Vice-President Kashim Shettima has defended the economic policies of the President Bola Tinubu administration, saying the Federal Government deserves commendation rather than condemnation for its efforts to reposition the Nigerian economy.
Shettima stated this on Monday while speaking at the Delta State Economic and Investment Summit in Asaba, the state capital, Naijaonpoint reports.
The Vice-President said the economic reforms introduced by the administration had started producing positive results, particularly in attracting capital inflows and improving the country’s foreign reserves.
According to him, the Tinubu administration inherited a difficult economic situation but had made progress in addressing some of the challenges.
Shettima, while speaking about the country’s economic recovery, commended the Governor of Anambra State, Chukwuma Soludo, for helping Nigerians understand the economic situation inherited by the Federal Government.
“Professor Soludo, you have done a lot of things for the federal government, especially in informing Nigerians where we were coming from, from reserves of $3 billion,” Shettima said.
The Vice-President said the country had moved from a period of capital scarcity and capital flight to one where investors were increasingly bringing money into the Nigerian economy.
“When we were experiencing capital plight and scarcity, now we are experiencing capital inflows.
“Our foreign reserves have gone up to over $52 billion and counting in a turbulent world. Even the president deserves commendation and not condemnation,” he said.
Shettima said the improvement in the country’s foreign reserves was an indication that the government’s economic policies were beginning to yield results.
The Vice-President also praised Soludo for his support for the Federal Government’s economic reform agenda.
Shettima recalled that the former Central Bank of Nigeria governor had taken a position that was considered unpopular during the 2023 election campaign.
He said Soludo had “defied the direction of the wind” by maintaining that the presidential election would not be won through “blackmail and intimidation” but through “grassroots support.”
The Vice-President said the Anambra governor’s position demonstrated his commitment to what he believed was right, irrespective of political pressure.
Shettima also used the occasion to assure investors that the Federal Government remained committed to creating a business-friendly environment that would encourage investment and enterprise across the country.
He said the Federal Government would continue to work with state governments to identify and remove obstacles that could discourage investors from doing business in Nigeria.
The Vice-President stressed the importance of cooperation between the Federal Government and sub-national governments in creating an economy where businesses could thrive and investors could operate with confidence.
He said the administration would continue to support policies aimed at attracting investment, strengthening the economy and improving the country’s overall business environment.
