The Vice President, Sen. Kashim Shettima has declared that those who ceased to rip off the nation as a result of the removal of subsidy are determined to frustrate government policies and programmes.
He made the accusations in Abuja at the 16th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN).
Sen. Shettima said the Bola Ahmed Tinubu administration remains committed to its decisions, policies and programmes and vowed that the removal of subsidy is irrevocable.
Addressing the audience, Vice President Shettima stated that “we know the consequences of unveiling a masquerade. We know the fuel scam industry is a very hugely loaded industry, they will make every efforts to undermine us but as I said earlier the removal of fuel subsidy is irrevocable; truly we are in dire straits”.
Speaking on the consequences of recent government policies and programmes especially the removal of subsidy, Sen. Shettima said “I must announce with pride that our decisions are already yielding tangible results, with both state and federal governments now enjoying more substantial allocations.”
“These funds promise a direct and positive impact on the lives of our citizens. Without the serially unaccounted fuel subsidies, we can now redirect our savings towards more deserving causes”.
He however, called on the banking community to join the government in rejuvenating the economy.
- CBN Releases Revised Fees Chargeable on Interbank Transfers, Slash ATM Charges
The Central Bank of Nigeria has announced a downward review…Read More “CBN Releases Revised Fees Chargeable on Interbank Transfers, Slash ATM Charges” »
- Kwara Gov signs 2022 budget as CAPEX hits 56%
•budget prioritizes project completion, workers’ welfare•House commends govt for prudence…
“We must now do what pessimists may regard as impossible: turning the economy around in record time. We seek your partnership in getting this done. We cannot take your support for granted.”
“This journey towards economic rejuvenation is not one to be undertaken in isolation. It is a call to forge robust partnerships with strategic nations and multilateral organizations, for in unity, Nigeria can reposition itself as a formidable, globally competitive partner.”
On the ‘Eight-Point Agenda’ of the Tinubu Administration, Shettima said “we have resolved to prioritise food security and ending poverty. We are prioritising economic growth and job creation. We are prioritising access to capital and improving security.
“We are prioritising improving the playing field on which people and particularly companies like yours operate. We are also prioritising the rule of law and the fight against corruption. Each agenda cannot be fully implemented without your cooperation.”
In his remarks, President of the Chattered Institute of Bankers, Mr Ken Opara said the event which has grown to become the largest gathering of banking and finance professionals in Africa, provides the platform for professionals to come together to drive conversation on topical issues that are critical to the growth of the Nigerian economy.
He praised the reform initiatives of President Bola Tinubu, noting that “the reform initiatives such as subsidy removal, unifying the foreign exchange regime, investing in infrastructure, promoting agriculture, supporting SMEs and tax reforms, among others, if well implemented will unlock the economic potentials of the country.”
In his address,the Chairman, Body of Bank CEOs and Managing Director of Zenith Bank Mr. Ebenezer Onyeagwu called for deliberate action from commercial banks and development banks in Nigeria to support small and medium-sized enterprises (SMEs) and promote economic growth.
He argued that commercial banks should not be solely responsible for financing and supporting SMEs, as this would not lead to progress and development.
He suggested that “development banks should also share the risk and support SMEs, as a collective effort is needed to grow these businesses”.
Minister of Budget and Economic Planning Senator Abubakar Atiku Bagudu in his address said the government has resolved to make the annual budget plan-based and noted that the banking sector is well placed to contribute to national growth.
