Nigeria’s Vice President, Kashim Shettima, has stated that President Bola Tinubu’s economic decisions during his first 100 days in office have started yielding positive results. Shettima made these remarks at the 16th Annual Banking and Finance Conference, themed ‘Nigeria’s Economic Growth and Empowerment: The Role of The Financial Services Industry.’
He highlighted the positive outcomes of the removal of petrol subsidies and the unification of the exchange rate, noting that both the state and federal governments are now enjoying more substantial allocations. Shettima emphasized that these decisions have provided an opportunity to redirect savings toward more deserving causes and address issues like project completion and timely salary payments.
The Vice President sought stronger partnerships with experts in the banking and finance industry, emphasizing that collaboration is essential to turning the economy around quickly. He acknowledged that Nigeria cannot undertake the journey toward economic rejuvenation in isolation and called for partnerships with strategic nations and multilateral organizations.
Shettima outlined the role of the banking and finance sector in rejuvenating the economy, particularly in areas such as consumer finance, agricultural value addition, and financial inclusion. He also mentioned the government’s eight-point agenda, which includes priorities like food security, poverty eradication, economic growth, job creation, and improving the business environment.
The President of the Chartered Institute of Bankers, Ken Opara, commended President Tinubu’s reform initiatives, including subsidy removal, forex unification, infrastructure investment, support for agriculture, SME promotion, and tax reforms, noting that if implemented effectively, these reforms could unlock Nigeria’s economic potential.
The conference was attended by various government officials, including the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, and the Acting Governor of the Central Bank of Nigeria, Mr. Folashodun Shonubi, among others.