Nigeria On Part Of True Economic Recovery – Shettima

Vice president of the Federal Republic of Nigeria, Senator Kashim Shettima, has stated that Nigeria is currently on the path of economic recovery.

Shettima stated that the country’s Gross Domestic Product (GDP) grew by 2.98 per cent year-on-year in real terms in the first quarter of 2024.

Speaking at the 2024 international trade Fair titled, ‘Strengthening Nigeria commercial and industrial sector through trade and investment’, Shettima said, the performance of the GDP in the first quarter of 2024 was driven mainly by the Services sector, which recorded a growth of 4.32 per cent and contributed 58.04 per cent to the aggregate GDP.

The vice president who led a team of federal government delegation to flag off the 2024 commercial and industrial trade fair in Lagos, on Friday said, all the economic policies introduced by President Bola Ahmed Tinubu led government are geared towards economic growth and stability.

The vice president, who was represented by the special assistant on Regional development, Dr. Marian Temitope Marshall, while flagging off the trade fair, charged all participants to seize the moment to forge lasting relationships in driving economic growth.

He asserted that President Bola Ahmed Tinubu’s Renewed Hope agenda is a beacon of hope that is intended to guide the nation towards a future of prosperity and sustainable development.

He noted that the government is actively working to create an enabling environment for businesses, both domestic and foreign to invest and grow.

He also disclosed that the government is looking at the following area of ,”Diversifying the economy by encouraging investment in all sectors beyond oil and gas.*Infrastructure development: invest in critical infrastructure to support industrial growth, while Entrepreneurial support: Empowering Nano, micro,small and medium (NMSMEs) to drive innovation,jobs creation and wealth.

Shettima commended the visionary leadership of the director/CEO Lagos State trade Fair complex,Barr.Veronica Ndanusa and her team for bringing back this iconic event at such a pivotal moment in the nation’s history.
In his words, “Your efforts in reviving this platform are a testament to your commitment to driving economic growth and development in Nigeria and across borders of the sores of Nigeria.”

On her part, the minister of Trade and investment, Dr. Jumoke Oduwole, assured the management of Lagos State international trade Fair complex of federal government interest in sustainability of the complex.
Oduwole said she was highly impressed with the reawakening of the over 14 years unutilised complex and commended the foresight of the management of the complex in reviving it.

Speaking earlier, the director and chief executive officer of the complex, Barr. Veronica Safiya Ndanusa said,after nearly two decades , the international trade Fair complex has now opened its doors to a vibrant community of businesses.

According to her, “this iconic venue, with its strategic location and world class facilities,provides the ideal setting for innovation, collaboration and growth”.

“This trade Fair aligns perfectly with His Excellency, President Bola Tinubu’s Renewed Hope”agenda by fostering economic growth, stimulating investment, and creating the realisation of this vision.

“We are grateful for the unwavering support of the president and his administration, which has been instrumental in making this event a reality.” She noted that the trade Fair complex offers a unique advantage to industrialists and exhibitors.

“Its strategic location and excellent infrastructure make it a hub of commercial activity. This trade Fair serves as a gateway to the West African market, offering access to a vast consumer base in ECOWAS countries. It is a platform where businesses can explore new markets, forge partnerships and drive economic growth across the region,” she said.