Vice President Kashim Shettima asserted that the Nigerian economy would have deteriorated significantly without the recent policy shifts implemented by President Bola Tinubu. Shettima made these remarks during a gathering organized by the City Boy Movement, a group supporting the President’s reelection bid. According to Punch, the event took place at the Presidential Villa, where the Vice President attributed the nation’s recent economic stabilization to the head of state’s leadership.
Shettima pointed to specific macroeconomic indicators to support his assessment. He noted that gross domestic product expanded by 4.43 per cent in the most recent quarter and that foreign reserves are hovering near $60 billion. Punch reported that the National Bureau of Statistics recorded this growth rate for the second quarter, marking an increase from the previous year’s 4.23 per cent. Additionally, data from the Central Bank of Nigeria indicated external reserves stood at $55.07 billion as of October 9, a figure Shettima rounded up in his address.
While praising the administration, Shettima acknowledged that citizens have endured difficult times but argued the situation could have been worse. He suggested that critics of the government might be writing about a failing economy from abroad if the reforms had not been enacted. AllAfrica reported that Shettima specifically mentioned Dubai and New York as locations where these critics might reside. He urged the public to view the President’s actions as necessary measures rather than sources of criticism.
Looking ahead, Shettima predicted that the President would introduce robust responses to agricultural challenges in the coming weeks, which he said would lead to lower foodstuff prices. Punch noted that headline inflation stood at 14.63 per cent in September, a decrease from the previous month and a significant drop from the same period in 2025. However, food inflation remained higher at 19.59 per cent. Shettima also highlighted the Nigerian Education Loan Fund and infrastructure investments as part of the broader effort to reposition the economy.
The Vice President concluded by appealing to the youth to communicate the administration’s progress to the wider public. He described the President as having the courage and knowledge to make difficult choices that repositioned the country. The City Boy Movement, which organized the event, claims presence in all 36 states and the Federal Capital Territory, aiming to mobilize grassroots support for the January 2027 presidential election.