Vice President Kashim Shettima voiced his confidence in the ongoing appreciation of the Nigerian Naira against the US Dollar. The sentiment reflects a broader outlook on the nation’s economic stability and the government’s commitment to financial reforms….CONTINUE READING
According to a report by The Nation, Mr. Stanley Nkwocha, the spokesperson for the Vice President, relayed Shettima’s remarks, highlighting the administration’s resolve to address economic challenges and foster sustainable growth. Shettima underscored the significance of President Bola Tinubu’s strategic decisions, particularly in ending fuel subsidies and unifying the exchange rate system, to curb exploitative practices that generated undue wealth for a select few.
Shettima remarked, “Naira went haywire and some people were celebrating but inwardly we were laughing at them because we knew that we have the leadership to reverse the trend.” This statement reflects the administration’s commitment to prudent economic management and its ability to navigate volatile financial landscapes.
Shettima lauded the former Lagos State governor’s visionary leadership, which laid the groundwork for sustained development in the state. He reiterated the administration’s dedication to overcoming challenges in critical sectors, particularly in addressing the nation’s power deficit, emphasizing the pivotal role of electricity in driving economic growth and employment opportunities.
Shettima’s assurance of Tinubu’s alignment with the business community’s interests underlines the government’s commitment to fostering collaboration and creating an enabling environment for entrepreneurship and investment. “In this government, you have an ally and a friend,” he affirmed, emphasizing the administration’s determination to facilitate economic prosperity and social advancement.
Gabriel Idahosa, President of LCCI, emphasized the imperative for the federal government to adopt innovative approaches to tackle the prevailing insecurity challenges and accelerate economic recovery. He urged the Tinubu administration to implement targeted interventions, including concessional lending facilities, loan guarantees, and interest rate subsidies, tailored to support small and medium enterprises (SMEs) and key sectors such as agriculture, manufacturing, and technology.
