Tinubu managing Nigeria’s money very well – Shettima

Kashim Shettima, the Vice President of Nigeria, has disclosed that President Bola Tinubu has performed well in the management of the nation’s resources as well as maintaining transparency in financial dealings.

Shettima, made this known on Thursday, at the 141st meeting of the National Economic Council (NEC) held at the Presidential Villa in Abuja, cited the earlier ranking by global credit rating agency, Fitch, which upgraded Nigeria’s credit outlook to positive, describing it as a reflection of increasing confidence in the nation’s economy.

The Vice President stressed that the government’s accountability in financial matters and its efforts to enhance economic stability.

The presence of members from the Institute Chartered Accountants of Nigeria, he said, further underscored the commitment to transparency and accountability in public financial management (PFM).

The meeting, which attracted state governors, among others, deliberated on various economic issues, particularly focused on bolstering support for Micro, Small, and Medium Enterprises (MSMEs) across the country.

Shettima stressed the pivotal role of MSMEs in driving economic growth, accounting for a significant portion of the nation’s businesses and GDP.

Addressing the challenges faced by MSMEs amid recent economic disruptions, Shettima emphasized the need for immediate interventions to ensure their survival and prosperity.

He reiterated the government’s determination to create jobs and alleviate poverty, emphasizing the importance of providing access to capital for small businesses.

Highlighting the potential of digital technology in empowering small businesses, Senator Shettima emphasized ongoing initiatives such as the Investment in Digital and Creative Enterprises (iDICE) program aimed at enhancing the competitiveness of local businesses in the global market.

In addition to economic concerns, the meeting also addressed the issue of flooding, with Shettima calling for proactive measures to mitigate the impact of potential disasters.

He emphasized the importance of preparedness and prevention in tackling annual flooding incidents that have ravaged communities across the nation.

In addition, Shettima declared the beginning of the implementation phase of the Human Capital Development (HCD) Programme, indicating the government’s dedication to investing in human capital development.

The meeting also received updates on the state of several financial accounts, such as the Excess Crude Account, Stabilization, and Development of Natural Resources accounts, demostrating the government’s efforts to ensure prudent financial management.