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From Juliana Taiwo-Obalonye, Abuja
Vice President, Kashim Shettima, has emphasized Nigeria’s readiness for increased investment and cross-sector collaboration, underscoring the Bola Tinubu administration’s commitment to economic transformation through bold reforms initiated since 2023.
According to a statement issued by his media aide, Stanley Nkwocha, the Vice President speaking on Monday at the Presidential Villa, Abuja, during a meeting with a VISA delegation led by Regional President for Central and Eastern Europe, Middle East, and Africa, Mr. Tareq Muhmood, said the ongoing economic reforms, though challenging, are beginning to yield tangible benefits.
“President Bola Ahmed Tinubu is determined to change the face of our nation. Today, there is a great room for expansion in the Nigerian economy. Eight out of the ten unicorns in Africa are from Nigeria,” he said, highlighting the country’s dynamic growth and its position as a continental economic leader.
Shettima pointed to progressive tax reforms, restored fiscal discipline, and a steadily growing foreign reserve as clear indicators that Nigeria has “crossed the rubicon” toward sustainable growth. He urged VISA to deepen its investment footprint by leveraging Nigeria’s large unbanked population, particularly through partnerships with indigenous fintech firms.
He also stressed the importance of digital payment systems as pivotal to the future of commerce across Africa, noting their potential to enhance transparency and curb corruption.
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In response, Muhmood praised the Tinubu administration’s reforms, particularly those affecting the oil and gas sector, foreign exchange, and tax administration, for revitalizing the Nigerian economy. He announced VISA’s intention to expand its investments and actively support programs that positively impact livelihoods across sectors in Nigeria.
The meeting was also attended by VISA’s Senior Vice President and Head of Western and Central Africa, Aminata Kane; Vice President and Head of West Africa, Andrew Uaboi; and Senior Director and Head of Government Affairs, Chidozie Arinze.
This engagement signals growing confidence in Nigeria’s economic reforms and the increasing role of digital financial services in driving inclusive growth throughout Africa.
