Nigeria Poised to Lead Africa’s Economic Transformation, Says Shettima

Vice President Kashim Shettima has said Nigeria is strategically positioned to spearhead Africa’s next phase of economic growth and intra-continental trade, citing the country’s market strength, innovation potential, and expanding investment landscape.

Represented by his Deputy Chief of Staff, Ibrahim Hassan Hadeija, Shettima made the declaration at the High-Level Conference on Intra-African Trade, organised by Woodhall Capital at the Presidential Villa, Abuja. The event precedes upcoming investment roadshows in London, Dubai, and Abu Dhabi, aimed at mobilising global investors toward Nigeria’s sub-national projects.

Shettima commended Woodhall Capital for its efforts to mobilise international funding for both national and state-level development, describing the initiative as “patriotic and transformative.”

“For too long, Africa’s trade narrative has centred on extraction and export to the Global North. It’s time to unlock the full potential of intra-African trade,” he said. “While intra-EU and intra-Asia trade stand at over 60 percent, Africa’s remains below 17 percent. That must change.”

The vice president noted that sub-national governments must take the lead in developing well-structured, de-risked, and market-aligned projects capable of attracting global capital. “To secure sustainable investments, Nigeria must build a predictable policy environment grounded in transparency and accountability. Capital follows confidence, and confidence follows governance,” he added.

Shettima reaffirmed the administration’s resolve to stabilise the naira, reform subsidy regimes, simplify trade integration, and enhance the ease of doing business through the Presidential Enabling Business Environment Council (PEBEC).

He urged governors to seize opportunities in agro-exports, energy, and digital trade, saying, “The capital is ready, the markets are ready, and the world is watching. This is Nigeria’s moment to redefine its role, not as a participant, but as a leader in Africa’s economic revolution.”

Chairman of the Nigeria Governors’ Forum (NGF) and Kwara State Governor, AbdulRahman AbdulRazaq, reaffirmed the states’ readiness to drive the next phase of Africa’s trade and investment growth. Represented by Zamfara State Governor, Dauda Lawal, AbdulRazaq said the forum signals Nigeria’s commitment to global competitiveness.

“This gathering is a statement that Nigerian states are open for business,” he said, referencing the NGF’s partnership with Woodhall Capital and the July 2025 Memorandum of Understanding linking state projects with credible investors in the UK and UAE.

AbdulRazaq also highlighted the NGF’s Investopedia platform, launched earlier this year, which showcases hundreds of investment-ready projects in infrastructure, agriculture, energy, logistics, and the creative sector, all aligned with the African Continental Free Trade Area (AfCFTA) framework.

Acting Regional COO and Head of Mission for Anglophone West Africa at Afreximbank, Mr. Alain-Thierry Mbongue, reaffirmed the bank’s commitment to supporting state governments in attracting investments and strengthening intra-African trade.

Representing Afreximbank President, Prof. Benedict Oramah, Mbongue said the forum marked “a pivotal moment in Nigeria’s investment narrative,” adding that Afreximbank’s African Sub-Sovereign Government Network (AfSNET) provides governors, mayors, and regional leaders with financing and policy support to drive local development.

“Our philosophy is simple, development must be decentralised,” he said. “It begins in cities and regions and radiates outward to shape national and continental progress.”

He revealed that the next AfSNET Investment Forum will be hosted in Cross River State in 2026 and praised Nigeria’s growing commitment to regional trade integration.

Woodhall Capital President, Mrs. Mojisola Hunponu-Wusu, called on investors to leverage Nigeria’s evolving economy and collaborate with sub-national governments to unlock growth opportunities.

“This is not just another meeting; it’s a bridge connecting policy with capital and Nigeria with the world,” she said. Hunponu-Wusu commended President Bola Tinubu’s economic reforms, including forex liberalisation, exchange rate unification, and capital market deepening, as critical steps that have restored investor confidence.

She announced that the NGF–Woodhall Capital international investor roadshows would begin soon in London, Dubai, and Abu Dhabi, offering Nigerian states direct access to financiers and development partners.

“No longer do we approach investors with begging bowls,” she declared. “Nigeria and Africa have investable opportunities, and the time to act is now.”