Shettima says enterprise key to Nigeria’s $1 trillion economy

Vice President Kashim Shettima has said Nigeria’s ambition to build a $1 trillion economy depends on businesses that can create value, expand production and compete in international markets.

Mr Shettima spoke on Wednesday at a masterclass organised by the Aspire Women Forum at the Presidential Villa, Abuja, to prepare women and young people for export opportunities.

Represented by his Special Assistant on Humanitarian Affairs and Development Partners, Inna Audu, the vice president stated that training alone would not be enough to help entrepreneurs grow their businesses without access to finance, markets and other support.

The masterclass was themed ‘From Survival to Thriving: Empowering Women and Youth for Export Readiness, Global Market Access and Prosperity under the Renewed Hope Agenda’.

Mr Shettima explained that the government could not achieve its economic ambition without businesses capable of growing, competing and creating jobs.

“Our ambition to build a one-trillion-dollar economy cannot be realised by government alone. It requires an ecosystem in which businesses can emerge, grow, compete and contribute to national development,” he said.

He noted that women and young people must play a central role in expanding production, raising household incomes and creating employment.

“The true measure of this masterclass will not be the number of people in this hall, but the number of businesses that become stronger, the number of entrepreneurs who reach new markets and the number of livelihoods transformed by what is learnt here,” he added.

Mr Shettima commended the forum’s founder, Zainab Marwa, and its partners for organising the programme.

Marwa warns exporters against drug trafficking

Also speaking, the Chairman of the National Drug Law Enforcement Agency (NDLEA), Buba Marwa, warned aspiring exporters against allowing drug traffickers to use their businesses to smuggle illicit substances.

According to a statement shared with PREMIUM TIMES on Wednesday by NDLEA spokesperson Femi Babafemi, Mr Marwa stated that a shipment containing drugs could lead to imprisonment, damage an exporter’s reputation and hurt Nigeria’s image in international markets.

“Know exactly what you are shipping. Verify your partners and your transactions. Never carry a package you did not pack, and never let your goods be used for trafficking,” he said.

The warning comes amid NDLEA reports of drugs concealed in consignments intended for export. In July, the agency reported the arrest of a Lagos businessman over an alleged attempt to export cocaine concealed in cartons of foodstuffs destined for the United Kingdom.

Mr Marwa also cautioned participants against substance abuse, warning that drugs could worsen the pressures associated with business and personal challenges.

“Do not let pressure, disappointment, curiosity or the desire to belong draw you into drugs. Drugs solve no business problem and end no hardship; they only multiply them,” he said.

He urged people struggling with drug dependence to seek professional help, describing it as an act of courage rather than shame.

According to him, the NDLEA operates a 24-hour toll-free helpline, 0800 1020 3040, where trained professionals assist in English, Pidgin, Hausa, Igbo and Yoruba.

He also pledged the agency’s support for the forum through its War Against Drug Abuse advocacy programme.

Mr Marwa urged participants to take practical steps to improve their businesses, including registering their enterprises, keeping proper records and developing their digital skills.

Organisers identify barriers to business growth

Earlier, Mrs Marwa noted that many Nigerians worked long hours producing goods and providing services but struggled to earn enough because of poor business records, lack of registration, inadequate financing, weak packaging and limited access to buyers.

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She said the masterclass was designed to help participants address these challenges and understand how to access government support, including financing opportunities through the Bank of Industry.

The forum also invited young men to participate because unstable incomes affect entire households, she said, while reaffirming its commitment to advancing women’s economic opportunities.

Mrs Marwa explained that the forum would continue supporting participants after the event through mentoring, referrals and further learning opportunities.

She thanked Mr Shettima for the support of his office and acknowledged the Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala, whose meeting with her in Geneva strengthened her resolve to pursue the initiative.

She also recognised Queen Okpa, founder of Women in Agribusiness, Trade and Export, for her support.