Vice President Kashim Shettima has asserted that the administration led by President Bola Tinubu is committed to constructing a robust economy capable of enduring external shocks.
Speaking at the 30th Nigerian Economic Summit (NES30) in Abuja, themed “Collaborative Action for Growth, Competitiveness, and Stability,” Shettima emphasized that true stability involves proactive measures rather than merely responding to crises as they occur.
“It is crucial to recognize that stability extends beyond crisis management; it encompasses the development of a resilient economy that can weather various shocks,” he stated.
Shettima highlighted the necessity of economic diversification as a national priority and underscored the significant role of the NES group in this endeavor.
He explained that the current administration, under its Renewed Hope Agenda, is undertaking bold reforms aimed at fostering an environment conducive to sustainable economic growth and shared prosperity.
“Our emphasis is on sectors that promise inclusive and sustainable advancement, including agriculture, manufacturing, and the digital economy,” he remarked, noting the digital sector’s potential to invigorate the economy.
Citing a global finance consultancy, Shettima projected that there will be 65 million global talents by 2035, indicating an opportunity for Nigeria to capitalize on.
“I am delighted to share that we are making considerable progress in tackling critical issues such as regulatory hurdles and improving the ease of doing business,” he added. “This progress will enhance confidence in our collective ability to navigate challenges.”
Shettima reiterated the administration’s commitment to fostering an inclusive economy where small and medium-sized enterprises (SMEs) can flourish alongside large corporations, ensuring that all citizens, regardless of their background or location, can access economic opportunities.
“We have launched several initiatives, including MSME hubs and single-digit loans for manufacturers, aimed at empowering entrepreneurs,” he explained. “Additionally, we have introduced a credit corporation to provide consumer loans at single-digit interest rates for our workers.”
He concluded that these initiatives will collectively strengthen the economy, ensuring Nigeria remains competitive both within Africa and on the global stage.
