KEY POINTS
- Shettima says Tinubu has taken the bullet for making painful but necessary economic decisions.
- He told the Invest Lagos 3.0 summit that a trillion-dollar economy needs enterprise and reform.
- The VP praised Lagos as Nigeria’s economic gateway and a model of subnational leadership.
Vice President Kashim Shettima on Monday said Nigeria’s ambition to build a one-trillion-dollar economy rests on enterprise, investment and coordinated reforms across all levels of government. Speaking as he opened the Invest Lagos 3.0 Summit at Eko Hotel and Suites in Victoria Island, Lagos, he said President Bola Tinubu had borne the consequences of painful economic decisions taken in the national interest.
‘Leadership requires hard decisions’
According to Shettima, the president “has taken the bullet” for tough choices because the country cannot build its dream economy on illusions. “If you want to be a nice man, you can go and sell ice cream, but leadership requires you taking very harsh decisions,” he said. Moreover, he argued that Nigeria’s economic future depends on creating conditions that let capital, innovation and productive enterprise thrive.
Furthermore, the Vice President reaffirmed the administration’s economic agenda, saying recent macroeconomic reforms deliberately aim to restore market confidence, improve fiscal sustainability and unlock large-scale private investment. He acknowledged that some decisions have proved difficult, yet he maintained that sustainable prosperity demands structural discipline and economic realism. “It must be built on productivity, discipline, competitiveness, and the courage to create a climate in which enterprise can breathe,” he said.
Lagos as the economic gateway
Shettima singled out Lagos as the clearest example of how subnational leadership can accelerate national transformation. Notably, he credited Tinubu with laying the foundation of the Lagos development model, describing it as a governance tradition that has created continuity and positioned the state as a continental economic force.
While addressing policymakers, global investors and business leaders, the Vice President said Lagos remains Nigeria’s foremost economic gateway and one of Africa’s most influential centers for commerce. “Lagos is the livewire of our continent. Lagos is the furnace in which our ideas are tested against the discipline of execution,” he said.
Similarly, he linked the city’s growth to long-term planning and governance reforms sustained since Nigeria’s return to democracy, and he commended Governor Babajide Sanwo-Olu for maintaining that momentum. Referring to the summit’s theme, “Lagos: The Business Gateway to Africa,” Shettima said cities increasingly shape supply chains, innovation networks and investment flows. Ultimately, he said Lagos keeps attracting investors through its access to markets, infrastructure, talent and financial opportunities.
