Lawrence Olaoye 
…as Gluwa plans to invest $100m, Ericsson to build $19m tech hub in Nigeria
Vice President Kashim Shettima has received commitments from several investors from Sweden to invest multi million dollars in the nation’s digital economy, health and other critical sectors.
This was in furtherance of the investment drive of President Bola Tinubu’s administration.
According to a release by his spokesman, Stanley Nkwocha, the assurance of investments from the international businessmen followed Shettima’s assurance at a business meeting with Swedish businesses in Stockholm that they could now take unfettered advantage of Nigeria’s ever-growing investment climate currently providing limitless opportunities for serious investments.
According to him, the Nigerian government, under President Bola Tinubu, has undertaken bold reforms that were restructuring the nation’s economy for sustainable growth, just as the administration’s Renewed Hope Agenda was focused on a competitive business environment that attracts both foreign and domestic investments.
Speaking at Epicenter, Stockholm, Sweden, where he is currently on a two-day working visit aimed at boosting trade and bilateral relations between both nations, Shettima noted that Nigeria and Sweden have a time-honored history of cooperation, particularly in trade, technology, and sustainable development.
He cited opportunities that abound in Nigeria, including the digital economy, agriculture, renewable energy, and MSMEs, among many others, pointing out that the nation was “an ambitious nation, bound by the limitless potential of the Fourth Industrial Revolution.”
Employing every negotiation skill at his disposal to woo investors at the business forum with the theme, “Trade and Investments with a Focus on the Digital Economy, Agriculture, and Renewable Energy,” the Vice President assured that the Tinubu administration has done much within the last year to brighten Nigeria’s investment climate, creating vast investment opportunities.
He stated: “Under the leadership of His Excellency, President Bola Ahmed Tinubu, the Nigerian government has introduced bold financial reforms, including the unification of exchange rates and the removal of fuel subsidies.
Though challenging, these reforms were necessary steps in restructuring the economy for sustainable growth, he said.
“The government’s ‘Renewed Hope Agenda’ emphasizes creating a competitive business environment that attracts both foreign and domestic investments. In parallel, our financial sector reforms, such as the revised Cashless Policy and Open Banking Framework, have revolutionized banking services, promoting financial inclusion and providing innovative financial products.”
Identifying digital economy, agriculture, and renewable energy as global priorities and the direction in which Nigeria was headed, the Nigerian Vice President said these sectors were crucial to addressing pressing global challenges such as food security, climate change, and economic growth.
Imploring Swedish investors to avail themselves of the business opportunities that abound in Nigeria, he said, “Distinguished guests, ladies and gentlemen, there is tremendous potential for collaboration between Nigeria and Sweden across multiple sectors.
“Whether in finance, renewable energy, digital innovation, agriculture, or education, our partnership holds the promise of immense benefits for both nations.
“I urge Swedish investors to seize the opportunities in Nigeria and work with us to build a prosperous and sustainable future,” he stressed.
Shettima recalled that trade between Nigeria and Sweden grew by 30% in 2022, informing a greater need for deeper collaboration between both nations.
“This momentum calls us to come together and create a favorable business environment for the expansion of goods and services, from digitalization to access to specialists,” he said.
