Emmanuel OchayiNigeria’s Vice President, Kashim Shettima, has hailed President Bola Tinubu’s economic decisions during the first 100 days in office, attributing them to positive outcomes.
Speaking at the 16th Annual Banking and Finance Conference in Abuja, themed ‘Nigeria’s Economic Growth and Empowerment: The Role of The Financial Services Industry,’ Shettima emphasized the substantial benefits reaped from the removal of petrol subsidies and the unification of the exchange rate.
With a sense of pride, Shettima announced, “I must announce with pride that our decisions are already yielding tangible results, with both state and federal governments now enjoying more substantial allocations.”
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Shettima, the special guest of honor at the conference, addressed the audience on the topic of ‘Our Priorities in a Post-Pandemic World.’ His remarks came just weeks after the National Economic Council, which he chairs, approved a N5 billion fund for states and the Federal Capital Territory to procure food items for distribution to the poor.
Highlighting the potential direct and positive impact on Nigerians’ lives, Shettima emphasized how the absence of fuel subsidies would allow Nigeria to allocate savings to more deserving causes.
He stated, “We envision a future where no leader can resort to the tired excuse of ‘scarcity of funds’ to evade completion of projects or delayed salary payments. Nigeria is crafting a story where the welfare of our people takes precedence, and financial accountability reigns supreme.”
Seeking stronger collaboration with experts in the Banking and Finance industry, Shettima stated, “We must now do what pessimists may regard as impossible; turning the economy around in record time. We seek your partnership in getting this done. We cannot take your support for granted.”
Shettima stressed that the path to economic rejuvenation cannot be undertaken in isolation and called for robust partnerships with strategic nations and multilateral organizations.
He noted, “It is a call to forge robust partnerships with strategic nations and multilateral organizations, for in unity, Nigeria can reposition itself as a formidable, globally competitive partner.”
Recognizing the pivotal role of banking and finance in rejuvenating the economy, Shettima urged stakeholders to join in serving the nation.
He highlighted the government’s ‘Eight-Point Agenda,’ which prioritizes food security, poverty eradication, economic growth, job creation, access to capital, improved security, a level playing field, the rule of law, and the fight against corruption.
The President of the Chartered Institute of Bankers, Mr. Ken Opara, also praised President Bola Tinubu’s reform initiatives, citing subsidy removal, forex unification, infrastructure investment, support for agriculture, SME promotion, and tax reforms as measures that, if well implemented, could unlock Nigeria’s economic potential.
The event was attended by notable figures, including the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu; Chairman, of the Senate Committee on Capital Market, Sen. Osita Izunaso; Acting Governor of the Central Bank of Nigeria, Mr. Folashodun Shonubi, and World Bank Representative in Nigeria, Mr. Shubam Chaudhuri, among others.
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