Nigeria Needs You Now – Shettima Tasks Diaspora On Tinubu’s Economic Reforms

• Vice President Kashim Shettima has called on Nigerians in the Diaspora, particularly those in the United States, to move beyond remittances and become active partners in the country’s economic transformation through investment, expertise and technology transfer.

• Shettima defended President Bola Tinubu’s reform agenda, saying the administration chose to confront inherited economic challenges through difficult decisions rather than engage in blame games, while pointing to rising foreign reserves and economic growth as signs of improvement.

• The Vice President told Nigerians abroad that foreign reserves had climbed from $3.9 billion to more than $55 billion and that the economy grew by 4.45 percent in the latest quarter, arguing that stronger reserves and improved exchange-rate conditions would bolster investor confidence and protect Diaspora investments and remittances.

• He also cited the disbursement of ₦125 billion to more than 1.29 million tertiary students through NELFUND, while assuring the Diaspora that the government was deploying resources to tackle insecurity and calling for national unity as Nigeria pursues its development goals.

September 24, () – Vice President Kashim Shettima has urged Nigerians living abroad to take a more active stake in the country’s economic transformation, asking the Diaspora to invest capital, transfer expertise and help project Nigeria’s interests in the global economy.

Shettima made the appeal on Wednesday while addressing Nigerians in New York on the sidelines of the 81st United Nations General Assembly.

The meeting brought together members of the Nigerian Diaspora and senior government officials to discuss investment, skills transfer, national development and Nigeria’s economic and diplomatic interests.

The Vice President said Nigerians abroad possessed the knowledge, professional experience and resources required to contribute meaningfully to the country’s development, describing the Diaspora as “the greatest resource of the future”.

“Citizens of our country have the capacity and intellect to harness our nation’s potentials and take it to greater heights,” he said.

Shettima used the engagement to defend the economic direction of the Tinubu administration, arguing that the President chose to confront difficult economic realities rather than blame his predecessor for the country’s problems.

“When President Tinubu assumed office, he did not resort to trading blame and accusing his predecessor for the state of affairs of our nation. Rather, he took decisions that only a leader of courage and conviction would take”, Shettima said.

The administration has, since taking office in May 2023, introduced major economic reforms, most notably the removal of the petrol subsidy and changes to the foreign exchange regime. The reforms have fundamentally altered the pricing of petrol and the operation of the foreign exchange market, while also contributing to significant economic adjustments that have affected households and businesses.

Shettima told the Diaspora community that the government’s policies were beginning to produce measurable gains. He said the country’s foreign reserves had risen from $3.9 billion to more than $55 billion, while the economy recorded 4.45 percent growth in the latest quarter.

According to him, the improvement in reserves and exchange-rate conditions would strengthen confidence in the Nigerian economy, protect remittances and make it easier for Nigerians abroad to invest in the country.

‘Nigeria Is Open For Business’

The Vice President also sought to counter what he described as negative narratives about Nigeria, insisting that the country remained open to investors.

“We are working day and night to reposition the Nigerian nation as investment confidence is returning to Nigeria, and the Dangote Refinery success story is a true manifestation in recent times. Be rest assured that beyond the negative stories that you hear and see on social media, Nigeria is open for business. We have crossed the rubicon, and we are on the path of sustained growth”, he said.

Shettima said the Federal Government was working to redefine modern governance and position Nigeria to take advantage of emerging opportunities in the global economy.

The appeal to the Diaspora comes as the administration seeks to attract more foreign capital and deepen investment in productive sectors, particularly at a time when Nigerians abroad remain significant contributors to the country’s external financial inflows through remittances.

Shettima said the government would continue to leverage the expertise of Nigerians abroad in sectors including education, healthcare, agriculture, science and technology.

He stressed that Diaspora engagement should go beyond financial remittances, with Nigerians abroad also contributing through knowledge, innovation, entrepreneurship and professional networks.

The Vice President said the administration was taking steps to reposition the economy in these strategic sectors and would require the contribution of Nigerians at home and abroad to achieve its objectives.

₦125bn NELFUND Intervention

On education, Shettima disclosed that more than 1.29 million students in tertiary institutions had accessed ₦125 billion through the Nigeria Education Loan Fund since the scheme began.

He said the intervention was part of the administration’s broader effort to expand access to education and develop the human capital required to drive economic growth.

Education, healthcare, science and technology and agriculture, he said, remained among the sectors receiving attention as the government seeks to reposition the economy.

Security, National Unity

Shettima also acknowledged Nigeria’s continuing security challenges, saying the Federal Government was deploying available resources to confront emerging threats.

He urged Nigerians to remain united and work collectively towards national development, arguing that the country’s common interests should take precedence over its differences.

“Whatever binds us together supersedes whatever divides us as a people”, he said.