Vice President Kassim Shettima has expressed compassion on behalf of himself and President Bola Ahmed Tinubu for the hardships Nigerians are facing due to the economic reforms.
He spoke yesterday at the Nigeria Economic Summit in Abuja.
The vice president said the reforms were crucial to achieving sustainable growth despite the challenges.
“Our hearts go out to Nigerians, especially the poor and young, enduring difficult times,” Shettima said. “But we have no option if we must return Nigeria to the path of sustainable economic growth.”
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He stressed that Nigeria’s economy had been volatile, over-reliant on oil, and unable to create enough jobs for the country’s rapidly growing population.
Shettima outlined the government’s focus on diversifying the economy through sectors such as agriculture, manufacturing, and the digital economy to address the challenge.
He also highlighted the government’s efforts to support small and medium-sized businesses, improve infrastructure, and remove regulatory bottlenecks, adding that the administration has introduced single-digit interest loans for manufacturers and a new credit corporation to offer consumer loans to workers.
Shettima stressed the government’s commitment to combating terrorism and banditry, while also implementing fiscal reforms like subsidy removal and debt management to stabilise the economy.
Shettima urged collaboration between the public and private sectors to overcome Nigeria’s economic challenges, adding that the Nigeria Economic Summit serves as a platform to foster dialogue and drive actionable recommendations for growth and stability.
“The challenges are significant, but they are manageable.
“With the right policies, partnerships, and cohesion, Nigeria can emerge stronger, more competitive, and resilient,” the vice president added.
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