Vice President Kashim Shettima has lauded President Bola Tinubu’s leadership, emphasizing that his administration’s decisive economic policies—particularly the removal of petroleum subsidies—are setting Nigeria on a path to becoming a global economic powerhouse.
Speaking at the Presidential Villa while receiving a delegation from the Harvard Kennedy School Alumni on a Nigeria-Ghana Trek, Shettima reassured Nigerians that the government is implementing measures to mitigate the challenges resulting from subsidy removal. These include investments in alternative energy sources and green technology to enhance living standards.
“We are investing massively in green technology—electric buses, electric cars, and electric tricycles. Just two weeks ago, the Federal Executive Council approved N158 billion for the procurement of these items for the North East, and the initiative will be replicated in other regions,” the Vice President stated.
The Harvard delegation, led by Sheffy Kolade, highlighted their interest in understanding Nigeria’s trajectory as the most populous black nation. The visit aimed to provide firsthand insights into the country’s economic policies and governance.
Addressing trade and economic diversification, the Minister of Trade, Industry, and Investment, Dr. Oduwole, underscored Nigeria’s commitment to reducing its dependency on oil by prioritizing technology and leveraging trade agreements like the African Continental Free Trade Area. She noted that while oil and gas remain key revenue sources, technology now contributes about 70% to Nigeria’s GDP.
Special Adviser to the President on Energy, Mrs. Olu Verheijen, also emphasized ongoing structural reforms in the energy sector. She acknowledged that despite the sector constituting less than 10% of Nigeria’s GDP, it remains crucial for foreign exchange earnings and fiscal stability.
The discussions reinforced the government’s commitment to economic transformation through innovation, trade expansion, and sustainable energy solutions.
