Vice President Kashim Shettima has declared that Nigeria has “crossed the rubicon” and is firmly on the path of sustainable economic development under President Bola Ahmed Tinubu’s administration.
Shettima attributed the development to the Federal Government’s ongoing macroeconomic reforms, stronger foreign exchange reserves, increased oil production and higher federal allocations following the removal of the petrol subsidy.
The Vice President spoke on Wednesday in Abuja when he received the management team of the University of Abuja, led by its Vice Chancellor, Prof. Hakeem Babatunde Fawehinmi.
He also cited recent upgrades to Nigeria’s sovereign credit ratings and outlooks by global rating agencies as evidence of growing confidence in the country’s economic direction.
Shettima said the positive developments were indications that the government’s economic reforms were beginning to yield results and place the country on a more sustainable growth trajectory.
On education, the Vice President described the Nigerian Education Loan Fund (NELFUND) as a landmark initiative of the Tinubu administration, saying it had provided crucial financial relief to children from less-privileged backgrounds.
According to him, NELFUND has become a vital social equaliser and an important mechanism for poverty alleviation and educational advancement.
He said the scheme’s coverage of tuition fees and provision of monthly upkeep allowances had helped remove financial barriers that previously prevented many students from accessing or remaining in tertiary institutions.
Shettima, recalling his experience as a student at the University of Maiduguri when food prices at the campus cafeteria surged, described NELFUND as a “very beautiful initiative” created to give “respite” and “breathing space” to children of poor Nigerians.
He said the scheme was helping to ensure that poverty was no longer an excuse for qualified Nigerians to be denied higher education.
The Vice President also commended the management of the University of Abuja for restoring stability to the institution after years of challenges.
He praised the leadership of Prof. Fawehinmi, saying the university was now standing on a solid foundation, and assured the institution of continued Federal Government support within its capacity.
Earlier, Fawehinmi commended Shettima for his support for the university and his contributions to the development of the Tinubu administration.
The Vice Chancellor described Shettima as a mentor whose leadership qualities had assisted the University’s Governing Board in managing the institution.
“We have always known you to be a highly cerebral and dynamic leader. We appreciate the generous strides you are making in the country. We are not surprised at your intellectual agility,” Fawehinmi said.
He also credited NELFUND with contributing to relative stability in the education sector, saying the initiative had enabled students to remain in school and meet some of their financial obligations.
Fawehinmi said the university’s management and Governing Council deemed it necessary to appreciate the Vice President for his continued support.
He acknowledged the institution’s difficult leadership history but said the current administration had worked to restore stability since assuming office eight months earlier.
“Our recent history in terms of leadership has not been very palatable. There have been issues to do with our checkered history, but in the last eight months when we came on board, we tried our very best to stabilize the university,” he said.