Vice-President Kashim Shettima has highlighted the positive outcomes resulting from President Bola Tinubu’s administration’s policy implementations. Shettima made these remarks during the opening of the 16th annual banking and finance conference in Abuja on Tuesday, as reported by NAN.
Shettima emphasized that both the federal and state governments are now benefiting from more substantial financial allocations. He pointed out that in July, following the removal of the petrol subsidy, the Federation Account Allocation Committee (FAAC) distributed a historic N907 billion from the N1.9 trillion revenue generated among the three tiers of government.
He further noted that these funds hold the promise of making a direct and positive impact on the lives of citizens, as the savings previously consumed by unaccounted fuel subsidies can now be redirected toward more deserving causes.
Looking to the future, Shettima envisioned a scenario where leaders could no longer use the excuse of “scarcity of funds” to delay project completions or salary payments. He stressed that Nigeria is actively crafting a narrative where the welfare of its people takes precedence, and financial accountability is of paramount importance.
Shettima also underscored the importance of cooperation with stakeholders to bolster the nation’s economy, emphasizing that this journey of economic rejuvenation cannot be embarked upon in isolation. He called for robust partnerships with strategic nations and multilateral organizations, as he believed that unity would allow Nigeria to establish itself as a formidable and globally competitive partner.
Furthermore, Ken Opara, the President of the Chartered Institute of Bankers (CIB), expressed his commendation for the federal government’s initiatives taken thus far. He highlighted reform measures such as subsidy removal, unification of the foreign exchange regime, investments in infrastructure, promotion of agriculture, support for SMEs, and tax reforms as initiatives that, if effectively implemented, could unlock the economic potential of the country.