Vice-President Kashim Shettima says Nigeria is open to investments and collaborations across diverse sectors as President Bola Tinubu pushes ahead with reforms to transform the economy.
Shettima spoke on Monday when he received a delegation from VISA led by Tareq Muhmood, regional president for Central and Eastern Europe, Middle East and Africa (CEMEA), at the presidential villa, Abuja.
The vice-president said that although the reforms introduced by the Tinubu administration since 2023 are painful, they are necessary and beginning to deliver results.
“President Bola Tinubu is determined to change the face of our nation. Today, there is great room for expansion in the Nigerian economy. Eight out of the ten unicorns in Africa are from Nigeria,” he said.
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“The economy has picked pace, we have crossed the rubicon and we are on a path of sustainable growth. The tax reforms are gaining traction, we are restoring discipline to the system and our foreign reserve is growing steadily.”
Shettima commended VISA’s growing interest in the Nigerian economy, particularly its partnerships with indigenous fintech firms, and urged the company to leverage Nigeria’s large unbanked population in its expansion drive across Africa.
He said digital payment systems were the future of commerce on the continent, with the potential to entrench transparency and curb corruption.
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On his part, Muhmood praised Tinubu’s economic reforms, linking them to growth across sectors of the economy.
He highlighted reforms in the oil and gas sector, foreign exchange regime and tax administration as key drivers of investor confidence.
Muhmood also announced the company’s intentions to increase its stake in the Nigerian economy and participate actively in programmes that directly impact lives and livelihoods across different sectors.
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