Vice President Kashim Shettima has defended the economic reforms introduced by President Bola Ahmed Tinubu, saying the administration’s vision of building a one-trillion-dollar economy requires difficult but necessary decisions.
Speaking at the Invest Lagos 3.0 Summit in Lagos, Shettima said the President had borne the political consequences of implementing reforms aimed at restoring economic stability and creating conditions for long-term growth.
According to the Vice President, sustainable economic development cannot be achieved through short-term measures or unrealistic expectations but must be built on productivity, competitiveness, fiscal discipline and investment-driven growth.
He noted that the administration’s reforms are designed to strengthen market confidence, improve fiscal sustainability and attract large-scale private sector investment.
Shettima described Lagos State as a model for economic transformation, citing its record of institutional continuity, long-term planning and governance reforms.
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He credited President Tinubu with laying the foundation for the state’s development trajectory and praised Governor Babajide Sanwo-Olu for sustaining its growth momentum and investment appeal.
The Vice President said Lagos has evolved beyond its role as Nigeria’s commercial hub to become one of Africa’s leading centres for business, innovation and investment.
He also highlighted the growing role of cities in driving global economic activity, noting that Lagos continues to attract investors due to its market size, infrastructure, talent pool and financial opportunities.
Reaffirming the Federal Government’s economic agenda, Shettima said recent reforms were introduced to create a more resilient economy capable of supporting enterprise, innovation and sustainable prosperity.
The Invest Lagos 3.0 Summit brought together policymakers, investors, entrepreneurs, development institutions and business leaders to discuss opportunities for economic growth and investment in Lagos and Nigeria.
