Vice-President Kashim Shettima has reaffirmed that President Bola Tinubu’s bold economic reforms are being implemented in the best interest of Nigerians, despite resistance from vested interests.
Shettima made the statement during a courtesy visit by the leadership of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) at the Presidential Villa in Abuja. The delegation was led by NACCIMA National President, Jani Ibrahim.
Addressing the group, Shettima highlighted the administration’s commitment to economic revitalisation, pointing to key policy shifts such as the removal of the fuel subsidy, reforms to unify the exchange rate system, and an overhaul of Nigeria’s tax regime.
“I can assure you that Nigeria is ready for business, and you are the drivers of this transformation,” he said. “The private sector, especially the manufacturing and productive industries, holds the key to our national development. This is how great nations like Korea achieved their status.”
The Vice-President described the reforms as necessary sacrifices for long-term economic stability, adding that President Tinubu has remained steadfast in the face of opposition.
“President Tinubu speaks the language of commerce—he understands business. His experience as a financial controller at Mobil shaped his understanding of the private sector’s role in national prosperity,” Shettima noted.
He particularly praised Tinubu’s decisive removal of the fuel subsidy, calling it a courageous move that successive governments had failed to execute.
“That subsidy was a burden to the nation, and despite strong resistance from oil cabals, the President stood firm and acted in the public interest,” he said.
In his remarks, NACCIMA President Jani Ibrahim commended Shettima’s leadership of major economic bodies such as the National Economic Council (NEC), National Council on Privatisation (NCP), Bureau of Public Enterprises (BPE), the Presidential Enabling Business Environment Council (PEBEC), and the Micro, Small and Medium Enterprises (MSME) councils.
He stressed the importance of strong collaboration between government and the private sector, describing the latter as the “engine of growth.”
Ibrahim proposed regular bi-annual consultative forums between the private sector and the Vice-President’s office, and advocated for the inclusion of private sector representatives on strategic government councils and technical bodies related to trade, industry, privatisation, and MSME development.
