VP Shettima at NES Annual Conference: President Tinubu’s Bold Reforms, Proof of Political Will in Economic Policy

Says Africa can turn supply chain disruptions, trade protectionism into opportunities for transformation

Vice President Kashim Shettima has described the courageous and unavoidable reforms undertaken by the administration of President Bola Ahmed Tinubu as clear proof of the power of political will in economic policy.

Speaking on Tuesday at the opening session of the 66th Annual Conference of the Nigerian Economic Society (NES) in Abuja, the Vice President noted that while Nigeria is not immune to Africa’s economic challenges, the nation is fortunate to have a President with a listening ear who is committed to investment-friendly policies and social protection programmes.

“Nigeria is not exempt from Africa’s structural weaknesses. But our silver lining is the listening ear of President Bola Ahmed Tinubu. Under his leadership, bold and inevitable reforms are addressing challenges that others only paid lip service to. These reforms testify to the power of political will in economic policy. Though painful, they are necessary, and while the wounds may be temporary, the recovery is permanent,” he said.

Embracing Transformation

Shettima urged African nations to abandon outdated approaches to economic management and embrace structural transformation through human capital development and productivity.

“We live in a world where a citizen in Daura can outsource his services to a corporation in Dallas without ever leaving his bedroom. For Africa to catch up, we must reinvent our human capital and reverse unemployment. Poverty must be confronted head-on if the promise of this continent is to be realised,” he stressed.

He further observed that geopolitical conflicts, supply chain disruptions, the energy transition, and even the rise of artificial intelligence, though appearing as threats, could be turned into opportunities for transformation.

Commitment to Social Protection

Acknowledging the inflationary impact of the reforms and global spillovers, Shettima explained that policies in transportation, healthcare, and education are deliberately targeted at reducing inequality and protecting the vulnerable.

“Each policy is designed to cushion the weak and ensure no one is left behind. We must rethink how we invest in people, because they represent the greatest assets of the continent,” he advised.

NES and Government Collaboration

Earlier, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, praised the Vice President’s contributions to the realization of the Tinubu administration’s reforms. He assured that the NES would be fully integrated into the ministry’s programmes, particularly in the implementation of the National Development Plan and the Renewed Hope Agenda.

The Minister of Livestock Development, Alhaji Idi Mukhtar Maiha, also highlighted the vast potentials of Nigeria’s livestock sector, estimated at several billions of dollars, describing it as “the next crude oil.” He pledged readiness to partner with the NES in advancing reforms within the sector.

NES Achievements

In his remarks, the President of NES, Prof. Adeola Adenikinju, outlined the society’s milestones under his leadership, including:

• Establishing chapters across the 36 states, FCT, and the diaspora for grassroots engagement.
• Creating the NES Women’s Wing and Students’ Wing to broaden inclusivity.
• Repositioning the body as a bridge between research and policy.

He reaffirmed the Society’s commitment to partnering with the Tinubu administration in the pursuit of genuine transformation and sustainable development.

Support from AfDB

Also speaking, the Director of the African Development Institute, Dr. Eric Kehinde Ogunleye, emphasized that Nigeria holds a strategic position in moving Africa forward. He commended the Tinubu administration’s bold reforms, assuring that the African Development Bank remains committed to supporting Nigeria’s structural and economic transformation.

Dignitaries Present

Other dignitaries at the event included:

• Tope Fasua, Special Adviser to the President on Economic Affairs.
• Dr. Shamsudeen Usman, Chairman, MOFI Board.
• Prof. Uche Uwaleke, Nigeria’s first Professor of Capital Market Studies.
• Representatives of the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abass.
• Yemi Cardoso, Governor of the Central Bank of Nigeria.