Vice President Kashim Shettima says Tinubu’s economic reforms prevented Nigeria’s collapse and will deliver a $1 trillion economy, while attacking Atiku Abubakar and Peter Obi.
Vice President Kashim Shettima has declared that President Bola Ahmed Tinubu‘s bold economic reforms saved Nigeria from imminent collapse, stabilised the economy and laid the foundation for sustainable prosperity.
Tinubus Reforms Saved Nigeria From Collapse
He spoke at the All Progressives Congress presidential campaign rally in Port Harcourt, Rivers State. Shettima said the removal of petrol subsidy, the unification of foreign exchange rates and the recently introduced tax reforms were necessary interventions that prevented Nigeria from sliding into a severe economic crisis. He expressed confidence that the reforms would transform Nigeria into a truly middle-income country, with the economy reaching the $1 trillion mark within the next five to 10 years.
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According to him, the administration inherited an economy teetering on the brink of collapse in May 2023, but Tinubu demonstrated the courage to implement reforms that previous administrations had avoided. He said the President did not kick the ball down the road or demonise his predecessor. Shettima said the foreign exchange reserve position inherited by the government was less than $3.9 billion, but the administration’s policies had strengthened the country’s external buffers.
He said gross reserves are now approaching the $60 billion mark, while international credit ratings have improved. He maintained that failing to act decisively would have been disastrous for Nigeria’s estimated 250 million people. He said without the far-reaching decisions on fuel subsidy withdrawal, the collapse of multiple exchange rate regimes and tax reforms, the country could have collapsed.
Shettima Attacks Atiku And Peter Obi Records
The Vice President turned his attention to opposition politicians, accusing them of trying to discredit Tinubu’s achievements instead of acknowledging the necessity and benefits of his economic interventions. He singled out former Vice President Atiku Abubakar over his fuel subsidy proposal. Shettima described Atiku as intellectually malnourished and accused him of relying on advice from voodoo economists in formulating his proposed subsidy policy. He insisted that Tinubu deserved commendation for confronting economic problems that previous governments had failed to resolve.
He also targeted former Anambra State Governor Peter Obi, dismissing his record in public office and the banking industry as unimpressive. He said Obi was governor of Anambra State for eight years and his performance was at best mediocre, adding that Obi was chairman of a bank and his performance there was equally mediocre. Shettima alleged that the bank started waxing stronger after Obi’s exit.
He argued that Obi’s record as governor did not support the leadership image he projected, contrasting it with what he described as more ambitious developmental achievements elsewhere in the country. The Vice President accused some opposition figures of making unrealistic promises without sufficient understanding of the complexities of modern governance and economic management. He said such politicians were misleading Nigerians and themselves with promises that cannot be fulfilled.
Education Loan Fund Boosts Young Nigerians Opportunities
Shettima assured Nigerians that Tinubu’s policies were driven by a genuine commitment to improving their welfare and securing the country’s economic future. He cited the Nigerian Education Loan Fund and the Nigerian Consumer Credit Corporation as major interventions designed to expand opportunities for young Nigerians. According to him, the student loan initiative is helping to remove financial barriers that previously prevented children from disadvantaged backgrounds from pursuing tertiary education.
He said the consumer credit programme is creating opportunities for middle-income Nigerians to acquire vehicles, household appliances and other essential assets without financially damaging alternatives. Shettima also cited improvements in Nigeria’s international credit ratings as evidence that the reforms were yielding results and restoring confidence in the economy. He said the economy has stabilised and the country is on a firmer footing than when the administration took office.
The Vice President said his message was not that of a politician but of a fellow countryman. He maintained that the administration’s difficult decisions were taken in the national interest and would deliver long-term benefits to all Nigerians.