Vice President Kashim Shettima has declared that Nigeria possesses all the ingredients needed to become one of the world's leading economies, insisting that the country "has no business being poor" despite its abundant natural resources and youthful population.
Shettima made the remarks while speaking on the need for sustained economic transformation, improved governance, and strategic investments capable of unlocking Nigeria's vast economic potential.
According to the Vice President, Nigeria's economic challenges are not rooted in a lack of resources but in the need for more effective management, stronger institutions, innovation, and long-term planning.
He stressed that with its large population, fertile agricultural land, mineral deposits, entrepreneurial citizens, and strategic position in Africa, Nigeria has every opportunity to achieve sustainable economic growth if these assets are properly harnessed.
Shettima noted that the administration of President Bola Ahmed Tinubu remains committed to implementing reforms designed to reposition the economy, improve investor confidence, and create opportunities for businesses and young people.
He said government policies are focused on building an economy that encourages productivity, supports industrialisation, and expands employment opportunities across critical sectors.
The Vice President also highlighted the importance of collaboration between the public and private sectors, describing private investment as a major driver of economic development and national prosperity.
According to him, government alone cannot deliver the level of transformation Nigeria requires without meaningful participation from investors, entrepreneurs, development partners, and citizens.
He urged Nigerians to embrace innovation, entrepreneurship, technology, and skills development as essential tools for driving inclusive economic growth and reducing unemployment.
Shettima further stated that strengthening infrastructure, improving education, enhancing food security, and supporting manufacturing remain key priorities for achieving long-term national development.
He expressed confidence that ongoing reforms would lay the foundation for a more resilient economy capable of withstanding global economic shocks while delivering improved living standards for Nigerians.
The Vice President acknowledged that recent economic reforms have presented short-term challenges for many households and businesses. However, he maintained that such measures are intended to create a stronger and more sustainable economy over time.
He reiterated the Federal Government's commitment to creating an enabling environment where businesses can thrive, investments can grow, and innovation can flourish across all sectors.
Economic analysts have long argued that Nigeria's abundant oil and gas reserves, expanding digital economy, agricultural potential, and youthful workforce position the country for significant growth if supported by sound fiscal policies, infrastructure development, and transparent governance.
Beyond oil, experts continue to identify agriculture, manufacturing, mining, technology, renewable energy, and the creative industry as sectors capable of driving economic diversification and reducing dependence on crude oil revenues.
Shettima emphasised that achieving meaningful development requires accountability, responsible leadership, and collective efforts from government institutions, the private sector, and citizens.
He called on Nigerians to remain optimistic about the country's future, expressing confidence that consistent reforms and national unity would help unlock Nigeria's enormous economic potential.
Nigeria remains Africa's largest economy by several measures and has one of the continent's biggest populations, making economic performance a critical issue for millions of citizens.
Vice President Shettima's remarks reinforce the government's message that economic reforms, improved governance, private-sector investment, and better resource management are central to achieving sustainable development.
The statement also highlights the importance of diversifying the economy beyond oil, creating jobs for young Nigerians, attracting foreign investment, and improving living standards across the country.
Vice President Kashim Shettima's assertion that Nigeria "has no business being poor" underscores the country's immense economic potential and the Federal Government's push for reforms aimed at driving long-term growth. While challenges remain, the administration believes that prudent management of resources, stronger institutions, and sustained investment can position Nigeria for greater prosperity and inclusive national development.