Just In: Shettima Speaks on Tinubu's Decision to Remove Fuel Subsidy, Restructure Tax System, Others
Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering public affairs and governance in Nigeria.
FCT, Abuja - The Vice President (VP), Senator Kashim Shettima, has said the "courageous and unavoidable reforms" being undertaken by the administration of President Bola Tinubu, are currently fixing Nigeria’s "structural weaknesses".
Shettima said, despite hardship, the reforms are a proof of the power of political will in economic policy.
Legit.ng reports that since taking office in May 2023, Tinubu has removed long-standing fuel subsidies, unified multiple exchange rates, restructured the tax system, and addressed central bank financing of budget deficits, policies aimed at fiscal discipline and economic liberalisation.
These moves boosted macroeconomic stability and investor confidence but they also brought painful consequences for citizens in soaring inflation and high cost-of-living.
On Tuesday, September 9, 2025, Shettima called on African nations to embrace the knowledge economy, saying it is a bridge to transform the continent’s economic growth and development through productivity beyond outdated explanations.
The Vice President who stated this in Abuja during the opening session of the 66th Annual Conference of the Nigerian Economic Society (NES) noted that while Nigeria is not immune to the economic morass Africa had long been enmeshed in, the nation’s comforting prospect is that it currently has a president with a listening ear.
He said:
“Nigeria is, of course, not exempt from Africa’s economic tragedies. But our silver lining is the listening ear of His Excellency, President Bola Ahmed Tinubu. Under his leadership, this administration has embarked on bold and inevitable reforms to address structural weaknesses that others before us only paid lip service to.
“These reforms testify to the power of political will in economic policy. Their painful but necessary consequences remind us that a malignant disease can only be cured by painful surgery. The wounds are temporary, but the recovery is permanent.”
VP Shettima stressed the need for African nations to get rid of the old-fashioned approach to their economy and embrace structural transformation if they must revive human capital challenges and reverse unemployment on the continent.
He said:
“We live in a world where a random citizen in Daura can outsource his services to a corporation in Dallas without seeing the inside of a plane or leaving his bedroom. But to catch up with this changing world, Africa must embrace structural transformation that reinvents its human capital and reverses unemployment.
“Poverty must be confronted head-on for the promise of this continent to be realised in the lives of our people. There is no justification for the low per capita income that afflicts our nations amidst the resources at our disposal.”
Lawyer forecasts Tinubu's successor
Earlier, Legit.ng reported that a prominent Lagos-based lawyer, Muhammad Adam, tipped Nuhu Ribadu, national security adviser (NSA), to succeed President Tinubu.
According to Adam, President Tinubu will complete two terms in office.
The legal practitioner predicted that Ribadu, and not Shettima, will take over from President Tinubu in 2031.
Don't miss out! Join Legit.ng's Sports News channel on WhatsApp now!
Source: Legit.ng
