Vice President Kashim Shettima has emphasized the importance of removing fuel subsidies, unifying exchange rates, and implementing effective debt management strategies as part of a broader initiative aimed at restoring economic balance and ensuring long-term stability. He made these remarks in Abuja at the 30th Nigerian Economic Summit (NES30), themed “Collaborative Action for Growth, Competitiveness, and Stability.”
Shettima stated, “It is also important to note that stability is not just about managing crises as they arise. It is about building a resilient economy that can withstand shocks.” He highlighted the necessity for Nigeria to prioritize economic diversification to achieve this resilience.
During his address, he noted the crucial role of the NES group in the reform process. Shettima explained that the current administration, under its Renewed Hope Agenda, has embarked on bold reforms designed to create an environment conducive to sustainable economic growth and shared prosperity.
“Our focus is on sectors that can offer inclusive and sustainable growth, such as agriculture, manufacturing, and the digital economy,” he added. Shettima expressed optimism about the digital economy, citing projections from a global finance consultancy that predicts 65 million global talents by 2035.
“I am pleased to report that we are making significant strides in addressing several key issues, including regulatory and ease of doing business challenges,” he concluded.