Vice President Kashim Shettima representing President Bola Tinubu on Tuesday said the naira would have strengthened to N1,000 to the dollar within weeks if not for the recent intervention by the Central Bank of Nigeria aimed at maintaining market stability.
Shettima spoke at the Progressive Governors forum (PGF)–Renewed Hope Ambassadors Strategic Summit held at the State House Conference Hall, Presidential Villa, Abuja.
According to him, the administration’s economic reforms have begun yielding measurable results, with inflationary pressures moderating and the currency showing signs of stability.
“In fact, if not for the interventions by the Central Bank of Nigeria yesterday, the N1,000 to a dollar, we are going to attain it in weeks, not in months. But for the purpose of market stability, the CBN generously intervened yesterday,” he said.
The Vice President described the intervention as a stabilising measure, adding that the broader economic fundamentals were improving.
“Our economy is picking up,” he stated, noting that five of the seven major investment decisions taken in Africa last year were made in Nigeria — a development he said reflected investor confidence in the country.
Shettima said the administration chose “the path of honesty and discipline” from inception, confronting structural distortions and restoring fiscal credibility.
He added that as the government moves into 2026, the focus would shift “from stabilisation to acceleration,” anchored on the N58.18tn budget, which he said includes record capital expenditure and the largest allocation to national security in Nigeria’s history.
The Vice President also highlighted landmark tax reforms aimed at protecting vulnerable Nigerians, encouraging enterprise and entrenching transparency in public finance, as well as a recent executive order designed to safeguard remittances to the federation account and eliminate duplicative structures.
While emphasising the economic gains, Shettima stressed that reforms would only succeed with public understanding and participation.
He stressed that no reform would succeed without public understanding and participation, charging the Renewed Hope Ambassadors to take the message of reform beyond conference halls to wards, markets and communities.
“Elections are not conducted on social media platforms. Elections are conducted by Nigerians who vote in their own language,” he said.
Earlier at the summit, the Secretary to the government of the federation, George Akume called for disciplined coordination and measurable delivery at the subnational level as the 2027 general elections approach.
He noted that progressive states now number 29 out of 36 and described SSGs as the “engine room” of state governments.
Akume outlined the eight priority areas of the Renewed Hope Agenda economic growth and job creation, food security, access to capital, ending poverty, national security, inclusivity, fairness and rule of law, and anti-corruption stressing that success hinges on implementation rather than policy design.
He urged states to establish delivery coordination units similar to the federal Central Results Delivery Coordination Unit, adopt commitment trackers and dashboards, define SMART deliverables for ministries, and institutionalise monthly and quarterly performance reviews.
“The strongest testament of leadership will be performance — demonstrable improvements in welfare, security, economic opportunity and social stability,” Akume said.
He added that citizens would demand proof of governance through completed projects, improved human development indicators and restored public trust.
Akume assured that the Office of the Secretary to the Government of the Federation stands ready to provide strategic support to states in policy coordination, performance tracking and intergovernmental collaboration.
