Vice President Kashim Shettima has defended President Bola Tinubu's economic reforms, describing them as bold decisions that prevented Nigeria's economy from collapsing. Shettima made these comments after meeting with Tinubu at the President's Lagos residence. During the meeting, Shettima expressed his appreciation for Tinubu's leadership, saying that the President's decisions had helped to prevent a deeper economic crisis.
Shettima revealed that Tinubu had inherited an economy in serious distress, citing the country's low foreign reserves as evidence. When Tinubu assumed office, Nigeria's foreign reserves stood at $3.9 billion, which was not enough to import oil for one month. Shettima said that Tinubu had shown courage and conviction in taking far-reaching decisions to address the economic challenges.
The Vice President specifically defended the removal of petrol subsidy and the unification of the country's multiple exchange rates, describing both measures as difficult but necessary choices. According to Shettima, these decisions had helped to prevent a deeper economic crisis. He emphasized that Tinubu's leadership had saved the economy from collapse, saying that the country was on the verge of falling into pieces.
Shettima appealed to Nigerians to be patient with the administration despite the hardship caused by the reforms. He urged Nigerians to give Tinubu credit for his bold decisions and to be generous in their assessment of his leadership. Shettima also expressed appreciation for the understanding and resilience of Nigerians, saying that tough times do not last forever.
The Vice President outlined measures the Federal Government plans to introduce in the North-East to cushion the effects of the economic difficulties. These measures include the launch of e-logistics, 10,600 electric tricycles, 300 buses, and e-taxis. The aim of these initiatives is to ease the pains of the people in the North-East and to ameliorate their sufferings.
Shettima also praised the Nigerian Education Loan Fund (NELFUND), describing it as a major intervention for students from low-income backgrounds. He said that the President had shown empathy for the common man and that NELFUND was a masterstroke aimed at assisting students to access education.
On the growing political activities ahead of the 2027 elections, Shettima said the administration would continue to focus on governance. He emphasized that politics and governance would be combined, saying that the administration would prioritize the needs of Nigerians.
Key points
- Shettima defends Tinubu's economic reforms as bold decisions that prevented Nigeria's economy from collapsing.
- The Vice President outlines measures to cushion the effects of economic difficulties in the North-East.
- Shettima praises NELFUND as a major intervention for students from low-income backgrounds.
