Shettima defends Tinubu’s economic reforms, says Nigeria is ready for business

By Kunle Sanni –

Vice President Kashim Shettima has declared that the bold economic reforms introduced by President Bola Tinubu are in the best interest of Nigerians, insisting that the administration remains committed to creating an enabling environment for serious business and investment.

Speaking on Wednesday during a courtesy visit by the newly elected leadership of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Senator Shettima highlighted key policy moves such as the removal of fuel subsidy, the realignment of Nigeria’s multiple exchange rate system, and ongoing tax reforms as crucial steps toward long-term economic stability.

“I can assure you that Nigeria is ready for business, and you are the drivers of change,” Shettima told the NACCIMA delegation, led by its National President, Engr. Jani Ibrahim, at the Presidential Villa in Abuja. “This is how great nations build; this is how Korea became what it is.”

He emphasised that President Tinubu, a former financial controller at Mobil, understands the language of commerce and has made difficult choices with Nigerians’ welfare in mind.

“Fuel subsidy had been an albatross around the neck of successive administrations. He (President Tinubu) had the courage and conviction to withdraw it,” the Vice President said. “The oil cabal fought back, but he stood his ground because it was in the best interest of the Nigerian people.”

Earlier, NACCIMA President Jani Ibrahim, who was elected during the association’s 65th Annual General Meeting in Ilorin, praised the Tinubu administration’s efforts to engage the private sector and called for deeper collaboration.

He urged the federal government to institutionalise regular engagement with the private sector through bi-annual consultations and requested that private sector representatives be included in government councils and technical bodies dealing with trade, industry, privatisation, and MSMEs.

“National prosperity is anchored on strong collaboration between government and the private sector,” Ibrahim said. “We respectfully request a mechanism for regular engagements between the organised private sector and your office.”