Shettima said Tinubu took hard decisions to protect the country’s economic future.
Vice President, Kashim Shettima, has vowed that President Bola Tinubu's administration will not his predecessor, President Muhammadu Buhari, for the challenges encountered after taking over.
Buhari handed over the reins to Tinubu on May 29, 2023, after the former had completed his two-term eight-year tenure, which many Nigerians have described as not so good a period for the country.
However, despite the unfavourable assessment of the preceding administration, Shettima reiterated that Tinubu will take full responsibility for his government's actions.
He disclosed this while speaking during the second Chronicle Roundtable, organised by the 21st Century Chronicle on Thursday, May 2, 2024.
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Shettima says Tinubu's decisions in Nigeria's best interests
The Vice President noted this current period is the most difficult time for any political leader in Nigeria due to the myriad of challenges facing the country.
He stressed that Tinubu refused to apply a placebo to the prevalent challenges but took a bitter pill to secure the country’s economic future.
“The president chose the option that will save the lives of the people instead of the ones that will lead to the prolong the economic death. We will not resort to put the blame on previous administration as leadership is about courage, continuity.
“Before we took charge, the biggest elephant in the room was about fuel subsidy removal. It was an albatross round the neck of the nation for the past 20 to 30 years. We understood why our predecessor decided to remove subsidy because there were no sufficient budget for it in the fiscal year.
“A year before we took office, Nigeria’s debt service to revenue ratio had grown to 111.18 percent. It was an economic death sentence. To be plain to us, our debt service was that if you earn N100,000, you are forced to borrow an additional N11,800 to pay the debtor. How do we intend to survive this? It will be long before we become a pariah,” he stated.
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Shettima defends petrol subsidy removal
Speaking further, the Vice President said the subsidy regime saw the diversion of resources from critical sectors and laced with corruption masterminded by few elements.
He also touched on Tinubu's economic reforms, recalling how a presidential candidate (Atiku Abubakar) recommended Argentina as a model the Federal Government should adopt.
“We have to jettison the subsidy regime, it was a bitter pill to swallow but we had to do it.”
“A presidential candidate in the last election, eager to mock our economic trajectory once pointed Argentina as a model to Nigeria and became an overnight market specialist. He was convinced that we have missed our way and should have adopted the ways of our friends in South America.
“Barely two weeks, we watched as Argentina’s inflation rate surged. We respect what the president is doing there but governance is not photocopying,” he added.
