There is tremendous potential for Nigeria-Sweden collaboration across multiple sectors -V.P. Kashim Shettima

Nigeria's Vice President, His Excellency Sen. Kashim Shettima (GCON), accompanied by the eminent government officials in a State visit to Sweden, has highlighted numerous potential for collaboration between Nigeria and Sweden.

In his keynote address in a business forum at Epicenter, Stockholm, Sweden, themed "Trade and Investments with a focus on the Digital Economy, Agriculture and Renewable Energy", recently, the Vice President said Nigeria and Sweden share a longstanding history of cooperation, particularly in trade, technology and sustainable development.

In a thought-provoking piece titled, "The pursuit of balance: Building mutual opportunities in Nigeria's economy" Sen. Shettima said, through President Bola Ahmed Tinubu-led administration, Nigeria has introduced bold financial reforms, including the unification of exchange rates and the removal of fuel subsidies.

"Though challenging, these reforms are necessary steps in restructuring the economy for sustainable growth", the VP said.

According to the Vice President, "there is tremendous potential for collaboration between Nigeria and Sweden across multiple sectors. Whether in finance, renewable energy, digital innovation, agriculture or education, our partnership holds the promise of immense benefits for both nations".

"I urge Swedish investors to seize the opportunities in Nigeria and work with us to build a prosperous and sustainable future", he said.

The Vice President also emphasized the need to intensify efforts, between both countries, especially on Agriculture for economic advancement.

"Agriculture remains a critical sector in Nigeria's economy, employing a significant portion of our population. We are working to modernize the sector, and Swedish expertise in agricultural technology can help us achieve this. Investment in precision farming, mechanisation and value-chain development will improve productivity and food security in Nigeria", he said.

"Nigeria, with a population of over 200 million, represents one of the largest and most vibrant markets in Africa. We are undertaking significant reforms to improve the business environment, from streamlining regulations to enhancing infrastructure. Investors can expect attractive returns, particularly in sectors like agriculture, technology, and renewable energy".

"The World Bank projects Nigeria’s economy to grow by over 3.3% in 2025, creating a win-win situation where your investments yield substantial financial returns and contribute to Nigeria’s economic development and resilience".

"We are here not only to speak but to listen and engage. We value partnership and collaboration. Please share how we can better support your operations in Nigeria, whether through improving processes, enhancing regulatory frameworks, or facilitating access to local resources".

"Together, we can create an ecosystem that nurtures innovation and growth, ensuring mutual success in our business endeavours".

The Vice President equally stressed the need for the Swedish authority to support Nigeria's lofty initiatives in strengthening small scale businesses across the country.

He said "through initiatives like SME Survival Fund and MSME Clinics, the Nigerian government is providing critical support to these enterprises, and we welcome partnerships to further empower them.

According to him, "Nigeria's digital economy is one of the fastest-growing sectors in Africa, contributing significantly to the GDP. Our fintech ecosystem, led by companies such as Flutterwave and Paystack, has attracted global attention, with Nigerian tech start-ups receiving over $1 billion funding in 2022. Swedish investors, with their expertise in technology and innovation, are well positioned to collaborate with Nigerian start-ups, driving growth and creating jobs", he said.

Those, among others, who were in the entourage of the Vice President include the Minister of Foreign Affairs,His Excellency, Ambassador Yusuf Maitama Tuggar, Federal Minister of Communication, Dr. Bosun Tijjani, Governor of Plateau State, His Excellency Caleb Manasseh Mutfwang, Osun State Governor, His Excellency Sen. Ademola Jackson Nurudeen Adeleke (represented by the Commissioner for Commerce and Industry, Rev. Bunmi Jenyo), the Vice President Director of Protocol, Ambassador Adamu Idris Muhammed and the Vice President Technical Adviser on Foreign Direct Investment, Princess Zahrah Mustapha Audu.

Also are the Heads of Agencies such as the CEO, National Information Technology Development Agency (NITDA), Mr. Kashifu Inuwa Abdulahi, Administrative Assistant, Ms Abba Gwadabe, Executive Vice-chairman/CEO, National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu, Executive Vice-chairman/CEO, Nigerian Communication Commission (NCC), Mr. Aminu Maida and the Chief Executive Officer, Gluwa, Mr. Tae Lim Oh.