UNGA80: Shettima Woos Investors With Nigeria’s $200bn Energy Transition Opportunity

UNGA80: Shettima Woos Investors With Nigeria’s $200bn Energy Transition Opportunity
…says Nigeria positioned as natural hub for AfCFTA’s $3.4 trillion market
He pointed to recent reforms under the Renewed Hope Agenda

Vice President Kashim Shettima has presented Nigeria’s $200 billion energy transition potential to investors, urging global partnerships to unlock multi-billion-dollar opportunities across the country, Eko Hot Blog reports.

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Speaking at a roundtable hosted by the Business Council for International Understanding (BCIU) on the sidelines of the 80th United Nations General Assembly in New York, Shettima stressed that Nigeria was positioning itself as the natural hub for the African Continental Free Trade Area (AfCFTA) market, valued at $3.4 trillion.

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Representing President Bola Tinubu, Shettima noted that Nigeria’s improved sovereign ratings by Fitch and Moody’s underscored growing confidence in the country’s economic direction.

He pointed to recent reforms under the Renewed Hope Agenda, including exchange rate unification, subsidy removal, tax and customs modernisation, and a new investment framework, as signals of a bold economic reset.

“Nigeria remains West Africa’s largest economy and Africa’s biggest consumer market with 236 million people, projected to reach 320 million by 2040,” he said, adding that more than half of the population is under 30, making the country one of the world’s deepest talent pools.

UNGA80: Shettima Woos Investors With Nigeria’s $200bn Energy Transition Opportunity

Shettima also highlighted Nigeria’s natural resources and energy potential, including 210 trillion cubic feet of proven gas reserves, vast oil deposits, and a growing technology ecosystem with five unicorns.

According to him, the government has built a four-pillar incentives framework to reduce investor risk and accelerate returns, including simplified tax regimes, export-linked rebates, and five per cent annual tax credits on qualifying capital expenditure.

“The results are already visible. Our GDP growth is accelerating, our external reserves are strengthening, and inflation is moderating. This is why investor commitments are rebounding,” he told the gathering.

Shettima assured that the administration would continue pursuing policies that enhance Nigeria’s global competitiveness and sustain investor confidence.