Aug 4, 2026

Shettima Says Tinubu Deserves Commendation, Not Condemnation for Reforms

By Afolabi Idowu Olaiya in business

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Asaba, Delta State – August 4, 2026 — Vice President Kashim Shettima has declared that President Bola Tinubu deserves commendation, not condemnation, for the bold economic reforms introduced by his administration.

Shettima made the remarks on Monday while speaking at the Delta State Economic and Investment Summit held in Asaba.

He pointed to the significant recovery in Nigeria’s foreign reserves and a shift from capital flight to capital inflows as clear evidence that the reforms are beginning to bear fruit.

From Capital Flight to Capital Inflows

The Vice President recalled the dire economic situation the Tinubu administration inherited in 2023. Nigeria’s foreign exchange reserves stood at about $35 billion when the government assumed office.

By June 2026, reserves had climbed to $51.03 billion — the highest level since January 2009 — and Shettima said the figure had since crossed $52 billion and was still rising.

“When we were experiencing capital flight and capital scarcity, now we are experiencing capital inflows,” he said. “Our foreign reserves have gone up to over $52 billion and counting in a turbulent world. I think the President deserves commendation and not condemnation.”

Praise for Governor Soludo

Shettima also singled out Anambra State Governor Chukwuma Soludo for special commendation.

He praised Soludo for publicly explaining the economic challenges the country faced and for supporting the Federal Government’s reform agenda, even when it was unpopular.

He noted that Soludo had gone “against the wind” during the 2023 presidential contest by insisting that victory would come through grassroots support rather than blackmail and intimidation.

Call for Investment Partnership

The Vice President assured investors that the Federal Government remains ready to support credible investments and work with states to remove bottlenecks to enterprise.

He described the growing number of state-level investment summits as a healthy sign of competition among sub-national governments.

Delta State Governor Sheriff Oborevwori used the same platform to announce that his administration had set aside $100 million as viability gap funding to de-risk new investments.

The state has also earmarked over 12,000 hectares of farmland for agricultural development.

Balancing Pain and Progress

While many Nigerians continue to feel the impact of subsidy removal, exchange rate unification and other structural reforms, Shettima’s message was clear: the short-term hardship is part of a necessary transition toward a more stable and productive economy.

As the debate over the Tinubu administration’s economic direction intensifies ahead of 2027, the Vice President’s strong defence underscores the government’s determination to stay the course while highlighting measurable gains in external reserves and investor confidence.