Tinubu Saved Nigeria From Economic Collapse – Shettima

Vice President Kashim Shettima has defended President Bola Tinubu’s economic reforms, saying the country was “teetering on the verge of collapse” before the removal of fuel subsidy and the unification of multiple exchange rates.

Shettima made the remarks after meeting with President Tinubu at his residence in Lagos, where he said the administration had remained in regular contact with the President during his time abroad.

“We are quite thrilled that he is back on the beat, and we have been in regular contact throughout his sojourn abroad,” Shettima said.

According to the Vice President, advances in science and technology had made it possible for the President to remain engaged with governance despite being outside the country.

While defending the administration’s economic policies, Shettima said Tinubu demonstrated courage by taking what he described as far-reaching decisions, including the removal of the petrol subsidy and the realignment of the country’s multiple exchange rates.

“When we assumed the mantle of leadership, our foreign reserves was a staggeringly low $3.9 billion — that was not enough to import oil for one month,” he said.

“He had the courage and the conviction to take far-reaching decisions. The withdrawal of the fuel subsidy, the realignment of the multiple exchange rates, were far-reaching decisions.”

Shettima said the economy was already in a critical situation when the Tinubu administration assumed office, insisting that the President’s reforms helped prevent a deeper crisis.

“He literally… the economy was actually teetering on the verge of collapse. He saved the economy. I want Nigerians to understand this fundamental truism.

“We are on the road to Caracas. He saved our economy. He saved the nation from falling to pieces,” he added.

The Vice President, however, acknowledged the hardship being experienced by Nigerians, saying the Federal Government was working on interventions to ease the burden.

“We appreciate the pains Nigerians are going through, but tough times do not last forever. Tough people do,” Shettima said.

He disclosed that the government would soon launch several interventions in the North-East, including e-logistics, electric tricycles, electric taxis and buses.

“In the next couple of weeks, we are going to launch e-logistics in the North-East. We are going to run 10,600 electric tricycles to ease the pains of the people in the North-East, and 300 buses and taxis, e-taxis.

“All these were meant to ameliorate the sufferings of our people,” he said.

Shettima also described the Nigerian Education Loan Fund (NELFUND) as a major initiative designed to expand access to education for students from less privileged backgrounds.

“The President has empathy, a lot of empathy for the common man. The NELFUND is a masterstroke aimed at assisting students of limited means to have access to drink from the Western Spring,” he said.

He assured Nigerians that the administration would continue to introduce programmes and projects aimed at reducing the impact of the current economic difficulties.

On the political climate ahead of the 2027 general elections, Shettima said the government would continue to focus on governance despite the increasing political activities.

“Politics is in the air, but we will combine politics and governance,” he said.