Subsidy removal faced resistance, but Tinubu stayed firm– Shettima

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Subsidy Removal Faced Resistance, But Tinubu Stayed Firm – Shettima


Vice President Kashim Shettima has reiterated that President Bola Tinubu’s bold economic reforms are being carried out in the best interest of the Nigerian people.

Speaking during a courtesy visit by the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) at the Presidential Villa in Abuja, Shettima highlighted the administration’s commitment to economic revival and creating a conducive environment for business.

According to the News Agency of Nigeria (NAN), the delegation was led by NACCIMA’s National President, Mr. Jani Ibrahim.

Shettima cited critical reforms such as the removal of fuel subsidy, unification of the exchange rate, and ongoing tax reforms as part of the government’s economic strategy. He emphasized Nigeria’s readiness for business and praised the role of the private sector as key drivers of national progress.

“I admit to being closely aligned with the business and manufacturing sectors. That’s how great economies like South Korea were built,” he said.

The Vice President also stressed President Tinubu’s unwavering commitment to these reforms, despite resistance from entrenched interests. He stated that Tinubu’s decisions, especially on fuel subsidy removal, were made in the public’s best interest.

“Shedding the fuel subsidy was a bold move. While previous governments struggled with it, President Tinubu had the resolve to act. The oil cabal pushed back, but he stood firm,” Shettima noted.

Earlier, Mr. Ibrahim said he was recently elected as NACCIMA President and Chairman of the Organised Private Sector (OPS) at the association’s 65th AGM in Ilorin. He commended Shettima’s leadership of major economic bodies, including the National Economic Council (NEC), National Council on Privatisation (NCP), and the Presidential Enabling Business Environment Council (PEBEC).

He stressed the importance of strong public-private collaboration for national development, proposing regular consultations between NACCIMA and the Vice President’s office. He also called for private sector representation on key government councils related to trade, industry, and SMEs.

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