Vice President Shettima stated on Saturday that President Bola Tinubu’s economic policies averted economic collapse and prevented the nation from falling apart.
Speaking to journalists in Lagos shortly after a meeting with President Tinubu, VP Kashim Shettima defended the administration’s economic reforms.
He noted that upon taking office, Nigeria’s foreign reserves stood at less than $3.9 billion, leaving the economy on the brink of a crisis comparable to Venezuela’s.
“When we assumed the mantle of leadership, our foreign reserves were a staggering below $3.9 billion that was not enough to import fuel for one month,” Shettima said.
He argued that Tinubu had the “courage and conviction” to make tough decisions such as the removal of fuel subsidy and the realignment of the multiple exchange rate.
“The withdrawal of the fuel subsidy, the realignment of the multiple exchange rate were far-reaching decisions.
“The economy was actually on the verge of collapse. He saved the economy,” the VP said.
“I want Nigerians to understand this fundamental truism. We were on the road to Caracas. He saved our economy; he saved the nation from falling into pieces.”
‘Tough Times Do Not Last Forever’
Vice President Shettima acknowledged the economic hardships currently affecting Nigerians, stating that the administration is implementing various initiatives to alleviate the burden on citizens.
“We appreciate the pains Nigerians are going through, but tough times do not last forever; tough people do,” he noted.
Shettima announced that the federal government will launch several developmental projects in the coming weeks, including the deployment of electric tricycles in the North-East and e-logistics networks in the North-West.
He further emphasized that President Tinubu remains deeply empathetic toward the needs of everyday Nigerians.
“In the next couple of weeks, we are going to launch e-logistics in the North-West. We are going to launch 10,600 electric tricycles to ease the pains of the people in the North-East, and 300 buses and e-taxis; all these are meant to ameliorate the suffering of our people,” he added.
Backstory…
The remarks followed a meeting between Vice President Shettima and President Bola Tinubu in Lagos on Saturday, October 3, shortly after the President’s return from Europe.
The Vice President’s comments aligned with President Tinubu’s 66th Independence Day address, during which the President called on citizens to remain hopeful despite current national hardships.
This echoes Tinubu’s earlier address on September 26, where he assured the nation that the period of intense sacrifice was nearing its end, maintaining that Nigeria remains on a trajectory toward economic recovery, peace, and long-term growth.
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