Vice President Kashim Shettima has reaffirmed the Federal Government’s commitment to strengthening collaboration with Nigeria’s business community, saying no administration can fully understand the economy without maintaining close engagement with employers.
Speaking at the fifth Nigerian Employers’ Summit in Abuja, Shettima said the government’s ongoing economic reforms are designed to create a more competitive business environment while reducing barriers that hinder investment and enterprise. The Shettima economy reforms agenda, he noted, seeks to ensure businesses experience policy improvements across the country. The Vice President was represented at the event by the Special Adviser to the President on General Duties and former Minister of the Federal Capital Territory, Dr. Aliyu Modibbo Umar.
According to Shettima, Nigeria is at a critical stage where difficult economic decisions are necessary to secure long-term growth. He said productive discussions around production costs, taxation, access to credit, exchange rates and infrastructure are essential because private businesses compete based on predictable policies, reliable energy, efficient infrastructure and fair taxation rather than sentiment.
Commending President Bola Tinubu’s economic direction, Shettima said responsible leadership requires both the vision to identify necessary reforms and the courage to implement them despite short-term challenges. He explained that the Shettima economy reforms focus on correcting structural weaknesses that previously affected investor confidence and economic stability.
The Vice President said the current administration inherited major economic challenges, including unsustainable fuel subsidy spending, foreign exchange market distortions and weak government revenue.
According to him, the removal of fuel subsidy and reforms in the foreign exchange market were intended to restore macroeconomic stability and improve transparency. He also said the government is pursuing fiscal and tax reforms aimed at reducing multiple taxation, harmonising tax administration, widening the tax base and encouraging voluntary compliance while supporting small businesses.
“The private sector asks only that government should not make doing business unnecessarily difficult. Every delayed approval and every unclear regulation imposes additional costs on enterprise,” he said. Shettima added that the Federal Government remains committed to reducing bureaucratic bottlenecks and digitising government services so businesses across Lagos, Kano, Aba and other parts of the country can benefit from ongoing reforms.
Director-General of the Nigeria Employers’ Consultative Association (NECA), Adewale Oyerinde, said the Employers’ Summit has consistently generated practical policy recommendations over the past five years.
He noted that the forum has strengthened engagement between government and the organised private sector while contributing to national discussions on economic growth, job creation and enterprise development. The Shettima economy reforms agenda continues to place private sector collaboration at the centre of efforts to improve Nigeria’s investment climate and drive sustainable economic growth.
