President Tinubu’s Policies Transforming Nigeria’s Economy – VP Shettima

Vice President Kashim Shettima says President Bola Tinubu has demonstrated courage and decisiveness through bold policies, including the removal of fuel subsidies, which are gradually transforming Nigeria into a leading global economy

The Vice President stated this on Tuesday when he received a delegation from the Harvard Kennedy School Alumni on a Nigeria-Ghana Trek at the Presidential Villa, Abuja.

He assured them, however, that measures being put in place to address the challenges caused by the subsidy removal such as alternative energy sources, and investment in green technology would soon improve the living standard of Nigerians.

Fielding questions from the Harvard students alongside the Minister of Finance, Mr. Wale Edun; Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, and the Special Adviser to the President on Energy, Mrs Olu Verheijen, VP Shettima noted that President Tinubu is a good leader who is burning in an unquenchable desire to make Nigeria work.

He said; “When we assumed the mantle of leadership, the greatest albatross around the neck of the Nigerian government over the past 50 years had been subsidy on petroleum products. We came to a point where we either get rid of the subsidy or the subsidy will get rid of the Nigerian nation.

“So, my boss (President Tinubu) took the bullet, and we knew that if we failed to address the fuel subsidy scam within the first three weeks of the administration, we wouldn’t dare to do that again. In his inaugural address, he took the bullet and announced the removal of the fuel subsidy. And we should know the consequences of unveiling a masquerade; they came after us. We stood our ground and the fuel subsidy was gone.”

On measures being taken so far to ease the hardship caused by subsidy removal, the Vice President noted that apart from the social palliatives, the administration is exploring alternative energy sources.

“We are investing massively in green technology – electric buses, electric cars and electric tricycles. Just two weeks ago, the Federal Executive Council approved an expenditure of N158 billion for the procurement of those items for the North East and it will be replicated in other sub-regions of the country,” he said.

VP Shettima also said the realignment of the multiple exchange rate was another bold decision by President Tinubu which saved the country from corruption in the foreign exchange market.

He said; “There was no need for you to work. If you had contacts, if you had goodwill in the Central Bank, they could allocate $50 million to you at the official exchange rate, which was around N300-N400 to the dollar, you could make a premium of N300 from the black market without lifting a finger. You can make $30 million within a week or two.

“Our fiscal policy, our tax reforms, are also a very monumental decision by the government of President Bola Ahmed Tinubu. Some of the decisions were very hard decisions. As I said, leadership is not a popularity contest. If you want to be popular, be a nice man, Bola Tinubu may not be a nice man but he is a good leader, and that is what leadership is all about. And we have to make this country work.”

The Vice President urged the delegation to ignore the negative narratives about Nigeria and focus on the development strides of the government.

Introducing the Harvard Kennedy School Alumni delegation, the group’s leader, Sheffy Kolade, said she represented four West Africans who invited 50 colleagues and friends on a Nigeria-Ghana Trek. The aim, she noted, was to move beyond curiosity about appearance and culture to understanding Nigeria’s trajectory as the most populous black nation.

Kolade explained that many Harvard students have studied Africa, its policies, and history.

She emphasised that their visit to Nigeria’s Vice President would provide firsthand insight into the government’s programs, policies, and the country’s progress, particularly in response to evolving global dynamics and shifting relationships with the West.

Mercy Chukwudiebere