Vice President Kashim Shettima has issued a warning, stating that it is unsettling to learn that Nigeria would be vulnerable to floods in 2024 and urging all parties involved to take serious precautions and exercise attention in order to lessen the impact.
While the pain caused by flooding may be natural, the vice president revealed that proactive steps must be taken to “prevent this annual cycle of loss of lives and properties.”
Shettima spoke on Thursday during the 141st meeting of the National Economic Council (NEC) at the Presidential Villa, Abuja.
The NEC meeting also deliberated on the impact of Micro, Small, and Medium Enterprises (MSMEs), with the vice president, saying that it remains the backbone of the Nigerian economy.
On the MSMEs, he said: “As we plan for stability, we must remember that the backbone of our economy isn’t solely composed of our big corporations. While these entities play a vital role in tracking the nation’s productivity and employment data, it is our Micro, Small, and Medium Enterprises (MSMEs) that should keep us awake at night.
“Accounting for about 96% of all businesses in the country and contributing 49% of the national GDP, MSMEs are the backbone of our economy. The past few months of our efforts to mend the economy have caused disruptions that have sent shockwaves throughout the industry. We cannot afford to ignore this reality; immediate intervention is essential to mitigate the damage and ensure their survival.”
To achieve President Tinubu’s promise to create jobs and eradicate poverty, VP Shettima noted that access to capital must be a central driver of the target.
