthful population, digital economy, agriculture and renewable energy sectors.

“Nigeria is an ambitious nation, bound by the limitless potential of the Fourth Industrial Revolution,” Shettima said, highlighting the country’s commitment to innovation and progress.

He cited the Tinubu administration’s bold reforms, such as unifying exchange rates and removing fuel subsidies, as crucial steps toward sustainable economic growth.

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The Vice President’s “Renewed Hope Agenda” prioritizes creating a competitive business environment, attracting foreign and domestic investments. Financial sector reforms, including the revised Cashless Policy and Open Banking Framework, promote financial inclusion and innovative financial products.

Shettima identified digital economy, agriculture and renewable energy as key sectors addressing global challenges like food security, climate change and economic growth.

He urged Swedish investors to seize Nigeria’s opportunities, fostering collaboration across finance, renewable energy, digital innovation, agriculture and education.

Trade between Nigeria and Sweden grew 30% in 2022, demonstrating the potential for deeper collaboration. Shettima emphasized Nigeria’s sophisticated financial sector, resilience and strategic advantages, driven by its youthful population’s creativity and knowledge-sharing.

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