Nigeria Open for Business, Shettima Declares at ICRC Abuja Summit

The Vice President Kashim Shettima on Monday, June 16, 2025, delivered a resounding message to the global investment community: Nigeria is unequivocally “open for business.” Speaking at the 2025 Public-Private Partnership (PPP) Summit hosted by the Infrastructure Concession Regulatory Commission (ICRC) at the State House, Abuja, Shettima, representing President Bola Tinubu, urged both local and international investors to seize the country’s vast economic opportunities through sustainable partnerships.

The summit, themed “Unlocking Nigeria’s Potential: The Role of PPPs in Delivering the Renewed Hope Agenda,” served as a platform to address Nigeria’s staggering $2.3 trillion infrastructure deficit. Shettima emphasized that the nation can no longer rely on outdated infrastructure or solely on government funding to drive its economic ambitions. “We are not seeking investors to carry burdens; we are opening opportunities to create value,” he stated, stressing the need for “long-term partners ready to bridge our infrastructure gap with purpose, precision, and integrity.”

The Vice President highlighted the administration’s bold economic reforms, including the liberalization of the foreign exchange market, removal of fuel subsidies, and strengthening of regulatory frameworks, as critical steps towards creating a more attractive investment climate. He reiterated that while policies are important, “What we need is collective action” to translate vision into tangible projects.

Citing Nigeria’s immense market potential, with a population exceeding 230 million and projected to reach 440 million by 2050, Shettima underscored the country’s position as Africa’s largest consumer market. He challenged attendees to move beyond rhetoric and focus on “bankable projects, signed deals, and enduring progress.”

ICRC Director General, Jobson Ewalefoh, echoed these sentiments, reaffirming the government’s commitment to leveraging PPPs for national development. He assured investors of Nigeria’s readiness for partnership, citing ongoing projects as proof of concept and emphasizing ICRC’s dedication to ensuring all PPP projects are “legally compliant, economically viable, and socially impactful.”

The summit signifies Nigeria’s renewed push to attract private capital and expertise, positioning itself as a prime destination for investments that will drive its economic growth and deliver on the “Renewed Hope Agenda.”