Ajiya Ayuba
President Ahmed Bola Tinubu, told international and domestic investors that the most auspicious and convenient time to choose Nigeria as an investment destination is now.
The President said this during the opening ceremony of the two-day Bauchi State economic and investment summit, held at the newly constructed Ahmadu Bello International Conference Centre in Bauchi State. Said the nation has exited its phase of economic instability.
Tinubu, who was represented by his vice, Kashim Ibrahim Shettima. Said that the administration assumed office in 2023 with a promise to turn around the fortune of the nation’s economy that was already tottering on the edge of financial crisis, with the debt service-to-revenue ratio shooting up to about 100 percent.
He told investors and stakeholders at the two-day summit that under his administration, the debt service-to-revenue ratio has been reduced to less than 50 percent, while the GDP growth stood at 4.23 percent as of last month.
According to him, said that “Our non-oil revenues grew by 411 per cent year-on-year in the same month. Our tax-to-GDP ratio now stands at 13.5 per cent, up from barely 7 per cent a few years ago. Our debt-to-GDP ratio remains at 38.8 per cent, far below the limits set by the Fiscal Responsibility Act at 60 per cent, and those of ECOWAS and the World Bank at 70 per cent.
Adding that “Our external reserves have grown to 43 billion dollars as of September 2025. Nigeria has exited its phase of economic instability, and I assure investors present here that there is no better time to choose Nigeria,”
The reason was to remove those obstacles that had become termites in the timber of the nation’s progress, because you cannot guarantee enduring growth without stability.
“Our predecessors are here to testify to this truth. Each of them endured a fair share of obstacles and pushbacks in their efforts to introduce reforms that set the nation on the path of rediscovery and stability.”
He observed that no system can claim to be suitable for business if it cannot predict the outcome of its investment, maintaining that there can’t be a more potent treatment for a bad economy than a stable economic stimulus,” that’s why my administration embarked on bold reforms.
He said “It was this dread that inspired our bold reforms to harmonise the exchange rate regime and to dismantle the fuel subsidy structure, an avenue that had become a theatre for round-tripping and rent-seeking, where the privileged few converted the nation’s collective patrimony into their private poverty alleviation scheme.”
“We may spend eternity debating the theories of our inactions, but the truth remains that nobody builds a house in a tsunami.”
“Climate-smart agriculture, commercial outgrower schemes, and agro-processing hubs linked to national and export markets,” with its vast arable land and livestock, among other rich natural resources and cultural heritage that are capable of boosting tourism, hospitality, and the creative industries.
“The solid mineral reserves of this rich state can also enable responsible mining and downstream industrialisation through transparent tendering, geological mapping, and community benefit frameworks.
“Bauchi’s natural assets and cultural heritage can boost tourism, hospitality, and the creative industries, while its renewable energy and gas potential can power industrial clusters through public-private partnerships and off-grid solutions,” he maintained.
President Tinubu commended the inclusive leadership of Governor Bala Mohammed Abdulkadir and transformative projects that align with the Federal Government’s vision of progress and integration.
He said that the Federal Government remains resolute in its commitment to ensuring security across the nation because no economy can thrive where fear replaces freedom and where insecurity undermines enterprise.
The President assured Governor Bala of his commitment to supporting initiatives that will advance sustainable growth and national cohesion, regardless of political lines.
On his part, Governor Bala Mohammed Abdulkadir expressed his appreciation to President Bola Ahmed Tinubu for sending his vice to come and declares the 2025 Bauchi State economic and investment summit open.
He saidthat “This occasion is deeply symbolic. I am profoundly grateful to the Vice President for his presence and kind word.
The governor said that his administration is resolved to make Bauchi a hub of education, tourism, and economic prosperity.
Governor Bala Mohammed Abdulkadir said that the newly commissioned Ahmadu Bello International Conference Centre is not just a building, but a statement of intent, designed to place Bauchi at the forefront of major events in Northern Nigeria and beyond.
He assured the participants and the people of Bauchi State that the recommendations reached at the summit would be implemented.
The Governor hailed the federal government for establishing the North-East Development Commission (NEDC), which he said is driving development across the six states of the region.
He also assured investors of the safety of their lives and businesses in Bauchi, saying, “We will also utilize partnership and fight corruption to enable businesses to thrive in our state,” he said.
While the Chairman of the North East Governors’ Forum, and Borno State Governor, Babagana Umara Zulum, commended Governor Bala Mohammed Abdulkadir for convening the summit, saying Bauchi State’s potential in agriculture is the bedrock for its development.
Zulum urged investors to tap into the available resources as they invest in the state. Zulum said, “Northerners are hospitable. Mineral resources and hydrocarbons are also found here in large quantities.
The Borno State Governor, Babagana Umara Zulum said that “I believe investors will have the opportunity to play around for our future development. There is ease of doing business in Bauchi and the entire North; come and do business here.”
