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We Won’t Hold the Former Administration Responsible for Our Failings

May 6, 2024 | Politics | 0 comments

During the second Chronicle Roundtable organized by the 21st Century Chronicle, Vice President Sen Kashim Shettima emphasized that the current challenges facing Nigeria cannot be solely attributed to the Buhari-led administration.

Acknowledging the complexities of political leadership amidst the nation’s difficulties, Shettima highlighted the government’s prioritization of saving lives over economic concerns during these trying times.

He underscored the necessity of addressing long-standing issues, such as the removal of fuel subsidies, which had burdened the nation for decades. Shettima explained the dire economic implications, including a staggering debt service to revenue ratio, which prompted the government’s decision to abolish the subsidy regime despite its unpopularity.

Regarding economic reforms, Shettima dismissed comparisons to other countries, emphasizing the need for a tailored approach to Nigeria’s unique challenges. He cited Argentina as an example, where economic instability ensued shortly after being touted as a model for Nigeria.

Shettima also highlighted successful interventions by the Central Bank of Nigeria (CBN) and the National Security Adviser (NSA) to counter influential currency manipulators, thereby stabilizing the Naira and preventing its further depreciation.

The Vice President’s remarks underscored the government’s commitment to making tough decisions and implementing reforms aimed at steering Nigeria towards economic stability and growth.

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