Economic Hardship: The Worst Is Over, Shettima Tells Nigerians


Vice President Kashim Shettima says Nigeria’s economy is on the path of recovery after stuttering in recent months.

Inflation figures were placed at 37 per cent in February, pushing the cost of living to a new high amid protests in some parts of the country for the government to address the situation.

But at the launch of the National Design and Innovation Competition at the Presidential Villa in Abuja, Shettima said better days are ahead for the country’s economy.

In a Wednesday statement by his media aide Stanley Nkwocha, Shettima was quoted as saying that “the worst is over”.

With the nation’s currency rebounding against the dollar in recent weeks, the VP is optimistic about more gains for the naira in the coming days.

“President Bola Ahmed Tinubu is making robust plans to see that all issues of insecurity are addressed,” Shettima was said to have told the gathering on Tuesday.

READ ALSO: [Hardship] Nigerians Must Unite Beyond Tribe, Religion And Political Affiliations – Obi



VP Shettima: We Will Provide Enabling Environment For Our Youths To Thrive

…Launches National Design and Innovation Competition

The Vice President, Sen. Kashim Shettima
, has hailed the pivotal role of youths and creativity in shaping Nigeria’s future, declaring that innovation is the driving force behind the nation’s manufacturing sector and its boundless potential.

VP Shettima who spoke on Tuesday during the official launch of the National Design and Innovation Competition in the Presidential Villa, emphasized that “the future belongs to the youth and the creatives.”

According to him, Nigeria’s youthful population, with an average age of just 19 years old “ is an age group that is pregnant with ideas for innovation and for the social and economic transformation of Nigeria.”

He said, “Innovation drives manufacturing and Nigeria is brimming with possibilities and opportunities.”

The National Design and Innovation Competition which aims to spur entrepreneurship and creative ventures among Nigeria’s burgeoning youth population is organised by the Interior Designers Association of Nigeria
in partnership with the Bank of Industry
, Wema Bank
and other related industry sector players.

The Vice President pledged federal government’s support for youth aspirations and entrepreneurship, commending the financial institutions’ backing of the creative sector.

He announced plans to include young innovators in the government’s $617.7 million Investment in Digital and Creative Enterprises (i-DICE) programme.

“It’s not the size that matters but it’s the drive and commitment of the leadership. I want to assure you that we are going to capture you in the $617.7 million i-DICE programme. This is just the beginning of our partnership. We will continue the engagement,” VP Shettima stated.

Addressing economic concerns, the Vice President declared that “the worst is over”, noting that the naira would continue to stabilize in the coming weeks and months, as the President Bola Tinubu administration tackles issues like food security, nutrition and insecurity.

“President Bola Ahmed Tinubu is making robust plans to see that all issues of insecurity are addressed,” Shettima said.

In her remarks, leader of the delegation and Founder of the Interior Designers Association of Nigeria (IDAN), Titi Ogufere
, announced plans by IDAN and the Design Innovation Hub of Nigeria, in collaboration with the Federal Ministry of Arts, Culture, and Creative Economy to train one million youths in furniture, product and industrial design.

This initiative which aims to equip aspiring creatives with the necessary skills and access to training will feature design competitions and workshops where participants can showcase their prototypes and work with top Nigerian manufacturers like AFP by Julius Berger, TRT Aredo, Wood Styles, IO Furniture, and Nettetal.

Stanley Nkwocha
Senior Special Assistant to The President on Media & Communications
(Office of The Vice President)
27th March, 2024

Emmanuel Egobiambu

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