Shettima hails Tinubu reforms as turning point for Nigeria’s economy

By Kunle Sanni –

Vice President Kashim Shettima has said that the sweeping economic reforms being implemented by President Bola Tinubu’s administration are evidence of the political will to address Nigeria’s long-standing structural weaknesses.

Speaking at the 66th Annual Conference of the Nigerian Economic Society (NES) in Abuja on Tuesday, Shettima acknowledged the pain caused by the reforms but insisted they were necessary for sustainable recovery.

“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,” he said.

The Vice President also urged African nations to embrace the knowledge economy, noting that technology and innovation could help tackle unemployment and human capital challenges.

“A random citizen in Daura can outsource his services to a corporation in Dallas without leaving his bedroom. To catch up with this changing world, Africa must embrace structural transformation that reinvents its human capital,” Shettima said.

While admitting Nigeria is not immune to global crises, including inflationary pressures, trade protectionism, and supply chain disruptions, the Vice President argued these challenges could be turned into opportunities for growth.

He stressed that the Tinubu administration is committed to social protection programmes to cushion the vulnerable, with policies in education, healthcare, and transportation designed to reduce inequality.

Earlier, Minister of Budget and Economic Planning, Abubakar Bagudu, highlighted the integration of NES in national planning, while Minister of Livestock Development, Idi Mukhtar, described the livestock sector as “the next crude oil” for Nigeria’s diversification drive.

The NES President, Prof. Adeola Adenikinju, pledged continued partnership with the government to shape transformative policies, noting reforms within the society to broaden inclusivity and grassroots reach.