Vice President commends Soludo’s support for economic reforms as Delta unveils $100m investment fund.
Vice President Kashim Shettima has defended the economic reforms of President Bola Tinubu’s administration, saying they have strengthened Nigeria’s economy and increased the country’s foreign reserves to about $52 billion.
Shettima made the remarks on Monday at the Delta Economic and Investment Summit in Asaba, where he commended Anambra State Governor Chukwuma Soludo for publicly supporting the Federal Government’s reform agenda.
“Professor Soludo, you have done a lot of things for the Federal Government, especially by informing Nigerians where we are coming from,” the vice president said.
“From reserves of $3bn, when we were experiencing capital flight and capital scarcity. Now, we are experiencing capital inflows, so that our foreign reserves have gone up to about $52bn and counting in a turbulent world, mind you. I think the President deserves commendation and not condemnation.”
Shettima also praised Soludo for his position during the 2023 general elections, describing him as a leader who stood “against the wind.”
The vice president said the growing number of investment summits across the country reflects healthy competition among states, adding that improved allocations have given sub-national governments a stronger financial base to attract investments.
At the summit, Delta State Governor Sheriff Oborevwori announced that his administration had set aside $100 million, equivalent to about ₦133.8 billion, as viability gap funding to de-risk investments in the state.
He also disclosed that the state had earmarked more than 12,000 hectares of farmland for agricultural development, inviting investors to explore opportunities in cassava, rice, oil palm, potato and other cash crop value chains.
Oborevwori further highlighted Delta State’s one-to-three-kilometre coastline as a major asset for developing a thriving marine economy.
The Delta Economic and Investment Summit is designed to deepen investor confidence, promote strategic partnerships and attract both domestic and foreign direct investment into the state.