Vice President Kashim Shettima has credited President Bola Tinubu’s economic policies with preventing Nigeria from sliding into economic collapse, saying the country was at risk of “falling into pieces” when the administration took office.
Shettima made the remarks on Saturday, October 3, 2026, after meeting with President Tinubu at his residence in Ikoyi, Lagos.
The Vice President said Nigeria’s foreign reserves were below $3.9 billion when the Tinubu administration assumed office in 2023, arguing that the figure was insufficient to cover the country’s fuel import needs for even one month.
The economy was actually on the verge of collapse. He saved the economy,” Shettima said.
He defended some of the administration’s most controversial economic measures, particularly the removal of the petrol subsidy and the reform of the foreign exchange system.
According to Shettima, Tinubu had the “courage and conviction” to implement what he described as difficult but necessary decisions.
“I want Nigerians to understand this fundamental truism. We were on the road to Caracas. He saved our economy; he saved the nation from falling into pieces,” he said.
Government Plans More Relief Measures
Shettima acknowledged the economic hardship facing Nigerians but said the government was working on programmes designed to reduce the impact on households and businesses.
“We appreciate the pains Nigerians are going through, but tough times do not last forever; tough people do,” he said.
He announced that the government would roll out several initiatives in the coming weeks, including an e-logistics programme in the North-West and the deployment of 10,600 electric tricycles in the North-East.
The government also plans to introduce 300 buses and e-taxis as part of measures aimed at easing transportation costs and improving mobility.
Shettima said the initiatives reflected Tinubu’s concern for ordinary Nigerians.
“In the next couple of weeks, we are going to launch e-logistics in the North-West. We are going to launch 10,600 electric tricycles to ease the pains of the people in the North-East, and 300 buses and e-taxis,” he said.
Opposition Challenges Government’s Claims
Shettima’s comments come amid continued debate over the impact of the Tinubu administration’s economic policies.
In his Independence Day address, Tinubu said Nigeria was moving towards prosperity. Opposition figures, however, have disputed the assessment.
African Democratic Congress (ADC) leader Atiku Abubakar accused the administration of worsening poverty since taking office in 2023, while Nigeria Democratic Congress (NDC) leader Peter Obi said Nigerians were facing increased hardship, hunger and insecurity.
The Lagos meeting between Tinubu and Shettima was their first public interaction since the President returned from his European vacation and the Vice President returned from the 81st United Nations General Assembly in New York.
The administration says its reforms are laying the foundation for long-term economic growth, while critics continue to demand faster and more tangible relief for Nigerians.
