Vice-President Kashim Shettima has defended President Bola Tinubu’s economic reforms, saying the administration should be commended rather than criticised for the measures it has introduced to reposition Nigeria’s economy.
Shettima made the remarks on Monday while speaking at the Delta State Economic and Investment Summit in Asaba. According to him, the reforms are already producing positive results, particularly in attracting investment and improving the country’s foreign reserves.
He said the Tinubu administration inherited a difficult economic situation but has made significant progress since assuming office.
Referring to Anambra State Governor Chukwuma Soludo, Shettima praised the former Central Bank of Nigeria governor for helping Nigerians understand the state of the economy before the current administration took over.
“Professor Soludo has done a lot in explaining where we were coming from. At one point, our reserves had fallen to about $3 billion. We experienced severe capital shortages, but today we are seeing capital inflows,” he said.
He added that Nigeria’s foreign reserves have risen to more than $52 billion, despite global economic uncertainties.
“Our foreign reserves have gone above $52 billion and are still growing in a turbulent global environment. The President deserves commendation, not condemnation,” Shettima said.
The Vice-President also applauded Soludo for openly supporting the Federal Government’s reform agenda, noting that he took a position that was unpopular during the 2023 election period.
According to Shettima, Soludo remained firm in his belief that elections should be won through grassroots support rather than intimidation or blackmail.
He assured local and foreign investors that the Federal Government remains committed to creating a business-friendly environment by working closely with state governments to remove obstacles that hinder investment and economic growth.
