In his inaugural speech at the Eagle Square on Monday, after being sworn in as Nigeria’s 16th President, Tinubu stated that the 2023 Budget does not include any provision for fuel subsidy, and furthermore, he argued that subsidy payments are no longer justifiable.
According to him, his government will allocate funds towards infrastructure and other sectors to strengthen the economy, while guaranteeing a ‘unified exchange rate’ during his administration. He also pledged to revitalize the economy, fostering growth and job creation to enhance the Gross Domestic Product.
Recognizing the current high interest rates, Tinubu expressed his intention to review them. Additionally, he assured investors that his administration would address multiple taxation to attract investments, and he made a commitment to create one million jobs in the digital economy.
Tinubu also made a resolute promise to eliminate terrorism and criminality in Nigeria, placing security as a top priority. He emphasized plans to reform the security architecture, increase investments in security personnel, provide comprehensive training, and equip them with better resources.
The newly elected President stressed his determination to eradicate extreme poverty, increase food availability, promote inclusivity for women and youth, and discourage corruption.
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