Shettima Hails Tinubu’s Economic Reforms

Vice President Kashim Shettima has hailed the economic reforms under President Bola
Tinubu’s administration as some of the boldest in Nigeria’s history, emphasizing that they
are already delivering notable results.
Speaking through his Special Adviser on Economic Matters, Dr. Tope Fasua, Shettima made
the remarks on Tuesday during the opening of the 32nd Annual Meetings of the African
Export-Import Bank in Abuja.
Addressing a gathering of African leaders, policymakers, and business executives, the Vice
President highlighted that Nigeria is taking intentional steps to reposition its economy
through reforms aimed at enhancing transparency, resilience, and sustainable growth.
“Our administration is undertaking one of the most ambitious economic reform agendas in
Nigeria’s history,” he said. “Resilience doesn’t happen by chance it must be intentionally
planned, developed, and safeguarded.”
Shettima highlighted several key initiatives by the Federal Government, including the
unification of the foreign exchange market, the removal of fuel subsidies, the rollout of a
national compressed natural gas transition plan, and the launch of major infrastructure
projects like the Lagos-Calabar Coastal Highway and the Eastern rail corridor.
“We’ve unified the exchange rate by removing multiple FX windows, enhancing transparency
and restoring investor confidence. The elimination of fuel subsidies has saved billions,
allowing us to reinvest in social welfare and infrastructure,” he said.
He further noted that the government has overhauled the oil sector by introducing real-time
export tracking and improving revenue assurance through the Petroleum Cargo Declaration
Scheme.
He noted that support for small and medium enterprises had been restructured using digital
platforms aligned with the African Continental Free Trade Area.
“Though challenging, these measures are already making a difference. GDP is projected to
grow by 4 to 4.5 percent in 2025, inflation is stabilizing, and foreign reserves are improving.
Our economy is becoming more stable and diversified,” Shettima stated.
The Vice President praised Afreximbank for its role in Nigeria’s development, highlighting
that the country remains its largest beneficiary. He disclosed that while the bank has
disbursed over $100 billion across Africa, Nigeria alone has received more than $52 billion.