Tinubu’s Reforms Saved Nigeria From Economic Collapse – Shettima

Vice President Kashim Shettima has said President Bola Tinubu’s economic reforms prevented Nigeria from sliding into a deeper crisis, arguing that the country was facing severe economic challenges when the administration assumed office.

Shettima made the remarks on Saturday while speaking with journalists after meeting Tinubu at the President’s residence in Lagos.

He defended major policies introduced by the administration, particularly the removal of fuel subsidy and the realignment of multiple foreign exchange rates, saying Tinubu had the “courage and conviction” to take difficult decisions.

According to Shettima, Nigeria’s foreign reserves stood at below $3.9 billion when the administration took office, which he said was not enough to cover a month of fuel imports.

“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,” Shettima said.

The Vice President acknowledged the hardship Nigerians have experienced as a result of the reforms but appealed for patience, saying the government was working on measures to cushion their effects.

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

Shettima disclosed that the Federal Government would soon launch an e-logistics programme involving 10,600 electric tricycles in the North-East, alongside 300 buses and electric taxis, as part of efforts to reduce transportation costs.

“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,” he said.

He also cited the Nigerian Education Loan Fund (NELFUND) among the government’s interventions aimed at helping students from families with limited financial means access tertiary education.

According to Shettima, Tinubu remained concerned about the impact of the reforms on ordinary Nigerians and would continue to introduce programmes aimed at easing the economic burden.

On Tinubu’s recent stay abroad, Shettima said he remained in regular communication with the President and that developments in the country were continuously relayed to him.

“We have been in regular contact. We speak almost every other day, and we are updating him on developments in the nation,” he said.

Shettima added that the administration would continue to focus on governance despite increasing political activities ahead of the 2027 general elections.

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