Vice President Kashim Shettima has said the Federal Government’s (FG) economic reforms are beginning to rebuild state economies by laying a stronger foundation for energy stability, fiscal discipline and sustainable growth across Nigeria.
Speaking on Wednesday at the Nasarawa Investment Summit 2026 in Lafia, he defended the reform agenda of President Bola Tinubu.
He described it as a deliberate shift aimed at empowering states to drive national economic growth.
According to Shettima, the FG is moving away from a culture of overdependence by encouraging states to embrace reforms, improve fiscal management and become more economically competitive.
He explained that the administration’s strategy focuses on strengthening subnational economies through improved power access, coordinated infrastructure development and digital innovation.
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Among the key priorities he highlighted were expanding opportunities for states to participate more actively in the power sector and aligning major federal infrastructure projects with state development plans.
He also mentioned creating a unified digital gateway to attract and simplify global investment.
Shettima said the reforms were already reshaping the role of states within the national economy.
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“The transformation of subnational economies into stronger and more viable entities validates the decision to make states the centrepiece of the reform agenda,” he said.
Shettima also pointed to fresh economic indicators which, according to him, suggest growing international confidence in Nigeria’s economy.
Equity market
He disclosed that capital inflows increased from $12.32 billion in 2024 to $23.22 billion in 2025, while the Nigerian equity market recorded a 51.19 per cent return in 2025, pushing market capitalisation to ₦99.38 trillion.
According to him, investors are beginning to see Nigeria as a country taking deliberate steps to stabilise and reposition its economy.
“Capital follows credibility, stability and direction,” Shettima stated.
A major highlight of the summit was the signing of the Lafia Declaration, which Shettima described as a long-term commitment to sustain Nasarawa State’s economic development beyond the current administration.
Governor Abdullahi Sule said the initiative reflected the state’s determination to build strong institutions capable of outlasting political transitions.
Managing Director of the Nasarawa Investment and Development Agency, Ibrahim Abdullahi, revealed that the agency had already secured more than $2 billion in investments for the state.
The summit also featured remarks from Abubakar Bagudu and Jumoke Oduwole, who both reiterated the FG’s commitment to stabilising the economy and linking local industries to global markets.
