Why we’re growing Nigerian economy to $1trn – Shettima
Vice-President Kashim Shettima says the current administration is on the journey to grow Nigerian economy to $1trillion within the next decade.
To achieve the target, the VP said sound policies and enduring partnerships and the insights of brilliant minds will serve as driving forces.
He spoke in Lagos at the 2025 Conference of the Africa and Middle East Depositories Association.
The conference was jointly organised by AMEDA and the Central Securities Clearing System (CSCS) Plc, under the theme “Shaping the Future: Financial Markets Infrastructures as Catalysts for Transforming Economies.”
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AMEDA is the umbrella body for the Central Securities Depositories and Clearing Houses collectively referred to as Financial Market Infrastructures operating across Africa and the Middle East.
In his address, Shettima emphasised the administration’s committment to strengthening Nigeria’s financial market infrastructures through a deliberate blend of regulation, reform, capital market development strategies, and robust public-private collaboration.
Represented by the Special Adviser to the President on Economic Matters, Tope Fasua, the Vice President said President Tinubu’s agenda is anchored in inclusive finance principles and designed to deliver tangible public value.
“In Nigeria, we’re on an ambitious journey to grow our economy to $1trn within the next decade. Achieving this vision requires not only sound policies but also enduring partnerships and the insights of brilliant minds like yours gathered here today. Let this gathering inspire us to build financial systems that are efficient, inclusive and future-proof.
“At the heart of this transformation lies the indispensable role of financial market infrastructures, depositories, clearing houses, payment systems and digital platforms that sustain trust, enable transparency, and provide the liquidity our markets require.
“In His Excellency, President Bola Tinubu, you have not only found an ally in market reform, but also a steward of economic stability. Our administration is committed to strengthening Nigeria’s financial market infrastructures through a deliberate blend of regulation, reform, capital market development strategies, and robust public-private collaboration from broadening participation in our capital markets to increasing access to finance for MSMEs and start-ups, and financing infrastructure through green bonds, social bonds and sukuk,” he said.
He asked capital markets in Africa to to embrace digital transformation and deepen regional integration to establish a financial system that is more efficient and accessible.
“This is particularly urgent and promising in Africa and the Middle East, where the convergence of demographic strength, digital ambition, and bold policy reform is laying the foundation for transformative growth. The African Continental Free Trade Area Agreement marks a defining moment, with the potential to unite 54 countries into a single market of over 1.4 billion people,” he said.
The Chairman of AMEDA, Abdulla Abdin, emphasised the role being played by the financial market infrastructures in enabling economies to adopt innovation and achieve inclusive growth.
He said AMEDA holds the view that financial infrastructure is not solely a technical tool as it constitutes an essential mechanism for development and a sound basis for incentivising investment, improving transparency, optimising market efficiency, and realising economic integration within the region
