16TH PRESIDENT OF NIGERIA Sworn-In!
I’ll defend Nigeria from terror, end extreme poverty-Tinubu
…fuel subsidy is gone immediately under my administration forever, I will review and unify exchange rates
*‘We will discourage corruption, empower anti-corruption agency and introduce credit culture practices as done Overseas to make life easier for the people to whom power belong’
*“We will create One Million jobs for the Nigerian youths in a digital economy without a waste of time”
*BY SAMSON SHOAGA/GROUP Managing Editor, Nigeria reporting LIVE from Abuja
NEWLY SWORN-IN PRESIDENT of the Federal Republic of Nigeria, ASIWAJU BOLA AHMED TINUBU has vowed that he is well prepared to defend Nigeria from all forms of terror, as well as end extreme poverty in the country forever.
Tinubu made this known while delivering his inaugural speech as the 16th President of Nigeria at the Eagle Square today (Monday).
On how he will accomplish his mission, he said: “I will do that through job creation and food security and end extreme poverty. I will ensure that corruption is tackled by strengthening anti-corruption agencies.”
For the records, Tinubu earlier said his predecessor and former President Muhammadu Buhari has done his best for Nigeria.
He said, “Permit me to say a few words to my predecessor, President Muhammadu Buhari. You have been an honest man and patriotic leader. Buhari has done his best for the nation.”
Tinubu was sworn in as the 16th President of the Federal Republic of Nigeria.
Similarly, Kashim Shettima was also sworn in as the Vice President of Nigeria.
Chief Justice of the Federation, Olukayode Ariwoola administered the oath of office to the President at 10:40 am, shortly after the Vice President took his oath of office.
President Bola Tinubu on Monday said the era of fuel subsidy is gone in Nigeria.
Tinubu who made the assertion while delivering his inaugural speech as the 16th President of Nigeria also disclosed that his team will disclose the key aspect of the economic policy for his administration.
His words: “We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We will create One Million jobs in a digital economy for our youth.
“We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.”
He also spoke on revamping Nigeria’s economy by ensuring budgetary reforms and promised to make electricity more accessible by encouraging various state governments to participate in power generation. He added that his government will review various multiple taxation.
Nigeria’s new president, Bola Ahmed Tinubu has promised that his administration will discourage corruption through the introduction of a credit culture.
Tinubu stated this while delivering his inaugural speech as the 16th President of Nigeria at the Eagle Square today (Monday).
The president said, “Our government will continue to take proactive steps such as championing a credit culture as done Abroad to discourage corruption while strengthening the effectiveness and efficiency of the various anti-corruption agencies.”
Tinubu also suspended subsidy payments on fuel, adding that such an era is gone.
He said the 2023 Budget made no provision for fuel subsidy and more so, subsidy payment is no longer justifiable. Nigeria’s 16th president also promised a “unified exchange rate” and vowed to rid Nigeria of terrorism and criminality.
Tinubu has said that his administration will review the currency swap policy of the Central Bank of Nigeria (CBN).
He said the application of the currency swap by the apex bank was too harsh considering the number of unbanked Nigerians.
Tinubu said he would work towards unifying the exchange rate in order to direct funds into meaningful investments.
He said a unified exchange rate would be in creating equipment and jobs that would power the economy.
He added that interest rates would be reduced to increase investment in such a way that would sustain the economy at a higher level.
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