Shettima Declares Nigeria Open For Business At The 2025 PPP Summit

On Monday, Vice President Kashim Shettima announced Nigeria’s readiness for global business opportunities during the opening of the Nigeria 2025 Public-Private Partnership Summit at the State House in Abuja.

The summit, hosted by the Infrastructure Concession Regulatory Commission, convened government and private sector leaders to discuss strategies for addressing Nigeria’s $2.3 trillion infrastructure deficit.

Representing President Bola Tinubu, Shettima emphasized, “We are not seeking investors to carry burdens; we are opening opportunities to create value. We want long-term partners ready to bridge our infrastructure gap with purpose, precision, and integrity.”

He highlighted that Nigeria cannot achieve a modern economy with outdated infrastructure and noted that depending solely on government funds for major projects is no longer viable.

Shettima pointed to the Tinubu administration’s reforms, including liberalizing the foreign exchange market, eliminating fuel subsidies, and bolstering the ICRC to encourage investment.

He remarked, “Policies alone don’t generate megawatts or build roads. What we need is collective action.”

The Vice President explained that the National Integrated Infrastructure Master Plan (2020–2043) aims to increase Nigeria’s infrastructure stock from 30–35% of GDP to at least 70% by 2043.

With a population exceeding 230 million, projected to reach 440 million by 2050, Shettima underscored Nigeria’s vast market potential, stating, “One out of every four Black people is a Nigerian. There is no African market like this.”

He encouraged investors to prioritize long-term value and meaningful impact.

Shettima urged, “Let this summit not be remembered for kind speeches; we’ve had those for decades, but for bankable projects, signed deals, and enduring progress.”

ICRC Director General Jobson Ewalefoh, in his opening remarks, reiterated the government’s commitment to bridging the infrastructure gap through strategic public-private partnerships.

Addressing the summit’s theme, “Unlocking Nigeria’s Potential: The Role of PPPs in Delivering the Renewed Hope Agenda,” Ewalefoh emphasized the importance of PPPs in driving sustainable development.

He highlighted ongoing initiatives like the Highway Development and Management Initiative, the Egini Medical Infrastructure Scheme, and the Dasin Hausa Dam as evidence of progress.

Ewalefoh affirmed, “ICRC is committed to ensuring that all PPP projects are legally compliant, economically viable, and socially impactful.”

He praised President Tinubu and Vice President Shettima for their focus on infrastructure and private-sector-driven growth, while also recognizing the contributions of partners such as AfDB, NESG, Afreximbank, IFC, and Africa50.