Vice President Kashim Shettima praised President Bola Tinubu’s economic reforms over the past year, emphasizing that they were crucial in saving the nation from a dire economic situation.
Shettima highlighted the necessity of these reforms considering the challenging state of Nigeria when Tinubu assumed office on May 29, 2023.
Speaking at the Second Chronicle Roundtable in Abuja, Shettima commended Tinubu for choosing a path that prioritized the nation’s survival over short-term solutions.
The Vice President elaborated on the administration’s decisions regarding petrol subsidy and foreign exchange market interventions, stating that Tinubu’s approach, though tough, was the most effective for economic recovery.
Shettima reiterated that the current administration does not blame its predecessors for the challenges it faces but urged Nigerians to be patient as Tinubu navigates the country through economic hardships encountered upon taking office.
He expressed optimism that the measures implemented would soon yield positive outcomes for the economy.
Anticipating significant growth in Nigeria’s economy once the sacrifices are overcome, the VP predicted improvements in various economic indicators such as inflation, per capita income, GDP numbers, poverty reduction, and food security, all aimed at benefiting the citizens.
Shettima emphasized the administration’s understanding of the rationale behind previous government decisions and stressed the importance of leadership in making tough but necessary choices.
Addressing the country’s high debt-service-to-revenue ratio, which was a concern before Tinubu’s tenure, Shettima described it as an “economic death sentence.”
He also pointed out budget deficits, resource diversions, and corruption linked to the subsidy regime, underscoring the need for the administration’s decisive actions to address these inherited challenges.
Despite acknowledging the difficulties faced by Nigeria’s economy due to sabotage by self-serving individuals, Shettima expressed confidence that the ongoing measures would lead to positive outcomes for the nation.
The VP urged patience from critics of Tinubu’s economic policies, emphasizing the uniqueness of each country’s economic journey and the need for tailored solutions based on historical contexts.
Shettima concluded by emphasizing the importance of Nigeria’s success in leading Africa’s growth revolution but stressed the necessity of unity and collective efforts for the greater good.
The event also saw contributions from prominent figures in government and the media industry, all emphasizing the need for critical analysis and constructive engagement to support the country’s development.