BASSETERRE: Prime Minister The Hon. Dr. Terrance Drew announced progress on revenue sharing discussions and the innovative ASPIRE program during a press conference on October 7, 2025, emphasizing transparency and economic development for the federation.
Prime Minister Drew, addressing media representatives in a roundtable format, detailed ongoing efforts to equitably distribute revenue, particularly from the Citizenship by Investment (CBI) program, between St. Kitts and Nevis. He noted that the federal cabinet has reviewed a World Bank report on the issue, which has been shared with the Nevis Island Administration for further study. “The constitution has a formula,” Drew said, explaining that after covering common services like national security, 25% of taxable revenue is allocated to Nevis and 75% to St. Kitts, based on population. He stressed that CBI, a major non-tax revenue source, will be shared in line with constitutional guidelines, with a meeting planned to finalize details.
The Prime Minister also highlighted the ASPIRE program, a financial literacy and investment initiative for youth aged 5 to 18. With over 5,000 applicants and 4,000 accounts opened, the program allocates $500 in savings and $500 in local company shares per child.
“We’ve spent over $4 million on our youth,” the Prime Minister stated, noting financial training sessions for teachers at Washington Archibald and Basseterre High Schools, with plans to expand to Nevis and primary schools. The program, supported by the Eastern Caribbean Central Bank, aims to transform financial education and empower future generations.
Drew addressed concerns about a health center project in St. Peter’s, citing legal disputes from the previous administration, and clarified that the existing facility was refurbished. He also refuted rumors that the Ritz-Carlton had withdrawn from a $250 million hotel project, emphasizing government’s efforts to relocate vendors on the site to ensure a “win-win” outcome. The project promises hundreds of jobs and a significant GDP boost.
On the international stage, the PM discussed his upcoming role as CARICOM chairman in 2026 and his advocacy for stronger Africa-Caribbean ties, including trade and educational exchanges. He highlighted St. Kitts and Nevis’ visa-free access to Nigeria and ongoing UN diplomacy, particularly on climate justice and Haiti’s security resolution.
The Prime Minister called for media to counter misinformation and enhance public discourse.
The press conference, part of the government’s transparency initiative, underscored Drew’s commitment to inclusive development and global engagement, positioning St. Kitts and Nevis as a proactive small nation.