Vice President Kashim Shettima on Monday defended the economic reforms of President Bola Tinubu’s administration, saying the government’s policy decisions have strengthened Nigeria’s economy and significantly increased the country’s foreign reserves.
Speaking at the Delta Economic and Investment Summit in Asaba, Shettima said the administration inherited a difficult economic environment characterised by capital flight and low external reserves but had succeeded in reversing the trend through ongoing reforms.
“From reserves of $3bn, when we were experiencing capital flight and capital scarcity. Now, we are experiencing capital inflows, so that our foreign reserves have gone up to about $52bn and counting in a turbulent world, mind you. I think the President deserves commendation and not condemnation,” he said.
The Vice President also praised Anambra State Governor, Chukwuma Soludo, for publicly supporting the Federal Government’s reform agenda and helping Nigerians understand the economic realities inherited by the Tinubu administration.
“Professor Soludo, you have done a lot of things for the Federal Government, especially by informing Nigerians where we are coming from,” Shettima said.
He further commended the Anambra governor for his position during the 2023 general elections, saying Soludo stood firm despite political pressure and had gone “against the wind.”
Shettima described the growing number of investment summits being organised by states as a positive development, noting that increased federal allocations and improved fiscal conditions had strengthened sub-national governments and enhanced their ability to attract investments.
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