Vice President Kashim Shettima has urged both domestic and international investors to capitalize on Nigeria’s improving economic outlook, warning that waiting any longer will make entry into the market far more expensive.
Speaking on Monday, August 3, 2026, at the opening of the Delta State Economic and Investment Summit 2026 in Asaba, Shettima emphasized that structural economic reforms under President Bola Ahmed Tinubu have restored macroeconomic stability and built international investor confidence.
Credit Upgrades and Competitive Federalism
Highlighting international validation of Nigeria’s economic trajectory, the Vice President pointed to recent credit rating upgrades by Fitch Ratings, S&P Global Ratings, and Moody’s.
He noted that fiscal policy overhauls—including foreign exchange liberalisation and subsidy removals—have significantly boosted federal revenue allocations to state governments, enabling localized infrastructural expansion.
“Every state possesses immense promise with its unique history, geography, people and comparative advantage. This is the race we must welcome, a race in which states compete to create employment, prosperity and human dignity.” — Vice President Kashim Shettima
Shettima specifically praised Delta State as a “first-order investment destination,” celebrating its diversification beyond crude oil into natural gas refining, blue economy maritime development, and solid minerals.
Key Financial & Investment Highlights for Delta State
- Economy Size: Estimated at approximately ₦17 trillion, ranking among Nigeria’s leading state economies.
- De-risking Fund: A dedicated $100 million Viability Gap Fund established by the state government to de-risk private investments and move projects from concepts to reality.
- Tax Incentives: Comprehensive tax relief packages, including waivers on tenement rates, levies, and charges for up to five years.
- Agricultural Land: Over 12,000 hectares of land set aside specifically for commercial agriculture.
- Maritime Infrastructure: A 163-kilometre coastline offering extensive commercial opportunities in the blue economy.
Global Leaders Back Delta’s Industrial Drive
The summit gathered heavyweight leaders across global trade, finance, and regional governance:
- Dr. Ngozi Okonjo-Iweala (DG, World Trade Organization): Urged Delta to position itself as Nigeria’s next industrial hub by integrating into global supply chains and developing the Delta Special Economic Zone.
- Prof. Chukwuma Soludo (Anambra State Governor): Noted Nigeria has transitioned from 2023 capital flight to exchange rate predictability, calling for joint economic corridors between Delta and Anambra.
- Dr. Taiwo Oyedele (Minister of Finance): Described Delta as a powerhouse for the blue economy and praised revenue expansion across sub-national governments.
- Julius Rone (CEO, UTM Gas Ltd): Announced that Delta State’s ₦42 billion equity stake in UTM Gas (purchased in 2022) is now valued at approximately ₦200 billion.
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