ABUJA, Oct. 9 (Xinhua) — Nigeria has exited its phase of economic instability and is now poised for greater investment growth, Vice President Kashim Shettima said Wednesday, crediting recent government reforms for the turnaround. “Nigeria has exited its phase of economic instability … I assure investors that there is no better time to choose Nigeria,” Shettima said in a statement following the opening of an investment summit in the northeastern state of Bauchi. He said that when President Bola Tinubu assumed office in 2023, the economy was on the brink of a financial crisis, with the debt service-to-revenue ratio nearing 100 percent. The figure has since fallen to below 50 percent, while the country’s gross domestic product (GDP) grew by 4.23 percent as of September. “Our non-oil revenues grew by 411 percent year-on-year in the same month. Our tax-to-GDP ratio now stands at 13.5 percent, up from barely 7 percent a few years ago. Our debt-to-GDP ratio remains at 38.8 percent, far below the limits set by the Fiscal Responsibility Act at 60 percent, and those of the Economic Community of West African States, and the World Bank at 70 percent,” Shettima noted. In addition, the country’s external reserves had grown to 43 billion U.S. dollars as of September, he said, maintaining that there cannot be a more potent treatment for “a bad economy” than a stable economic stimulus. Enditem