Vice-President Kashim Shettima has declared that Nigeria has moved away from economic distress and is now on a path toward renewal, stability and shared prosperity.
Shettima made the remarks on Thursday in Abuja at a national convening and report launch on Strengthening the Nexus Between Democracy and Economic Growth in Nigeria, organised by the Goodluck Jonathan Foundation.
Represented by his Special Adviser on General Duties, Dr Aliyu Modibo, the Vice-President said the administration of President Bola Tinubu inherited an economy burdened by structural distortions, including fuel subsidy obligations and foreign exchange challenges.
He noted that the reforms being implemented, though difficult, were necessary to prevent further economic decline.
“President Tinubu’s reforms have been guided by the recognition that an economy cannot be made stronger by feeding the practices that are draining it,” he said.
Shettima acknowledged the short-term pains of the reforms but maintained that they are yielding long-term gains, stressing that Nigeria is “back from the economic brink.”
He said the government’s efforts to restore fiscal stability, improve transparency and rebuild confidence in economic management were part of a broader national recovery strategy.
The Vice-President also highlighted ongoing social interventions such as the Nigerian Education Loan Fund, expanded social investment programmes and consumer credit schemes aimed at cushioning the impact of reforms on citizens.
He reiterated the administration’s commitment to strengthening local governance, stressing that democratic benefits must reach rural communities as well as urban centres.
“We are going nowhere unless the rural and remote parts of the nation enjoy the same democratic benefits as their urban counterparts,” he said.
Shettima also emphasised that democratic success should be measured not only by economic indicators but by improvements in citizens’ welfare and trust in governance.
In his remarks, Secretary to the Government of the Federation, George Akume, said Nigeria’s socio-economic reforms were showing encouraging signs of progress.
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Represented by Ibrahim Kana, Permanent Secretary in the SGF Office, Akume called for stronger democratic institutions, credible elections, improved legislative oversight and enhanced transparency in public spending.
He commended former President Goodluck Jonathan and the Foundation for promoting dialogue on the relationship between democracy and economic development, assuring that the federal government would continue to engage stakeholders in strengthening inclusive growth
