Vice-President Kashim Shettima has said that the federal government will create a more enabling environment for investors to thrive and leverage the industrial revolution to achieve the proposed $1 trillion economy.
Mr Shettima stated this during the 2025 Ota Investment Summit and Trade Fair on Tuesday in Ota.
The trade fair has as its theme: “Industrial Revolution: Potential and Opportunities from Ota to the rest of the World”.
The vice president, who was represented by Special Adviser on Economic Affairs Tope Fasua, said that the President Bola Tinubu administration’s Renewed Hope Agenda was more than a mere slogan.
“It is a comprehensive blueprint for national rebirth, and it is a bold pact with the Nigerian people, premised on the belief that our nation must reach its full potential,” he said.
According to him, the planned $1 trillion economy is both ‘audacious and eminently achievable’.
Mr Shettima noted that the federal government’s unflinching commitment to fiscal discipline, a business-friendly environment and the removal of bureaucracy was an affirmation of the belief that the private sector, led by visionary entrepreneurs and investors, could serve as the driver of prosperity and job creation.
“The rebased gross domestic product (GDP) was not merely a statistical update, but it demonstrates that our economy is not just a story of oil and gas but a rich tapestry woven with the thread of technology, financial services and a booming agricultural value chain,” he said.
The vice president urged Nigerians to work together with the federal government to build a new industrial revolution that would not only create wealth but also empower the people and create jobs for the youth.
He described the Ota Investment Summit and Fair as a platform for forging new partnerships, sharing knowledge and committing to a shared future of prosperity.
In his opening remarks, the Olota of Ota, Oba Adeyemi Obalanlege, said that Ota Industrial Belt’s success was not accidental but a product of decades of strategic investment, infrastructure development and the handiwork of visionary entrepreneurs.
Mr Obalanlege said that the belt’s proximity to global shipping routes, airports, skilled labour and raw materials had continued to make it a magnet for industrial expansion.
He said that the federal government’s aspiration to achieve a $1 trillion economy was ambitious, adding that Ota could be a driver of that goal with proper infrastructural upgrades and sustained investor confidence.
“Ota Industrial Belt can significantly boost Nigeria’s GDP through increased manufacturing outputs for domestic and export markets, greater foreign direct investment inflows from global partners, and expansion of small and medium enterprises (SMEs) into regional value chains, as well as creation of jobs,” he said.
Mr Obalanlege, a professor, said that the summit was not just about showcasing the town’s strengths but about proving that Nigeria could achieve its trillion-dollar ambition.
Chairman of Ota Chamber of Commerce, Kayode Bowale, called for a stronger public-private partnership for road infrastructure, rapid community development and industrial growth.
Mr Bowale stressed the need for patronising locally made goods and services to boost the country’s development.
More than 18 exhibitors participated in the trade fair.
(NAN)
