By Kunle Sanni –
Vice President Kashim Shettima has assured the global investment community that Nigeria is open for business and ready to partner with credible investors to bridge the country’s massive infrastructure deficit through strategic Public-Private Partnerships (PPPs).
Shettima made this declaration on Monday while declaring open the 2025 Nigeria PPP Summit at the State House, Abuja. The event, organised by the Infrastructure Concession Regulatory Commission (ICRC), brought together government officials, private sector leaders, and development partners to chart a sustainable path toward closing Nigeria’s estimated $2.3 trillion infrastructure gap.
Representing President Bola Tinubu, the Vice President said the administration recognises that building a 21st-century economy requires modern infrastructure that cannot be funded by government alone.
“We are not seeking investors to carry burdens; we are opening opportunities to create value,” Shettima said. “We want long-term partners ready to bridge our infrastructure gap with purpose, precision, and integrity.”
Highlighting reforms undertaken so far — including the removal of fuel subsidies, the liberalisation of the foreign exchange market, and efforts to boost government revenue — Shettima noted that these measures are designed to make Nigeria a more attractive destination for investment.
He added that the government has strengthened the ICRC, removed bureaucratic red tape, and aligned infrastructure development processes with global best practices.
Quoting the National Integrated Infrastructure Master Plan (2020–2043), the Vice President stated that Nigeria aims to increase its infrastructure stock from the current 30–35% of GDP to at least 70% by 2043.
“One out of every four Black people is a Nigerian. There is no African market like this,” he said, urging investors to look beyond perceived risks and focus on Nigeria’s vast market potential, which is projected to grow to 440 million people by 2050, making it the third most populous nation globally.
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