‘It’s a great time’ — Shettima asks Islamic Development Bank to invest in Nigeria

‘It’s a great time’ — Shettima asks Islamic Development Bank to invest in Nigeria

 Vice-President Kashim Shettima says now is a great time to
invest in Nigeria.

 

Shettima spoke on Tuesday during a meeting with a delegation
from Saudi Arabia’s Islamic Development Bank (IsDB), led by Hammad Hundal, head
of its regional hub.

 

According to a statement by Stanley Nkwocha, senior special
assistant to the president on media and communications, he said the
administration of President Bola Tinubu has addressed most of the grey areas
that previously served as disincentives to investors.

 

The vice-president said the foundation laid by the renewed
hope administration through critical reforms in key sectors of the economy is
creating the right environment for investments in Nigeria.

 

“It is an exciting opportunity to invest in Nigeria. The
administration of President Bola Ahmed Tinubu has created the enabling environment
and is still doing so by addressing most of the grey areas that hitherto served
as a disincentive. So, this is a great time to invest in Nigeria,” he said.

 

Shettima noted that with well-thought-out interventions in
human capital development, nutrition, agriculture, health, education and
promotion of digital trade, the administration has demonstrated commitment in
addressing challenges in the critical sectors.

 

“This administration is poised to address the challenges
that we have in key areas of human capital development, financial inclusion,
infrastructure and nutrition. In fact, we have no option but to address most of
these issues, and we will continue to act in the right direction,” the
vice-president said.

 

 

He praised Nigeria’s collaboration with the Islamic
Development Bank, emphasising that it is rooted in the country’s national
interest.

 

Shettima urged the bank to maintain its support for critical
government initiatives, including the special agro-processing zones (SAPZ), the
i-DICE initiative, and ongoing efforts to develop a Halal economy in Nigeria.

 

“Let us cross-pollinate ideas and come up with a design for
your Country Engagement Framework (CEF),” he said.

 

“I want you to record in your Country Engagement Framework,
the development of a Halal economy, promotion of digital trade, financial
inclusion and other areas. I urge closer collaboration to enable us to address
some of these challenges.”

 

 

He further noted that the bank’s interventions in Nigeria
are in line with the president’s renewed hope agenda across various sectors.

 

Shettima called for greater assistance from the bank in
areas such as agriculture, human capital development, gender inclusion, and
investments in education, health infrastructure, and nutrition.

 

ISLAMIC BANK REAFFIRMS COMMITMENT TO EXPANDING SUPPORT IN
NIGERIA

 

In his remarks, Hundal reaffirmed the bank’s commitment to
scaling up its support in Nigeria by conducting a comprehensive review of its
country engagement framework, with a focus on aligning with Tinubu’s key policy
priorities.

 

He outlined the bank’s major areas of intervention in
Nigeria, which include economic infrastructure, support for the private sector,
energy security, and the i-DICE programme.

 

The statement noted that a major highlight of the meeting
was the presentation of the bank’s CEF to the vice-president by Obioma Asuzu,
its country economist.

 

The CEF outlines key strategic priorities, including
economic recovery, poverty reduction, resilience building, and the promotion of
green growth.

 

Asuzu said the IsDB CEF for Nigeria is guided by the
nation’s core priorities, collaboration with key stakeholders, and effective
resource mobilisation.

Source: ‘It’s a great time’ — Shettima asks Islamic Development Bank to invest in Nigeria

 - NigerianEye
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