RismadarVoice Reporters
August 3, 2026
Vice President Kashim Shettima has called on Nigeria’s 36 states to embrace healthy competition in attracting investments, saying the rivalry is essential to achieving sustainable economic growth, job creation and shared prosperity.
Speaking on Monday at the Delta State Economic and Investment Summit 2026 in Asaba, Shettima said the increasing number and quality of investment summits across the country reflect a proactive economic awakening among subnational governments, driven by President Bola Tinubu’s economic reforms.
The Vice President said states must move beyond identifying economic assets to implementing practical initiatives capable of creating jobs and improving the living standards of citizens.
“The cycle of competition among our states is now evident in the quality and ambition of the investment summits convened across the federation. Every state possesses immense promise, but each must define a trajectory unique to its history, geography, people and comparative advantage.
“This is the race we must welcome, a race that proclaims growth rather than conflict, a race in which the prize is employment, prosperity and human dignity,” he said.
Shettima attributed the growing economic initiatives by state governments to the stronger fiscal position created by President Tinubu’s economic reset, noting that increased federal allocations have empowered states to pursue ambitious development programmes.
According to him, no state wants to be burdened with increased revenues without a clear strategy for productive investment, describing the current wave of investment summits as evidence of a renewed commitment to economic transformation.
He said Nigeria’s progress is increasingly being acknowledged globally, citing positive assessments by international credit rating agencies, including Fitch, Standard & Poor’s and Moody’s, as indicators that the country’s economic reforms are yielding results.
The Vice President commended Delta State Governor Sheriff Francis Oborevwori for convening the summit and prioritising economic diversification, stressing that the state’s greatest asset extends beyond its oil wealth.
He said diversification remains a vital strategy for sustainable development, adding that while natural resources can finance development, long-term prosperity depends on innovation, strong institutions and enterprise.
Shettima assured local and foreign investors of the Federal Government’s commitment to creating an enabling environment for businesses through improved institutions and policies that support private sector investment.
Earlier, Governor Oborevwori said the summit was inspired by investment opportunities identified during official visits to China and Brazil, adding that the initiative is designed to connect investors with the state’s vast economic potential.
He thanked the Vice President for attending the event and reaffirmed his administration’s commitment to attracting investments that would accelerate infrastructure development, industrialisation and job creation.
Also speaking, Anambra State Governor, Prof. Charles Soludo, said Nigeria’s macroeconomic environment has stabilised but stressed the need to attract more foreign investment to sustain economic growth.
Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, urged governments to prioritise fiscal discipline, reduce the cost of doing business, strengthen project implementation and improve maintenance culture to maximise development opportunities.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said President Tinubu’s Renewed Hope Agenda has improved macroeconomic stability and increased revenues available to states and local governments, urging subnational governments to deploy the resources strategically.
Chairman of Heirs Holdings, Chief Tony Elumelu, described Delta State as a safe and attractive investment destination and pledged support towards improving electricity distribution to drive economic activities.
Delivering the keynote address, renowned Kenyan scholar, Prof. P.L.O. Lumumba, challenged African leaders to maximise the continent’s abundant natural resources through mutually beneficial partnerships with the global community rather than exploitative relationships.
He urged African countries to position themselves as equal investment partners capable of driving sustainable development.
