Shettima: Regimes Of Volatile, Unpredictable Economy Now Over

* Says Tinubu working hard to tickle down macro-economic gains to the people

* Declares open Digital Nigeria international conference and exhibition 2025 

Deji Elumoye in Abuja 

Vice-President Kashim Shettima has said the administration of President Bola Tinubu has succeeded in putting an end to the regimes of volatility and unpredictability that once characterised Nigeria’s economy. 

According to him, global economic uncertainties “shocks, shifting alliances, and the rapid displacement of traditional jobs by emerging technologies” have compelled the administration to act daringly.

The vice-president, who disclosed this on Tuesday in Abuja when he declared open the Digital Nigeria International Conference and Exhibition 2025, noted that the ongoing reforms undertaken by the Tinubu administration are already stabilising the economy, just as they have inspired investor confidence and attracted commendation from independent observers.

Citing Fitch upgrade of Nigeria’s sovereign rating to B with a stable outlook, and Moody’s lifting of the nation’s issuer rating to B3 with a stable outlook as instances of the global acclaims the country is getting, Shettima said: “The world is taking note of the steady course the nation is maintaining.

“What this administration has achieved is to end the regimes of volatility and unpredictability that once defined our economy. The phase before us now is to ensure that these macroeconomic gains trickle down to the people, from the kiosks of our neighbourhood traders to the boardrooms of our multinational corporations. 

“We did what we have done because we can no longer apply 20th-century solutions to 21st-century problems.” He expressed delight with the conference and exhibition, saying it is an “affirmation of innovation for a sustainable digital future that accelerates growth, inclusion and global competitiveness”.

He observed that the vision of the conference and exhibition with the theme, ‘Innovation for a Sustainable Digital Future: Accelerating Growth, Inclusion, and Global Competitiveness,’ aligns perfectly with President Tinubu’s economic reform agenda because the future the administration is building “is one where the young Nigerian takes the front seat, sits at the decision-making table, and has a voice in shaping our destiny”.

The vice-president stated that the watchword for Nigeria’s long-term stability is digital, noting however that the nation must set its priorities right if it “must move beyond the ‘quick wins’ of simple apps to building deep-tech solutions that address foundational challenges in agriculture, health, logistics and governance”.

“We need a digital ecosystem that works as seamlessly in Lagos as it does in Abuja, in Port Harcourt, in Kano, in Gusau, and across every corner of our nation. The digital success we seek is one where the farmer in Bida can access real-time market data to sell his harvest at a fair price, where a young woman in Oguta can work remotely for a global company because she has connectivity and the skills to compete. That is the inclusive growth President Tinubu envisions,” he added.

Shettima pointed out that Nigeria cannot keep lamenting its “absence at the table in the previous Industrial Revolutions” when the current digital wave has offered the nation “a redemptive opportunity to define its own terms in the next chapter of global progress”.

“And at the forefront of this ambition stands a man of a thousand visions, the progressive leader we are fortunate to have as president of this beloved nation at a time that demands reformers and patriots, President Bola Tinubu,” he maintained.

The vice-president outlined three pillars on which the strategy adopted by the Tinubu administration rests to include “People, Infrastructure and Policy”.

On people, he said: “We are building a holistic pipeline of digital talent, integrating digital literacy into school curricula, promoting inclusion through the Digital Literacy for All (DL4ALL) initiative to digitise the informal sector and developing world-class expertise through the 3 Million Technical Talent (3MTT) programme.

“On Infrastructure, we are constructing the broadband ‘superhighway’ that powers a digital economy. Through projects like Bridge and 774, we are ensuring high-speed connectivity so that a startup in Gusau enjoys the same access as one in Lagos.

“On Policy, we are creating an enabling environment that encourages innovation. The success of our cashless reforms has positioned Nigeria as one of the most dynamic fintech ecosystems in the world.”

Shettima disclosed that the administration was already in the advanced stages of passing the National Digital Economy and e-Governance Bill into law, saying: “Just as the cashless policy unlocked the fintech revolution, this new Bill will unlock the GovTech revolution, an era of smarter governance, greater transparency and inclusive service delivery.”

He solicited the support of the private sector, including economic experts, stating that the government cannot achieve its goal without them, just as he described them as the pillar of the nation’s digital economy, as well as “the innovators, the disruptors, the dreamers who turn possibilities into progress”.

Earlier, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, said enabling digital policies being implemented by the Tinubu administration are on course to boost the country’s digital infrastructure.

He invited relevant stakeholders to use the platform to deepen collaboration so that Nigeria can stand as a global model for technology adaptation for shared prosperity.

Also speaking, the Director-General of NITDA, Kashifu Inuwa Abdullahi, applauded the vice-president for his support, commitment, and for always championing the cause of Nigerian youths, noting that such inspirational leadership is deeply rooted in President Tinubu’s Renewed Hope Agenda.

He assured the audience that the collective ambition of the Federal Government, which is to engage the youth and provide platforms that empower them to solve the nation’s challenges, will continue to be pursued to fruition. 

In the same vein, the CEO of the Nigeria Data Protection Commission (NDPC), Dr. Vincent Olatunji, acknowledged the increasing adoption of technology, particularly the use of multiple devices by the global population, highlighting the huge socio-economic potential of the global digital economy.

He emphasized the need for Nigeria to take its rightful place in the digital sector, noting that there is a need to harness the country’s digital potential through collaboration, interaction and innovation.

​  

  • Related Posts

    NCC Begins Review of Regulatory Guidelines on Licensing, Enforcement Processes, Internet Code of Practice

    NCC Begins Review of Regulatory Guidelines on Licensing, Enforcement Processes, Internet Code of Practice

    Oghenevwede Ohwovoriole in Abuja 

    The Nigerian Communications Commission (NCC) has begun the process of reviewing three regulatory guidelines, including licensing, enforcement processes and Internet Code of Practice.

    The Executive Vice-Chairman (EVC), Dr. Aminu Maida, who disclosed this, stated that the commission had begun the review of the three regulatory guidelines to meet up with the evolving trends in the communication industry.

    Represented at a public inquiry by the Executive Commissioner, Stakeholder Management, NCC, Rimini Makama, the EVC said the legislations under review play a vital role in ensuring that the communications sector remains viable.

    He said: “The revised Internet Code of Practice, which is set to metamorphose into a guideline, reflects our evolving digital landscape and aims to safeguard the rights of users while ensuring that service providers uphold the highest standards of ethical and technical conduct.

    “It introduces robust provisions, including open internet access, cybersecurity and data protection, use of Artificial Intelligence by operators, child online safety, network governance and anti-spam measures.”

    On the enforcement of process regulations, he noted that: “As the industry advances and the globe metamorphoses into a converged market, there is a need to update enforcement measures that are not as limited but provide for regulation through a wider scope.”

    Speaking on the third regulation, he stated that licensing is at the core of the activities of the commission mandating it to issue a licence to any operator intending to provide any communications service in Nigeria. 

    “In view of current trends and the evolution of digital tools and instruments, there is a need to refine this regulation in order to accommodate these advancements. 

    “The revised licensing regulations streamline the licensing process, clarify obligations, and introduce new provisions on general authorisations, renewal of licences, corporate restructuring and transfers, sanctions and enforcement mechanisms. These changes are designed to promote ease of doing business, encourage innovation and ensure regulatory clarity,” he said.

    The Head, Legal and Regulatory Services (LRS), NCC, Mrs. Chizua Whyte, who was represented by the Deputy Director, LRS, said: “The Nigerian Communications Commission is empowered through the Nigerian Communications Act 2003 to develop and amend regulatory instruments as part of its governance and regulation of the Nigerian Communications Sector. 

    “To this effect, several significant amendments and introductions have been made to a few instruments which will be reviewed during this public inquiry, as a key ingredient of the participatory approach of the Nigerian Communications Commission.” 

    The communications industry is undergoing significant transformation in this digital era— an era characterised by rapid technological innovation and the emergence of new paradigms that continue to redefine global connectivity.

    ​  

    Oghenevwede Ohwovoriole in Abuja  The Nigerian Communications Commission (NCC) has begun the process of reviewing three regulatory guidelines, including licensing, enforcement processes and Internet Code of Practice. The Executive Vice-Chairman

    Read more

    Nigeria Begins 2025 Oil Licensing Round December

    Nigeria Begins 2025 Oil Licensing Round December

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2025 Licensing Round, effective December 1, 2025.

    The NUPRC Chief Executive (CCE), Mr. Gbenga Komolafe, made the announcement at the NUPRC’s Project One Million Barrels Per Day (1MMBOPD) Additional Production Investment Forum in London on Tuesday.

    Komolafe, in a statement by NUPRC’s Head of Media and Strategic Communication, Eniola Akinkuotu, said the announcement was in line with the Petroleum Industry Act (PIA 2021).

    He said the announcement followed the approval of President Bola Tinubu who doubles as the Minister of Petroleum Resources.

    “We are announcing that we are ready, following the approval of the Minister of Petroleum Resources in line with the PIA to commence the 2025 licensing round beginning from December 1, 2025,” the CCE said.

    At the forum, which was attended by the chief executive officers of oil companies, bank representatives and potential investors, he said funding remained the biggest challenge in Nigeria’s upstream sector.

    According to him, the commission as a business enabler has planned to tackle challenges by connecting interested parties.

    He, therefore, said the event was put together to connect all stakeholders in order to make the additional one million barrels a reality.

    “One of the factors that affected business is that activities were happening in silos but the NUPRC now realises the need to bring everyone together.

    “We want you all to network. Bank of America is here as well as representatives of other banks,” he said.

    Komolafe said the reforms initiated by the President Tinubu’s administration had improved Nigeria’s economic metrics.

    He said crude production now averaged 1.71mbpd with a peak daily output of 1.83mbpd, evidence of tangible progress.

    The CCE said 46 Field Development Plans had been approved from January 2025 till date, representing immediate investment commitments and production growth potential.

    He said the rig count had grown to over 60 out of which at least 40 were active.

    He disclosed that this was the best time for existing investors to deepen their stake in Nigeria.

    “The drive to reach and sustain one million barrels per day in incremental capacity and beyond will require Floating Production, Storage and Offloading units for cluster developments.

    “It will require Floating Storage and Offloading vessels for crude evacuation and storage; and a variety of Modular Offshore Production Units and Early Production Facilities to enable early production and accelerated monetisation.

    “All these need investments and the prospects are here in Nigeria,” he added.

    Speaking earlier, the Chairman, House of Representatives Committee on Petroleum Resources (Upstream), Mr. Alhassan Doguwa, promised investors that his committee would not push any legislation that would undermine investments.

    Doguwa, while saying that the Petroleum Industry Act, 2021 would not be tampered with arbitrarily, reaffirmed the House of Representatives’ commitment to resist any arbitrary changes that would undermine investments.

    His counterpart in the Senate, Senator Eteng Williams, also promised investors that Nigeria’s legislature would continue to pass business-friendly laws and urged investors not to fret. (NAN)

    ​  

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2025 Licensing Round, effective December 1, 2025. The NUPRC Chief Executive (CCE), Mr. Gbenga Komolafe, made the

    Read more

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Business & Economy

    Shettima: New digital economy bill will unlock Nigeria’s GovTech revolution 

    Shettima: New digital economy bill will unlock Nigeria’s GovTech revolution 

    FG Commends Zedcrest for Pivotal Role in Nigeria’s FATF Grey List Exit  

    FG Commends Zedcrest for Pivotal Role in Nigeria’s FATF Grey List Exit  

    Nigeria unveils Talent Accelerator to close skills gaps and drive economic development  

    Nigeria unveils Talent Accelerator to close skills gaps and drive economic development  

    AI Innovation Centre bill in Ekiti passes second reading in Senate

    AI Innovation Centre bill in Ekiti passes second reading in Senate

    Wale Edun to Stockbrokers: “We have heard you on Capital Gains Tax”

    Wale Edun to Stockbrokers: “We have heard you on Capital Gains Tax”

    NGX bleeds: Stocks lose N4.6 trillion as sell-off hits blue-chip stocks 

    NGX bleeds: Stocks lose N4.6 trillion as sell-off hits blue-chip stocks 

    Senate confirms Agbaje as PENCOM Chairman, approves new board members 

    Senate confirms Agbaje as PENCOM Chairman, approves new board members 

    No, your FG, State bonds income won’t be taxed in 2026 – here’s what the new law actually says 

    No, your FG, State bonds income won’t be taxed in 2026 – here’s what the new law actually says 

    Abbey Mortgage Bank signals strong liquidity and credit stability with new A3 rating 

    Abbey Mortgage Bank signals strong liquidity and credit stability with new A3 rating 

    PZ Cussons proposes N98 million Director pay ahead of AGM 

    PZ Cussons proposes N98 million Director pay ahead of AGM 

    Nigeria data centre capacity to hit 218MW by 2030 — Report

    Nigeria data centre capacity to hit 218MW by 2030 — Report

    Education Innovator, Anita Dagor wins N1m Unilever Nigeria Grant at 24th WIMBIZ Conference  

    Education Innovator, Anita Dagor wins N1m Unilever Nigeria Grant at 24th WIMBIZ Conference  

    NUPRC announces 2025 oil licensing round to begin December 1 

    NUPRC announces 2025 oil licensing round to begin December 1 

    Clean energy capital to Nigeria, other developing countries rises to $21.57 billion — UNFCCC 

    Clean energy capital to Nigeria, other developing countries rises to $21.57 billion — UNFCCC 

    InfraCredit’s Guarantee, supported by UK-Funded Climate Finance Blending Facility, mobilises local currency debt for CEESOLAR’s Off-Grid energy project in Nigeria 

    InfraCredit’s Guarantee, supported by UK-Funded Climate Finance Blending Facility, mobilises local currency debt for CEESOLAR’s Off-Grid energy project in Nigeria 

    Vehicle registration costs in Nigeria surge to N140,000 in 2025 

    Vehicle registration costs in Nigeria surge to N140,000 in 2025 

    Dangote Fertilizer partners Firm to license and build 4 plants in Lekki

    Dangote Fertilizer partners Firm to license and build 4 plants in Lekki

    Basic strategies to invest in NGX stocks in 2025 

    Basic strategies to invest in NGX stocks in 2025 

    The First Radio Signal From Comet 3I/Atlas Ends the Debate About Its Nature

    The First Radio Signal From Comet 3I/Atlas Ends the Debate About Its Nature

    The EPA Is in Chaos

    The EPA Is in Chaos

    This Bluetooth Speaker Is Also a Charging Hub, and It’s Discounted to $130

    This Bluetooth Speaker Is Also a Charging Hub, and It’s Discounted to $130

    If the US Has to Build Data Centers, Here’s Where They Should Go

    If the US Has to Build Data Centers, Here’s Where They Should Go

    OnePlus Promo Code: $100 Off | November 2025

    OnePlus Promo Code: $100 Off | November 2025

    Vimeo Promo Codes and Deals: Save Up to 40%

    Vimeo Promo Codes and Deals: Save Up to 40%

    Vitamix Promo Codes and Deals: $25 Off + Free Shipping

    Vitamix Promo Codes and Deals: $25 Off + Free Shipping

    B&H Photo Promo Codes and Deals for November 2025

    B&H Photo Promo Codes and Deals for November 2025

    1Password Coupon: Score a Free Trial in November

    1Password Coupon: Score a Free Trial in November

    $50 Target Coupon & Promo Codes | November 2025

    $50 Target Coupon & Promo Codes | November 2025

    NAFDAC orders ban of sachet alcohol and bottles below 200ml from December 2025 

    NAFDAC orders ban of sachet alcohol and bottles below 200ml from December 2025 

    New Zealand adopts national occupation list for work visa applications 

    New Zealand adopts national occupation list for work visa applications 

    Elumelu embarks on Pan-African Tour championing entrepreneurship, infrastructure, and inclusive growth 

    Elumelu embarks on Pan-African Tour championing entrepreneurship, infrastructure, and inclusive growth 

    National Digital Economy Bill may cause regulatory overlap in ICT sector—ALTON  

    National Digital Economy Bill may cause regulatory overlap in ICT sector—ALTON  

    Agbakoba proposes reforms to unlock ‘₦1.5 Quadrillion economy’, stabilise naira

    Agbakoba proposes reforms to unlock ‘₦1.5 Quadrillion economy’, stabilise naira

    NGX SWOOTs crash to N83.34 trillion after losing N2.75 trillion in 6 trading sessions of November 

    NGX SWOOTs crash to N83.34 trillion after losing N2.75 trillion in 6 trading sessions of November 

    Gold regains shine, rebounds above $4,100 as trade uncertainty looms 

    Gold regains shine, rebounds above $4,100 as trade uncertainty looms 

    Central Bank of Nepal approves LemFi partnership with Esewa for enhanced remittances 

    Central Bank of Nepal approves LemFi partnership with Esewa for enhanced remittances