Economy: There are forces that are causing the hardship – VP Shettima

VAM News February 21, 2024 in National Tagged economy, Vp Shettima - 2 Minutes

Some unscrupulous people are working to undermine the efforts of the President Bola Tinubu administration to revamp the Nigerian economy.

The Vice President, Sen. Kashim Shettima disclosed this at the Public Wealth Management Conference, in Abuja, Tuesday.

Pointed accusing fingers at smugglers and politicians as brains behind the attempt to pull the nation backward.

The VP disclosed that 45 trucks loaded with maize were intercepted while making their way to neighbouring countries at midnight on Sunday.

According to him, “Just three nights ago, 45 trucks of maize were caught being transported to neighbouring countries. Just in that Ilela axis, there are 32 illegal smuggling routes. And the moment those foodstuffs were intercepted, the price of maize came down by N10,000. It came down from N60,000 to N50,000.

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“So, there are forces that are hell-bent on undermining our nation, but this is the time for us to coalesce into a singular entity.

“We have to make this country work. We have to move beyond politics. We are now in the face of governance.

“Sadly, some of our countrymen are still in the political mode. They are the practitioners of violence, advocating that Nigeria should go the Lebanon way. But, Nigeria is greater than anyone of us here. Nigeria will weather the storm.

“Forces are hell-bent on plunging this country into a state of anarchy. Those who could not get to power through the ballot box, instead for them to wait till 2027, are so desperate.”

The vice president admitted Nigerians were passing through challenges and appeal for patience, as he expressed confidence that thing would soon change for the better.

In his address, the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed that the Federal Government would audit the N23 trillion Ways and Means.

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Ways and Means is the expression for money borrowed by the federal government from the Central Bank of Nigeria (CBN).

According to the Minister, the decision to audit the federal government debt to the CBN was to ensure that the federal government was not made to pay for funds it did not spend.

The Minister said that the administration was working hard to make the Nigerian business space more attractive to investors by eliminating all unnecessary taxes.

Mr. Esun also said all Government Owned Enterprises (GOEs) would be made to up their game revenue generation.

In addition, Nigerian National Petroleum Corporation Limited, he disclosed has been asked to improve oil output with a view to increasing oil revenue in the country.