Vice President, Kashim Shettima has defended President Bola Tinubu’s economic reforms, saying Nigeria was “teetering on the verge of collapse” before the removal of the petrol subsidy and the unification of the country’s multiple exchange rates.
He urged Nigerians to be patient and “generous” with the President, whom he credited with saving the economy from collapse.
The Vice President spoke after meeting with President Tinubu at his Lagos residence, saying the administration had remained in regular contact with the President during his time abroad and kept him updated on developments in the country.
He said advances in science and technology had made it possible for the President to provide effective leadership regardless of his location.
According to him, the administration inherited foreign reserves of about 3.9 billion dollars, which he said was insufficient to finance crude oil imports for even one month.
He described the removal of the fuel subsidy and the realignment of multiple exchange rates as difficult but necessary decisions aimed at preventing an economic crisis.
Shettima said, “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.”
The Vice President acknowledged the hardship being experienced by Nigerians, but expressed optimism that the situation would improve, saying tough times would not last forever.
He also cited the Nigerian Education Loan Fund, NELFUND, as one of the administration’s major interventions for students from low-income families.
Shettima described NELFUND as a “masterstroke” designed to expand access to higher education for students who might otherwise be unable to afford it.
He assured Nigerians that the Federal Government would introduce more programmes and projects aimed at easing the economic burden on citizens.
With the 2027 elections drawing closer, Shettima acknowledged the rising political temperature but insisted that governance would not be sacrificed for political campaigns.
