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May 30, 2024

Shettima urges real investments, partnerships for Nigeria, not handouts

Vice-President Kashim Shettima declares that Nigeria has moved beyond the need for handouts from developed economies and is now actively seeking real partnerships and investments.

Shettima spoke at the ongoing UN Food Systems summit in Rome, according to a statement on Monday.

The vice-president referencing Napoleon Bonaparte, a French military commander, and political leader, said recent economic policies such as the subsidy removal and the unification of the country’s foreign change system, have put Nigeria on a pedestal for mutually beneficial partnerships rather than handouts.

Napoleon Bonaparte once said, ‘China is a sleeping giant. Let her sleep, for when she wakes, she will shake the world.’ 

He said, “President Bola Tinubu is poised to redefine the meaning and concept of modern leadership in Nigeria, the Giant of Africa, which had woken up from its slumber and is now poised to move the world.

“Nigeria needs no handouts but real partnerships. We have removed the albatrosses of fuel subsidies and multiple exchange rates from our necks; hence, we are seeking investments for mutually beneficial partnerships, not handouts.”

Tinubu since he ascended to power has introduced critical reforms in attempts to fulfill his campaign promises of economic prosperity.

The president, in a rousing speech on May 29, declared the termination of petrol subsidy payments.

On June 14, the Central Bank of Nigeria announced the unification of all segments of the forex exchange (FX) market, implying that the exchange rate will rise or fall based on market forces.

Tinubu, at a civic reception organised in his honour by the Lagos state government, said he decided to unify the official and parallel market rates to save the country from financial hemorrhage.


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