Vice President Kashim Shettima has defended President Bola Tinubu’s economic policies, saying the administration inherited an economy that was on the verge of collapse and had to take difficult decisions to prevent a deeper crisis.
Speaking during an interview with Western Times on October 3, Shettima said Nigeria’s foreign reserves stood at about $3.9 billion when the administration assumed office, describing the figure as insufficient to cover the country’s fuel import needs for a month.
He said Tinubu’s decision to remove the fuel subsidy and harmonise multiple exchange rates was necessary to stabilise the economy, despite the immediate impact on Nigerians.
According to Shettima, the President “saved our economy” by taking what he described as difficult but far-reaching decisions at a critical time.
The Vice President acknowledged that the reforms had increased economic pressure on citizens but said the government was implementing measures to ease the burden.
“Tough times do not last forever. Tough people do,” Shettima said.
He pointed to initiatives such as the planned deployment of 10,600 electric tricycles across the North-East, as well as 300 electric buses and taxis, as part of efforts to reduce transportation costs.
Shettima also described the Nigerian Education Loan Fund as a major intervention, saying NELFUND would help students from low-income families gain access to higher education.
