Nigeria's VP Shettima calls for foreign investment at Delta summit
Nigeria's Vice President Kashim Shettima used the Delta State Economic and Investment Summit 2026 in Asaba to urge healthy competition among the 36 states, saying it drives job creation, prosperity and a race for economic growth. He praised President Bola Ahmed Tinubu’s reforms, noting that foreign exchange reserves have risen to about $52 billion from a low of $3 billion, and highlighted the surge in foreign direct investment.
Investors from Brazil, Malaysia and the United States attended the summit, toured the Kwale Special Economic Zone, the Kwale Gas Gathering Hub, Phoenix Company, Skyward Resources Group and Uzezi Farms, and signaled interest in natural‑gas power generation, cassava processing, oil‑palm development and other agricultural and energy projects. Brazilian delegation leader Roberto Fonseca said Brazil plans to invest in gas‑fired power and cassava processing, while Malaysia’s High Commissioner Aiyub Omar expressed interest in oil‑palm ventures.
Separately, Minister of Information Mohammed Idris announced at the Nigeria–Saudi Diaspora Investment and Tourism Exhibition in Abuja that Nigeria is ready to deepen investment, trade and tourism ties with Saudi Arabia, positioning the country as Africa’s hub for the global halal economy.
Entities: Bola Ahmed Tinubu · Chukwuma Soludo · Delta State · Kashim Shettima · Mohammed Idris · Ngozi Okonjo‑Iweala · Roberto Fonseca · Sheriff Oborevwori
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] Brazilian delegation leader Roberto Fonseca said Brazil plans to invest in natural‑gas power generation and cassava processing in Delta State. (Roberto Fonseca remarks)
- [○ 1 SOURCE] Minister of Information Mohammed Idris said Nigeria is ready to deepen investment, trade and tourism partnerships with Saudi Arabia at the 2026 Nigeria–Saudi Diaspora Investment and Tourism Exhibition (Mohammed Idris remarks)
- [● 2 SOURCES] The Kwale Special Economic Zone includes the Kwale Gas Gathering Hub and Phoenix Company, which were toured by foreign investors. (Summit itinerary)
- [● 2 SOURCES] Nigeria’s foreign exchange reserves rose to about $52 billion, up from $3 billion, under President Bola Ahmed Tinubu’s reforms. (Shettima’s remarks on reserves)
- [● 2 SOURCES] Vice President Shettima said Nigeria is open and ready for Saudi investors, positioning the country as Africa’s hub for the global halal economy. (Shettima’s remarks at the Nigeria‑Saudi Investment and Tourism Exhibition)
- [● 2 SOURCES] Investors from Brazil, Malaysia and the United States expressed interest in investing in Delta State's agriculture, energy and industrial sectors after site visits. (Investor delegation statements)
- [● 3 SOURCES] Vice President Kashim Shettima urged healthy competition among Nigeria's 36 states to attract investment at the Delta State Economic and Investment Summit 2026. (Shettima statements at the summit)
- [○ 1 SOURCE] Malaysia’s High Commissioner Aiyub Omar indicated interest in oil‑palm development projects in Delta State. (Aiyub Omar remarks)