Shettima Defends Tinubu’s Reforms, Says Nigeria Escaping “Fiscal Trap”

Vice President Kashim Shettima says Tinubu’s economic reforms are helping Nigeria escape a long-standing “fiscal trap,” despite growing hardship and rising living costs across the country.

By Oghenekaro Efemena Oteri

Vice President Kashim Shettima has defended the economic reforms introduced by President Bola Ahmed Tinubu’s administration, stating that Nigeria is gradually recovering from what he described as a long-standing “fiscal trap” that weakened the nation’s economy over the years.

Speaking during a recent public engagement, Shettima said the administration inherited severe economic challenges, including rising debt pressures, fuel subsidy burdens, foreign exchange instability, and declining government revenues. According to him, the government’s ongoing reforms are designed to stabilize the economy, attract investment, and create a more sustainable financial system for the country.

The Vice President acknowledged that some of the policies introduced by the administration have placed short-term pressure on Nigerians, especially amid rising inflation and the increasing cost of living. However, he insisted that the reforms were necessary to prevent deeper economic collapse and to reposition Nigeria for long-term growth.

Among the major policy decisions highlighted by the administration are the removal of fuel subsidy, exchange rate reforms, efforts to boost local production, and measures aimed at improving government revenue generation. The government maintains that these steps are already helping to strengthen public finances and restore investor confidence in Africa’s largest economy.

Shettima further argued that previous economic structures were unsustainable and heavily dependent on borrowing and subsidy spending, leaving the country trapped in recurring fiscal crises. He noted that the current administration is focused on building a more productive and resilient economy capable of supporting future development.

Despite the government’s assurances, many Nigerians continue to face economic hardship as inflation, transportation costs, and food prices remain high across the country. Critics of the administration have also questioned the pace at which ordinary citizens are expected to feel the impact of the reforms.

Economic analysts remain divided on the long-term outcome of the policies. While some believe the reforms could eventually stabilize Nigeria’s economy and improve fiscal discipline, others warn that the government must urgently address rising poverty and unemployment to prevent growing public frustration.

Still, the presidency continues to insist that the difficult decisions being taken today are necessary sacrifices for Nigeria’s economic recovery and future stability.