The Federal Government has stated that it does not plan on changing its economic policies.
The Vice President, Senator Kashim Shettima said the government empathises with the poor, but the economic policies are inevitable.
He stated this in Abuja on Monday during the 30th anniversary of the Nigerian Economic Summit.
He defended the economic policies of the current administration, while highlighting steps taken by the government to improve the economy.
Shettima said, “Some of the policy decisions, the policy options available are painful, but they are almost inevitable.
“My heart and the heart of President Bola Tinubu go to the Nigerian people. We empathise with what the poor and the young are going through in the Nigerian nation but we have no option.
“Some of these decisions are unpopular but the truth is most often the truth that men prepare not to hear.”
Speaking further, the vice president said the nation’s growth trajectory has been volatile, stressing that the economy is reliant on oil revenue.
“Like many other nations, Nigeria has experienced significant economic problems over the past few years. The challenges have been global as well as domestic, ranging from the COVID-19 pandemic and fluctuation of oil prices to internal security issues, inflation and structural weaknesses in our economy.
“Nigeria’s growth trajectory has been volatile, heavily dependent on oil revenue and unable to create enough jobs,” he added.
