Vice President Kashim Shettima said on Tuesday that the sweeping economic reforms introduced by President Bola Ahmed Tinubu demonstrate both political resolve and responsiveness to the concerns of Nigerians.
He made the remarks at the 66th Annual Conference of the Nigerian Economic Society (NES), noting that while the reforms are difficult, they remain the most effective remedy for the nation’s persistent economic challenges.
“Nigeria is, of course, not exempt from Africa’s economic tragedies. But our silver lining is the listening ear of His Excellency, President Bola Ahmed Tinubu,” Shettima told the gathering.
The Vice President likened the reforms to “painful but necessary surgery” intended to correct structural weaknesses and lay the foundation for lasting recovery. He also called on African nations to move beyond outdated economic models and embrace knowledge-driven systems to accelerate growth and reduce unemployment.
Shettima added that global pressures such as geopolitical tensions and supply chain disruptions, though daunting, could be harnessed as opportunities for economic renewal. He acknowledged the inflationary effects of the reforms and global crises but reaffirmed the government’s commitment to cushioning the impact on vulnerable groups. According to him, this will be achieved through investment-friendly policies and social protection programmes across transportation, healthcare, and education.
The Minister of Budget and Economic Planning, Abubakar Bagudu, commended Shettima’s role in advancing the reform agenda and pledged that the NES would be fully integrated into the ministry’s long-term development strategies.
Alhaji Idi Mukhtar Maiha, the Minister of Livestock Development, pointed to the vast opportunities in Nigeria’s livestock industry, describing the sector as “the next crude oil.” He expressed readiness to collaborate with the NES in delivering the Renewed Hope Agenda.
The President of the NES, Prof. Adeola Adenikinju, reaffirmed the society’s commitment to supporting the administration in driving national economic transformation. He explained that reforms within the NES were designed to position it as a “bridge between research and policy” and as a trusted partner in shaping Nigeria’s future.
Also present at the conference was Dr. Eric Kehinde Ogunleye of the African Development Institute, who lauded Nigeria’s strategic role in the continent and endorsed the administration’s economic policies. Several government officials and economic experts attended the event, underscoring its significance to the national policy conversation.