In an address during the recent 145th meeting of the National Economic Council (NEC), Vice President Kashim Shettima confronted Nigeria’s most significant economic and social issues, referring to them as ‘the elephants in the room.’
Addressing an audience of governors, ministers, and key economic figures, he pinpointed urgent areas requiring immediate and coordinated action, including tax reform, flood resilience, digital and creative industry expansion, energy infrastructure, and human capital development.
“Our discussions since assuming office last year have been a quest for stability,” Vice President Shettima remarked, recognizing the pressing nature of the previous months and the heavy responsibility resting on the Council. “What weighs on us the most is our commitment—both personally and collectively—to proactively tackle the challenges ahead.”
His comments set a serious tone for a meeting characterized by urgency and a unified resolve to confront these pressing issues.
Among the significant topics was tax reform. Vice President Shettima stressed the importance of recent changes initiated by President Bola Ahmed Tinubu, particularly concerning the Value Added Tax (VAT). He acknowledged that these reforms have generated considerable dialogue, stating, “Our aim is to expand our revenue sources, ensure economic stability, and lessen our reliance on a few sectors.” His observations struck a chord with attendees focused on strengthening financial resilience within Nigeria’s states and local economies.
Another pressing matter addressed by the Vice President was Nigeria’s susceptibility to natural disasters, especially flooding. With floods inflicting severe damage in numerous areas, he commended the proactive measures taken by the Ministry of Water Resources and the National Emergency Management Agency (NEMA).
He called on NEC members to enhance their dedication to flood mitigation efforts, saying, “Today challenges us to reaffirm our commitment to executing approved mitigation strategies, ensuring comprehensive reporting of flood damage by the states.” Vice President Shettima emphasized that collaborative action is crucial for developing sustainable solutions that safeguard lives, properties, and livelihoods.
