Nigeria’s Vice President, Kashim Shettima, has lauded President Bola Ahmed Tinubu’s courage in ending the long-standing fuel subsidy regime, describing it as a bold move resisted by powerful interests.
While referencing how previous governments struggled with the issue of fuel subsidy, Shettima hailed Tinubu’s courage and conviction in ending the era, despite an alleged oil cabal’s efforts to stop the move.
The VP stressed that his principal stood his ground because he acted in the best interest of the Nigerian citizens.
“While the fuel subsidy had been an albatross around the neck of successive administrations, he had the courage and conviction to remove it. The oil cabal fought back, but he refused to budge. He stood his ground because he acted in the best interest of Nigerians,” Shettima stated while hosting members of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) at the Presidential Villa, Abuja.
Shettima declared that the policy reforms rolled out by President Tinubu’s administration, though painful, are necessary steps taken in the best interest of Nigerians.
Naijaonpoint reports that the NACCIMA delegation, led by its new National President, Jani Ibrahim, paid a courtesy visit to the Vice-President to discuss collaborative opportunities between the government and the private sector.
Highlighting the administration’s commitment to economic revitalisation, Shettima assured business leaders that the current government is creating a more enabling environment for serious investments to thrive.
“I can assure you that Nigeria is ready for business, and you are the drivers of change,” the Vice-President said.
“I plead guilty to romancing with the business community, the manufacturing and productive sectors. This is how great nations are built; this is how Korea became what it is.”
Shettima emphasised key economic decisions taken by President Tinubu, including the removal of fuel subsidy, realignment of Nigeria’s multiple exchange rate systems, and comprehensive tax reforms—all of which, he said, are being implemented to stabilise the economy.
According to Shettima, Tinubu’s background in the business world has made him particularly attuned to the needs of the private sector.
“The current administration is your own because the President speaks your language, the language of commerce. He grew up in that ecosystem, understands how businesses are run, and was the financial controller at Mobil,” he stated.
NACCIMA President Seeks Stronger Partnership
Earlier in his remarks, Jani Ibrahim thanked Shettima for his leadership, especially in his capacity as chairman of the National Economic Council (NEC), the National Council on Privatisation (NCP), and the Presidential Enabling Business Environment Council (PEBEC).
“National prosperity is anchored on strong collaboration between the government and the private sector. We recognise the private sector as the engine of growth while the government sets the enabling framework,” Ibrahim said.
He called for more structured engagement between the private sector and the Vice-President’s office, proposing bi-annual consultative sessions to align policies with business needs.
Ibrahim also requested the inclusion of private sector representatives on key national councils and technical bodies, especially those dealing with trade, industrial development, privatisation, and MSMEs.
Naijaonpoint recalls that Ibrahim was elected President of NACCIMA and Chairman of the Organised Private Sector (OPS) during the group’s 65th Annual General Meeting held in Ilorin, Kwara State, last month.
The meeting between both parties underscores a renewed commitment by the federal government to deepen collaboration with Nigeria’s business community as the administration works to reposition the economy amidst global headwinds and domestic challenges.