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Nigeria’s Economy Is Stable Again – VP Shettima Declares
Vice-President Kashim Shettima says Nigeria has exited its phase of economic instability and is now positioned as an attractive destination for global investors.
Speaking on Wednesday at the Bauchi Investment Summit 2025, Shettima said the administration of President Bola Tinubu has stabilised the economy through difficult but necessary reforms.
He said when the Tinubu administration assumed office in 2023, Nigeria’s debt service-to-revenue ratio was about 100 percent, pushing the economy to the brink.
His words: “Today, our debt service-to-revenue ratio has dropped to less than 50 percent, while GDP growth stands at 4.23 percent.
“Our non-oil revenues grew by 411 percent year-on-year as of last month, and our tax-to-GDP ratio now stands at 13.5 percent, up from barely 7 percent a few years ago.
“Our debt-to-GDP ratio remains at 38.8 percent — far below the fiscal threshold — and external reserves have grown to $43 billion as of September 2025.”
The vice-president said Nigeria’s improved fiscal performance reflects the government’s resolve to eliminate structural bottlenecks and foster economic resilience.
“You cannot guarantee enduring growth without stability. It was this conviction that inspired our bold reforms to harmonise the exchange rate regime and dismantle the fuel subsidy structure, which had become an avenue for rent-seeking and corruption,” he stated.
Shettima added that the administration’s priorities include job creation, food security, value-chain development, and harnessing the economic potential of subnational governments.
He said Bauchi State has the capacity to drive investments in agriculture, solid minerals, renewable energy, and tourism through its abundant resources and strategic location.
“The federal government remains resolute in ensuring security across the nation because no economy can thrive where fear replaces freedom,” he said.
The vice-president commended Governor Bala Mohammed for hosting the investment summit, describing it as a model for subnational economic renewal.
He urged participants to “move beyond talk and commit to concrete memoranda of understanding, set timelines, and appoint implementation teams” to ensure tangible results.
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FCT Traditional Rulers Hail Tinubu’s Developmental Strides, Confers Wike With “Light of Abuja” Chieftaincy Title(Photos)
Traditional rulers in the Federal Capital Territory (FCT) has conferred on the FCT Minister, Nyesom Wike, the Chieftaincy title of “Hasken Abuja” (Light of Abuja), in recognition of his contributions to the development of the territory.

The traditional rulers, who thanked President Bola Ahmed Tinubu, for the infrastructural development in the FCT, especially the satellite towns, asked for more recognition of the indigenous people of the federal capital.
Speaking during an appreciation visit by the FCT Stakeholders Assembly at the Federal Capital Development Authority (FCDA) Conference Hall in Abuja, the Ona of Abaji and Chairman of the FCT Council of Chiefs, Dr. Adamu Baba Yunusa, praised the administration for improving the welfare of traditional rulers and approved projects such as the construction of a new palace in Abaji.

The monarch noted that the honor recognizes Wike’s “visionary leadership” and “commitment to the development of the FCT,” specifically citing his recent approval for the construction of a new Ona Palace in Abaji, the upgrading of the status and welfare of FCT traditional rulers, and structural reforms that have restored dignity to the traditional institution.
Reading out their list of “more work for hard work,” the traditional rulers requested the provision of 17 tractors—one for each of the 17 Chiefdoms—to bolster food security for the territory’s rural agrarian communities.

They also advocated for the elevation of historically significant chiefdoms, such as Garki and Jiwa, to higher statuses.
Responding to traditional rulers demands, Wike promised to protect the interests of the indigenous people, granting several immediate requests:
He directed the Mandate Secretary for Agriculture to provide tractors for each of the 17 Chiefdoms.
Also, he instructed the Council of Chiefs to submit names for the creation of third-class traditional stools, stating, “It is not in my position to write who will be… you people should do the right thing.”

He pledged to resolve issues regarding land certificates based on the numbers submitted by the stakeholders.
”I’m now from here. For me to be the Light of Abuja, I must do everything to protect your interest,” Wike concluded, while maintaining that the FCT’s political future depends on having a “strong voice” in the National Assembly to lobby for the expansion of senatorial seats.

On the 2027 elections, the minister counselled the FCT stakeholders against electing weak or inexperienced representatives, saying that such choices could leave the territory voiceless at the National Assembly.
“The Senate is not an all-comers’ game. Experience matters, ranking matters… you must have a strong voice there,” he said.
The minister expressed concern that past representation had failed to effectively articulate the needs of the FCT, urging stakeholders to make more strategic decisions in future elections.

“You elected a senator you can’t see… a senator who cannot even organise the indigenous community to ask what their needs are,” he stated.
Wike said that repeating such mistakes would further weaken the territory’s ability to attract development and influence national policy decisions.
“If you make a mistake this time, it will be difficult for you. When it was time to help yourself, you didn’t help… don’t expect miracles,” he added as he endorsed Sen Philip Tanimu Aduda.

Beyond electoral choices, the minister linked political alignment with development outcomes, noting that the administration of President Bola Tinubu had continued to deliver infrastructure projects in the FCT despite low electoral support in the 2023 elections.
“In 2023, most of you did not give Mr. President up to six per cent, yet he has done so much for you… now that you know, do not make that mistake again,” he said.
“In 2023, most of you did not give Mr. President up to six per cent, yet he has done so much for you… now that you know, do not make that mistake again,” he said.
He disclosed that several projects, including water supply schemes in rural communities and new road networks, would soon be inaugurated as part of activities marking the President’s anniversary in office.
“Mr. President has touched virtually all the satellite towns… more roads will be constructed to open up our communities,” Wike said.
The minister also charged incoming area council chairmen to focus on governance and address pressing challenges, particularly in the education sector.
“It cannot continue that our children are at home because of strikes. Education is a first priority… without it, there cannot be development,” he emphasised.
Earlier, President of the FCT Stakeholders Assembly, Dr. Aliyu Daniel Bakna Kwali, commended the minister for ongoing reforms and infrastructural development, while presenting key demands including increased representation for the FCT at the National Assembly and the creation of additional area councils.
The event, which opened with remarks from former Federal Commissioner Dr. Aliyu Almakura Abdulkadir, underscored a new era of collaborative governance, with the traditional institution positioning itself as a central pillar in the FCT’s drive for political and economic expansion.
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Watch moment FCT minister Wike being conferred with title of Abuja Hasken, Light of Abuja by FCT Traditional Council led by Ona of Abaji (Video)
Watch moment FCT Minister, Nyesom Wike, being conferred with the title of Hasken Abuja (The Light of Abuja) today, by the FCT Traditional Council led by The Ona of Abaji, Dr Adamu Baba Yunusa.
It’s indeed a well deserved title as truly Wike brought light to the Territory.
Watch:
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BREAKING: NNPCL jerks up fuel price
The Nigerian National Petroleum Company Limited has increased the premium motor spirit price after Dangote Refinery raised its gantry price.
A market survey by DAILY POST on Thursday showed NNPCL outlets in Abuja and its environs have adjusted their petrol pump price to N1,364 per liter from N1,295. This means that the state-owned oil firm hiked petrol by N69 per liter.
The latest fuel prices have been implemented at Gwarimpa, Kubwa Expressway, Wuse Zone 6, and Zone 4 NNPCL filling stations in Abuja.
“We adjusted our pump price to N1364 per liter from N1295 this morning, an attendant said.
Filling stations in Abuja, such as MRS, BOVAS, and others, have raised their petrol price to between N1365 and N1370 per liter.
Recall that Dangote Refinery had on Wednesday increased its fuel gantry price by N75 to N1,275 per liter from N1,200 due to a hike in crude oil price to above $115 per liter.
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