Vice President Kashim Shettima has emphasised that the current challenges facing Nigeria cannot be solely attributed to the previous administration led by former President Muhammadu Buhari
He made this known during the second Chronicle Roundtable,
Shettima underscored the complexity of leading the nation in these turbulent times, acknowledging the formidable obstacles that lie ahead.
Addressing the audience, Shettima commended President Bola Ahmed Tinubu for making tough decisions in the nation’s interest, rather than opting for the easier path.
He highlighted the pivotal move to remove the fuel subsidy, which had burdened the nation for decades, citing its detrimental impact on the economy.
“The president chose the option that will save the lives of the people instead of the one that will lead to prolonged economic death,” stated Shettima. “We will not resort to blaming the previous administration, as leadership is about courage and continuity.”
Shettima outlined the dire economic situation inherited by the current administration, including a staggering debt service to revenue ratio of 111.18 percent. He emphasised the necessity of tough economic reforms, including the removal of the subsidy regime, despite its unpopularity.
Furthermore, Shettima addressed criticism of the administration’s economic trajectory, citing a presidential candidate who had suggested emulating Argentina’s model. However, he pointed out the pitfalls of such comparisons, noting Argentina’s subsequent surge in inflation.
Highlighting the efforts of the Central Bank of Nigeria (CBN) and the National Security Adviser (NSA), Shettima praised their intervention to stabilise the Naira amidst currency manipulation. He noted that these interventions had thwarted speculators’ projections of a weakened Naira, demonstrating the administration’s commitment to economic stability.
Overall, Shettima’s remarks underscored the administration’s resolve to confront challenges head-on and implement necessary reforms for the betterment of Nigeria’s economic future.
