Vice-President Kashim Shettima has acknowledged the hardship Nigerians are experiencing under the Tinubu administration’s economic reforms, urging citizens to be patient while defending the difficult decisions taken by the Federal Government.
Shettima, who spoke in Lagos on Saturday after meeting President Bola Ahmed Tinubu following his return to Nigeria from his annual vacation, said the administration inherited an economy under severe financial pressure in 2023.
He said the situation demanded decisions that were politically difficult but, in the government’s view, necessary to avert a deeper economic crisis.
Shettima cited the removal of petrol subsidy and the unification of multiple exchange rates as some of the major measures taken by the administration, arguing that Tinubu showed the political courage required to implement them.
“When we assumed the mantle of leadership, our foreign reserves was a staggeringly low $3.9 billion that was not enough to import fuel for one month,” he said.
According to him, the country was “teetering on the verge of collapse” when the administration assumed office, insisting that the reforms were aimed at preventing a more severe economic breakdown.
“The economy was teetering on the verge of collapse. He saved the economy. I want Nigerians to understand this fundamental truism,” Shettima said.
The Vice-President urged Nigerians to be “generous” in their assessment of Tinubu, referring to the President as “this poor man” who, according to him, inherited difficult economic circumstances and took far-reaching decisions to address them.
“We were on the road to Caracas; he saved our economy; he saved the nation from falling into pieces,” he said.
Shettima, however, recognised the immediate consequences of the reforms on citizens, acknowledging that Nigerians were going through significant economic pain.
“We appreciate the pains Nigerians are going through, but tough times do not last forever; tough people do,” he said.
He also defended Tinubu’s ability to remain engaged with affairs of state while abroad, saying technological advances had made it possible for leaders to maintain effective communication and exercise oversight from different locations.
“We are quite thrilled that he’s back on the beat,” Shettima said, adding that advances in science and technology had enabled “impactful leadership wherever one might find himself.”
The Vice-President’s comments came as the administration continues to defend its economic policy direction amid concerns over the cost of living and the effects of the reforms on households and businesses.
He urged Nigerians to consider both the difficulties associated with the reforms and the economic conditions the government said it inherited when assessing Tinubu’s stewardship.
Shettima maintained that the administration’s decisions were taken against the backdrop of what he described as an economy facing severe financial constraints, and appealed for patience as the government pursued its reform agenda.
