Vice President Kashim Shettima has said that those who lost out as a result of the removal of subsidies are determined to frustrate government policies and programs.
Shettima said this at the 16th Annual Banking and Finance Conference organized in Abuja by the Chartered Institute of Bankers of Nigeria (CIBN).
Responding President Bola Tinubu’s commitment to its decisions, policies, and programs, Shettima stated that the removal of the subsidy is irrevocable.
On the outcome of the recent government policies and programs, especially the removal of subsidies, Shettima said;
“I must announce with pride that our decisions are already yielding tangible results, with both state and federal governments now enjoying more substantial allocations.
“These funds promise a direct and positive impact on the lives of our citizens. Without the serially unaccounted fuel subsidies, we can now redirect our savings towards more deserving causes.
“We must now do what pessimists may regard as impossible: turning the economy around in record time. We seek your partnership in getting this done. We cannot take your support for granted.
“This journey towards economic rejuvenation is not one to be undertaken in isolation. It is a call to forge robust partnerships with strategic nations and multilateral organizations, for in unity, Nigeria can reposition itself as a formidable, globally competitive partner.
“We have promised to reposition consumer finance, and that can’t be done without you. We have promised to incentivise and finance value-addition to our agricultural and other products, and you are our ally in this. We need you because Nigeria teeters on the edge of a precarious balance of payments as we import more than we export.
“The future is already here and this industry is a springboard for the success of our reforms and programs. Whether in incorporating blockchain technology, or expanding financial inclusion to deliver dividends of democracy to banking and unbanked citizens, Nigeria is here to occupy the high table in a fast-changing world.”
On the administration’s “Eight-Point Agenda”, Shettima said;
“We have resolved to prioritize food security and ending poverty. We are prioritizing economic growth and job creation. We are prioritizing access to capital and improving security.
“We are prioritizing improving the playing field on which people and particularly companies like yours operate. We are also prioritizing the rule of law and the fight against corruption. Each agenda cannot be fully implemented without your cooperation.”