Vice President Kashim Shettima has assured that the current economic challenges facing the country will soon be over and urged Nigerians to react to the current realities “in a responsible and mature manner.”
He added that the consequences of our past are the stark realities we face today, such as the rising cost of living as well as pessimism over the government’s ability to turn the economy around for growth and development.
Shettima, who was represented by his Special Adviser on Political Matters, Dr. Hakeem Baba-Ahmed, stated this during the 29th pre-Ramadan lecture organised by the University of Lagos Muslim Alumni (UMA) with the theme, “Economic Reforms for Nigeria: Challenges and Prospects for the Future,” held at the main auditorium of the University of Lagos.
Shettima noted that the forthcoming Ramadan would come with “severe” challenges for many Nigerians, adding that the current reforms might be challenging, but the government has no intention to punish Nigerians.
He said, “The leadership of President Tinubu recognizes that this Ramadan will come with severe challenges for most Nigerians. The road to where we are today was long and full of missed opportunities and tragic failures to build on our great potential.
“The consequences of our past are the stark realities we face today, such as rising cost of living and pessimism over our prospects to turn around our economy in the direction of growth and inclusive development.
“Yet, my brothers and sisters, we do not have the choice of continuing in the direction that brought us where we are today. We have to fix this country, and failure to do this is not an option. All the options we have are difficult and challenging, and they are, without a doubt, more telling on the poor. If there are easier and reliable alternatives to the policy choices we have adopted, we would have adopted them.
“Our administration does not plan to make the lives of Nigerians more difficult. Nor do we intend to deceive fellow citizens that the change in direction and the expected outcome can be achieved without pain or sacrifices.
“We are also acutely aware that ours is a set of related Nigerian problems, and the solutions we seek must be genuinely informed by a Nigerian context, not the experiences of others or the preferences of special foreign interests which are removed from consequences of mis-steps or errors of judgement.
“Fellow alumni, I appeal to you to help make space for our administration to achieve the goal of turning our nation around. As products of a distinguished institution, we have learnt that progress is only possible if it is informed by criticism and critical scrutiny.
“We expect that Nigerians should express their feelings over our circumstances in a responsible and mature manner. We are also a deeply religious people, and we believe in the powers of faith and prayers. Let us be reminded that Allah tests His servants with ease and hardship, and He asks that we pray to Him for relief from hardship, and discipline in times of abundance.
“I join you in praying that Allah will grant us the privilege of undertaking our Ramadan fast as prescribed by Him, and we shall receive the reward.”
Chairman of the occasion, Yusuf Ola-Olu Ali, represented by Deputy President of Muslim Ummah of Southwest Nigeria (MUSWEN), Alhaji Wale Sonaike, said any economic reform must be well thought out and diligently implemented, adding that Nigeria must transform from a consumption nation to a production nation.
Earlier in his welcome address, UMA President, Prof. Khalid Adekoya, expressed hope that the hardship would recede and better times would come when policies being introduced begin to yield good fruits.
Prof. Adekoya said this will materialise only if all stakeholders (government and the governed) “play their part in line with global best practices in rejuvenating an ailing economy and, above all, if we imbibe the fear of Allah in the true sense of it.”
He added, “However, we are obligated to take some practical steps as a nation. We must invest extensively and pragmatically especially in manufacturing and Agro-Allied industries. Manufacturing will promote local production, boost employment and reduce our dependence on imported goods. Agriculture will eliminate hunger and reduce crime and criminality.
“Government should also make concerted efforts to achieve fiscal and monetary policy consolidation to tackle inflation; strengthen our public services to improve efficiency and reduce corruption; improve the business environment to attract investment; fight insurgency and banditry to improve security nationwide.”