Vice President Kashim Shettima, at the Nigeria Economic Summit in Abuja, acknowledged the ongoing hardships faced by Nigerians due to the government’s economic policies but stressed that the difficult decisions are necessary to secure long-term growth for the nation.
Shettima, speaking on behalf of himself and President Bola Tinubu, expressed empathy for the burdens being borne by ordinary Nigerians, particularly the poor and the youth, as they navigate this tough period.
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He assured that the reforms, while painful, are the only viable path to putting Nigeria on a sustainable economic trajectory.
He pointed out that the Nigerian economy has long been over-dependent on oil and has struggled to generate enough employment for the country’s fast-growing population.
To tackle these issues, the administration has prioritized economic diversification, focusing on sectors like agriculture, manufacturing, and the digital economy.
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The Vice President highlighted government initiatives aimed at supporting small and medium enterprises (SMEs), improving critical infrastructure, and cutting through regulatory red tape to create a more business-friendly environment.
Among the initiatives introduced are single-digit interest loans for manufacturers and a newly established credit corporation offering consumer loans to workers.
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On security, Shettima reiterated the government’s firm commitment to addressing terrorism and banditry, which continue to threaten stability.
In addition, he underscored the importance of fiscal reforms, including the removal of fuel subsidies and improved debt management practices, to stabilize the nation’s economy.
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Calling for a collaborative approach, Shettima urged the public and private sectors to work together to navigate Nigeria’s economic difficulties.
He emphasized that the Nigeria Economic Summit provides a crucial platform for dialogue and the development of actionable solutions that can help the nation achieve economic stability and growth.
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“The road ahead may be challenging, but it is navigable,” Shettima concluded. “With sound policies, strong partnerships, and national unity, Nigeria can overcome these obstacles and emerge stronger, more competitive, and resilient.”
