By Sabiu Abdullahi
Vice President Kashim Shettima has defended the economic reforms introduced by President Bola Ahmed Tinubu’s administration, saying the president should be applauded rather than criticised for the measures.
Shettima made the remarks on Monday during the Delta State Economic and Investment Summit in Asaba, the state capital.
He also praised Anambra State Governor Chukwuma Soludo for publicly supporting the Federal Government’s economic reforms. According to the vice president, Soludo stood by his convictions during the 2023 presidential election and argued that electoral victory would come through popular support rather than intimidation.
Speaking on the country’s economic outlook, Shettima said Nigeria had moved from a period of limited capital availability to one of growing investment inflows.
“Professor Soludo, you have done a lot of things for the federal government, especially in informing Nigerians where we were coming from — from reserves of $3 billion,” he said.
“When we were experiencing capital plight and scarcity, now we are experiencing capital inflows.
“Our foreign reserves have gone up to over $52 billion and counting in a turbulent world. Even the president deserves commendation and not condemnation.”
The vice president also assured investors that the Federal Government would continue to support genuine investments and work with state governments to remove barriers that hinder business growth.
Official figures show that Nigeria’s foreign exchange reserves stood at $35.09 billion on May 29, 2023, when the Tinubu administration took office. The reserves later rose to $51.03 billion in June 2026, which marked the country’s highest level since January 20, 2009.
