Hardship: “There’s No Alternative, But We Empathize with Nigerians” – Shettima

At the Nigeria Economic Summit held in Abuja, Vice President Kassim Shettima expressed empathy for the struggles Nigerians are facing due to recent economic reforms, assuring that both he and President Bola Tinubu understand the difficulties.

In his speech, Shettima acknowledged the widespread hardship, particularly among the poor and youth, but stressed that the government’s reforms are essential for long-term economic stability and growth.

“Our hearts go out to Nigerians, especially the poor and young, enduring difficult times,” Shettima said. “But we have no option if we must return Nigeria to the path of sustainable economic growth.”

The Vice President pointed out that Nigeria’s economy has been overly dependent on oil for decades and has struggled to generate enough jobs for its growing population. In response, Shettima highlighted the government’s efforts to diversify the economy by focusing on agriculture, manufacturing, and the digital economy.

He also outlined steps to support small and medium-sized businesses, enhance infrastructure, and remove regulatory barriers. Notably, the administration has introduced single-digit interest loans for manufacturers and established a new credit corporation to provide consumer loans to workers.

On security, Shettima emphasized the government’s commitment to tackling terrorism and banditry. He also cited fiscal measures, such as the removal of fuel subsidies and improved debt management, as critical to stabilizing the economy.

Shettima called for stronger collaboration between the public and private sectors to address Nigeria’s economic challenges. He emphasized that the Nigeria Economic Summit is a vital platform for fostering dialogue and producing actionable recommendations for national growth and stability.

“The challenges are significant, but they are manageable,” Shettima concluded. “With the right policies, partnerships, and cohesion, Nigeria can emerge stronger, more competitive, and resilient.”