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Vice President Kashim Shettima stated on Thursday that President Bola Tinubu's economic reforms over the past year had "rescued the nation from economic crisis."
Shettima emphasized the necessity of these reforms due to Nigeria's poor state when Tinubu assumed office on May 29, 2023.
Speaking as the guest speaker at the Second Chronicle Roundtable in Abuja, Shettima commended Tinubu for choosing measures that would save the nation from imminent economic collapse, rather than prolonging its downfall.
He elaborated on the administration's decisions regarding petrol subsidy and foreign exchange market intervention, highlighting the President's choice of the most challenging but certain path to recovery.
Shettima also affirmed that the Tinubu administration does not hold the previous regime responsible for its decisions.
He urged Nigerians to be patient with the administration, assuring them that Tinubu is navigating the nation through economic challenges encountered upon taking office.
Shettima expressed confidence that the measures implemented thus far would soon yield positive results for the nation.
The Vice President expressed optimism that Nigeria's economy will see substantial growth after overcoming current challenges.
He predicted positive changes in various economic indicators such as inflation, per capita income, GDP, poverty reduction, and food security.
Shettima highlighted that the Tinubu-led government understands the decisions made by the previous administration and does not blame them for the current economic difficulties.
He emphasized the importance of leadership, courage, and making difficult decisions for the country's well-being.
The Vice President also mentioned the high debt-service-to-revenue ratio before Tinubu took office, describing it as an "economic death sentence."
the Vice President lamented the level of sabotage Nigeria’s economy had suffered at the hands of those he said are only concerned with personal gains over national interest.
He pointed at fuel subsidy beneficiaries and foreign currency speculators saying “Our colleagues in charge of the CBN, Mr. Yemi Cardoso, and the NSA, Nuhu Ribadu, had to take matters into their own hands.”
Shettima expressed confidence that some of the measures being administered would soon bring desired results for the nation.
He implored Nigerians to be patient with the administration as the President steers the ship of state through the economic turbulence and storm he met on ground.
He argued that every nation is forged from its peculiar economic histories and contexts.
He cited the Argentine Solution suggested by the presidential candidate of the Peoples Democratic Party in the last election, Atiku Abubakar, noting that governance is not a photocopying machine.
Earlier in his opening remarks, the Chairman of the Ministry of Finance Incorporated and former Finance Minister, Dr. Shamsudeen Usman, said the Renewed Hope Agenda of the Tinubu administration is a detailed and carefully crafted policy document.
However, he called for periodic review and integration into the country's medium and long-term development framework.
Usman said policy consistency with a long-term vision to transform critical sectors of the economy, is the way to go.
Meanwhile, the CEO of the 2nd Chronicle Newspaper, Mahmud Jega, implored guests to critically analyze government policies and programs.
Jega said critical analysis by the media but is necessary to collectively contribute to the nation’s development.
