Vice President Kashim Shettima has said President Bola Tinubu deserves commendation, not condemnation, for the economic reforms introduced by his administration, saying the policies have strengthened Nigeria’s economy and boosted foreign reserves.

Shettima made the remarks on Monday while speaking at the Delta Economic and Investment Summit in Asaba, where he also praised Anambra State Governor Chukwuma Soludo for supporting the Federal Government’s reform agenda.

According to the Vice President, Nigeria’s foreign reserves have risen from about $3 billion during a period of capital flight to approximately $52 billion, driven by renewed investor confidence and increased capital inflows.

He said, “The President deserves commendation and not condemnation,” adding that the reforms have positioned the country on a stronger economic footing despite global economic challenges.

Shettima also commended Soludo for his courage in supporting the reforms, describing his stance during the 2023 elections as one taken “against the wind.”

The Vice President noted that the growing number of investment summits across states reflects healthy competition among sub-national governments and creates greater opportunities for economic growth.

At the summit, Delta State Governor Sheriff Oborevwori announced that the state government has set aside $100 million (about ₦133.8 billion) as viability gap funding to de-risk investments and attract investors.

Oborevwori also disclosed that over 12,000 hectares of farmland have been designated for agricultural development, with investment opportunities in cassava, oil palm, rice, potatoes and other cash crops.

He added that Delta’s coastline offers significant potential for the development of a thriving marine economy.

The Delta Economic and Investment Summit is aimed at strengthening investor confidence, promoting strategic partnerships, and attracting both local and foreign investments to the state.

First Lady Oluremi Tinubu has praised the Minister of the Federal Capital Territory (FCT), Nyesom Wike, for transforming Abuja’s City Gate into a modern recreational and environmental centre.

Speaking during a ceremony to recognise the FCT Administration’s environmental achievements under the Renewed Hope Green Initiative, Mrs Tinubu described the facelift of the City Gate as remarkable and commended Wike for improving the appearance of the nation’s capital.

She also urged state governments to embrace environmental projects and involve young people in conservation efforts. The First Lady disclosed that a ₦50 million Green Challenge prize was created to encourage states to rehabilitate abandoned public spaces and illegal dumpsites but expressed disappointment that no state participated.

Mrs Tinubu recalled her involvement in environmental advocacy as a student, saying it inspired her commitment to protecting the environment.

Responding, Wike said the City Gate project was inspired by the First Lady’s encouragement for the FCT Administration to improve Abuja’s aesthetics. He explained that her repeated advice prompted the administration to redesign the area in collaboration with the original designers of the City Gate.

The minister said the project has turned the location into a vibrant public space that attracts residents and visitors, especially in the evenings.

Wike also announced plans to replicate similar projects in other parts of Abuja, including the Life Camp district, where an existing green area will be redeveloped into a modern recreational centre.

He reaffirmed the FCT Administration’s commitment to environmental sustainability, noting that clean surroundings and well-maintained green spaces are essential to building a world-class capital city.

In a gesture that is likely to open debate about aid options, Canva billionaires Melanie Perkins and Cliff Obrecht are investing $150 million in an ambitious experiment that challenges conventional aid by putting cash directly into the hands of Malawi’s poorest households.

Since launching the initiative in 2021 through the Canva Foundation and nonprofit GIVEDIRECTLY, the couple has expanded what began as a $10 million pilot into the largest unconditional cash transfer program ever attempted in a low-income country.

Their strategy is not building infrastructure or distributing food, but the programme sends cash directly to recipients via mobile phones, with no strings attached. Each adult receives about $550—an amount that can exceed a year’s income for many Malawians.

The initiative has expanded rapidly. With initial commitment of $50 million between 2021 and 2023, the couple pledged another $100 million in October 2025, so far the largest single donation in GiveDirectly’s history.

In justifying the initiative, the founders said Canva has always been guided by what they call a “simple yet ambitious” two-step plan.

According to them: “Step One is to build one of the world’s most valuable companies. Step Two is to do the most good we can. With more than 30% of Canva’s value (shares) committed to doing good in the world, this vision has shaped everything we do, from the products we create to the kind of company we’ve strived to be.”

So far, more than $52.5 million has reached recipients, with the remainder scheduled for distribution over the next four years.

Early results have been striking. In Malawi’s Khongoni sub-district, where every adult received cash, 90% of recipients rose above the extreme poverty line within three months, according to GiveDirectly.

The result, according to the organisation’s reported, is a 48% decline in child mortality, a 27% reduction in illness and a 23% increase in school enrolment. More than 139,000 people have benefited from the programme.

Researchers have also found broader economic gains. A study showed that every $1,000 transferred generated roughly $2,400 in local economic activity as recipients spent and reinvested the money in nearby businesses. Fears that the influx of cash would trigger inflation failed to materialise, with markets absorbing the increased spending.

Testing the model
The next phase is even larger. In Malawi’s Chiradzulu district, the program aims to reach 185,000 people by early 2027 in what GiveDirectly says is the world’s largest randomised controlled trial of unconditional cash transfers.

Conducted in collaboration with the Malawian government, the study will examine whether additional support, such as technical assistance or community grants, yields better outcomes than cash alone.

For Perkins and Obrecht, the project reflects a broader philosophy. The pair, who signed the Giving Pledge in 2021, have committed to donating most of their Canva wealth through their foundation. Their belief is simple: people experiencing poverty are often best placed to decide what they need most.