Shettima Urges Healthy Competition Among States to Drive Nigeria’s Economic Growth
Vice President Senator Kashim Shettima has called for healthy competition among Nigeria’s 36 states, describing it as a key driver of economic growth, job creation, prosperity and improved living standards.
Shettima made the call on Monday in Asaba, Delta State, while speaking at the Delta State Economic and Investment Summit 2026, where he commended the growing number of investment summits being organised by states across the country.
According to the Vice President, the quality and ambition of these summits demonstrate an emerging economic awakening at the subnational level, stressing that Nigeria’s development should not depend solely on the Federal Government.
“This is the race we must welcome: a race that proclaims growth rather than conflict, a race in which the prize is employment, prosperity and human dignity, a race for the future,” he said.
Shettima urged state governments to move beyond documenting their assets and comparative advantages and focus on turning those opportunities into investments, enterprises and jobs.
He noted that every state has unique economic strengths shaped by its history, geography, people and resources, adding that the healthy rivalry among states could enable Nigeria to unlock the full potential of its diverse economic base.
The Vice President attributed the increasing investment activities among states partly to the economic reforms of President Bola Ahmed Tinubu, which he said had strengthened the fiscal position of subnational governments and increased resources available for development.
He said the administration’s economic reset had created a stronger foundation for states to pursue their respective development agendas.
Shettima also recalled the Tinubu administration’s commitment to putting Nigeria on a path of sustainable growth, describing the various investment summits as platforms for transforming that commitment into concrete economic opportunities.
Highlighting the diverse investment potential across the country, he noted that while some states are focusing on agriculture, others are leveraging minerals, technology, ports, energy and tourism.
“In that healthy rivalry, Nigeria discovers the full measure of her wealth,” he said.
The Vice President said Nigeria’s economic trajectory was receiving positive signals from international rating agencies, including Fitch, S&P and Moody’s, which he described as evidence of the country’s changing economic direction.
He particularly commended Delta State Governor Sheriff Francis Orohwedor Oborevwori for what he described as a bold effort to reposition the state and create a platform that reflects the aspirations of its people.
According to Shettima, Delta State’s economic potential extends beyond its oil wealth, stressing the importance of diversification.
He described diversification as an essential component of economic resilience, noting that while natural resources could finance development, sustainable prosperity ultimately depends on ideas, strong institutions and enterprise.
“A government that prepares for life beyond oil understands that resources may finance progress, but only ideas, institutions and enterprise can sustain it,” he said.
Shettima assured investors, entrepreneurs, financiers, innovators, captains of industry and development partners that the Federal Government would continue to support credible investments, strengthen institutions and work with state governments to remove barriers to enterprise.
Oborevwori: Summit Will Connect Ideas With Capital
Earlier, Governor Oborevwori said the investment summit was part of efforts to attract investments and maximise Delta State’s comparative economic advantages.
He recalled leading members of his cabinet to China and Brazil in the previous year to explore investment opportunities for the state, describing the summit as an avenue to connect ideas with capital and transform opportunities into tangible development.
He thanked Vice President Shettima for attending the summit and commended his contribution to Nigeria’s economic development.
Governor Oborevwori also highlighted the importance of partnerships in unlocking Delta’s economic potential and creating opportunities for its people.
Soludo Calls for More Foreign Capital
Governor of Anambra State, Professor Charles Soludo, expressed solidarity with Governor Oborevwori and said Nigeria had achieved greater macroeconomic stability.
However, Soludo stressed that Nigeria would require significant foreign capital to accelerate development. He also called for stronger networking among investors and stakeholders, observing that the ultimate objective of investment summits should be the actualisation of viable business deals.
Okonjo-Iweala Highlights Global Opportunities
Director-General of the World Trade Organization, Dr Ngozi Okonjo-Iweala, congratulated Governor Oborevwori on the state’s development initiatives and noted that global economic disruptions had also created opportunities that Delta State, Nigeria and Africa could leverage.
She called for fiscal prudence, reduced trade costs, improved execution of development projects and a stronger maintenance culture across the country.
Oyedele: States Must Translate Revenues Into Development
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said state and local governments were benefiting from increased revenues under the Tinubu administration.
He urged governments, businesses and entrepreneurs to play complementary roles in transforming the country’s improved fiscal position into sustainable economic growth and shared prosperity.
Elumelu Pledges Support for Delta
Founder and Chairman of Heirs Holdings, Tony Elumelu, congratulated Governor Oborevwori on his efforts to make Delta more attractive to investors.
Elumelu described the state as increasingly safe and investment-friendly and pledged to partner with the state government, particularly in efforts to improve access to affordable electricity.
Lumumba Urges Africa to Maximise Its Resources
Guest Speaker, Professor P.L.O. Lumumba, called for greater utilisation of Africa’s natural and human resources, urging African countries to establish mutually beneficial partnerships with foreign nations.
He advocated a shift from dependency towards partnerships in which African countries participate actively as investors while engaging countries such as China, Brazil, Europe and the United States as strategic partners.
The Delta State Economic and Investment Summit ultimately brought together government leaders, investors, business executives, development partners and other stakeholders around a common objective: turning Nigeria’s vast economic potential into investment, jobs, prosperity and sustainable development.
Shettima Urges Healthy Competition Among States to Drive Nigeria’s Economic Growth