Tinubu Promises to Remodel the Economy

President Bola Tinubu’s administration has kickstarted on a promising note as he promised to remodel the economy to bring about growth as well as develop the Gross Domestic Product through job creation.

The democratically elected president, took his oath of office as the 16th President of Nigeria alongside his vice, Kashim Shettima at exactly 10:28 am and 10:38 am respectively, and was administered by Chief Justice of Nigeria, Justice Olukayode Ariwoola. 

“I, Bola Ahmed Tinubu, do solemnly swear that I will be faithful and bear true allegiance to the Federal Republic of Nigeria and that I will preserve, protect and defend the constitution of the Federal Republic of Nigeria. So, help me, God,” Tinubu swore.

 Delivering his inaugural speech on May 29, 2023, at the Eagle Square in Abuja Tinubu said the era of subsidy payment on fuel has ended.

He noted that no provision was made for fuel subsidy in the 2023 budget and more so, subsidy payment is no longer justifiable. “The fuel subsidy is gone,” Tinubu said.

 The President stressed that his government shall rather channel funds into infrastructure and other areas to strengthen the economy, adding that a “unified exchange rate” is guaranteed under his administration.

He also said the interest rate is currently too high and will be reviewed. In addition to promising one million employment in the digital sector, he reassured investors that multiple taxations will be evaluated to draw new foreign direct investment and domestic investment.

“Security shall be top of our administration,” he declared, adding that he would improve security architecture, spend more on security professionals, provide them with greater training, and equip them with better tools.

The former governor of Lagos State also promised to treat his rivals in the February 25 election that put him in office with respect due to a fellow citizen.

“My victory does not render me more Nigerian than the rest of you. It also does not render my opponents less Nigerjan than me. I will treat my opponents, Peter Obi and Atiku Abubakar, as important compatriots,” Tinubu stated.

He also contended that Nigeria had not had a better election that the recently concluded one in its history.

What do you think about the new administration and what are your wishes as Nigeria welcomes her new President to power?

Leave a Reply

Your email address will not be published. Required fields are marked *