Vice President Kashim Shettima has expressed optimism regarding Nigeria’s economic recovery. He highlighted that the country’s Gross Domestic Product (GDP) experienced a year-on-year growth of 2.98 percent in real terms during the first quarter of 2024. This growth reflects a positive trend in the nation’s economy, suggesting that recovery efforts are beginning to take effect.
The services sector played a crucial role in this economic performance, achieving a growth rate of 4.32 percent. This sector’s contribution accounted for 58.04 percent of the total GDP, underscoring its significance in driving overall economic activity. Such figures indicate a robust performance that could set the stage for continued growth in the coming quarters.
During a recent event, Shettima led a Federal Government delegation to inaugurate the 2024 commercial and industrial trade fair in Lagos. He emphasized that the economic policies implemented by President Bola Ahmed Tinubu’s administration are focused on fostering growth and stability within the economy. This commitment reflects the government’s dedication to improving the economic landscape for all Nigerians.
Shettima, represented by his special assistant on regional development, Dr. Marian Tomitope Marshall, urged participants at the trade fair to take advantage of the opportunities available. He encouraged them to build lasting relationships that would contribute to ongoing economic development, reinforcing the importance of collaboration in achieving shared goals.
The Vice President also praised President Tinubu’s Renewed Hope agenda, describing it as a guiding light aimed at leading the nation toward a prosperous and sustainable future. This agenda is intended to create a conducive environment for economic activities, ensuring that both domestic and foreign investments can thrive.
Furthermore, Shettima emphasized the government’s active efforts to establish an enabling environment for businesses. By creating favorable conditions for investment, the administration aims to stimulate growth and encourage entrepreneurship across various sectors of the economy.
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He expressed gratitude to the leadership of the Lagos State Trade Fair Complex, particularly Barr. Veronica Ndanusa and her team, for their efforts in organizing the trade fair. Shettima acknowledged that their commitment to reviving this platform is a testament to their dedication to driving economic growth and development in Nigeria.
In conclusion, the Vice President’s remarks highlight a hopeful outlook for Nigeria’s economy. With strategic policies and collaborative efforts, there is potential for significant progress as the nation navigates its recovery journey. The focus on sustainable development and investment will be key to ensuring a brighter economic future for all citizens.
