During his inaugural speech, President Tinubu declared the end of fuel subsidy in Nigeria. He emphasized that the 2023 Budget does not allocate any funds for fuel subsidy, indicating a shift in the government’s stance on this matter. He believes that continuing the subsidy payment is no longer justifiable.
President Tinubu also addressed other important issues in his speech. He expressed his commitment to establishing a unified exchange rate as a means to promote economic stability. Furthermore, he acknowledged the security challenges faced by the country and pledged to undertake security reforms. These reforms include restructuring the security architecture, investing in security personnel, providing them with better training, and ensuring they have adequate equipment.
Additionally, President Tinubu outlined his plans for economic development. He emphasized the significance of job creation and outlined his vision to remodel the economy, fostering growth and increasing the Gross Domestic Product (GDP). He also made promises to combat extreme poverty, ensure food security, promote inclusivity for women and youths, and combat corruption.
In conclusion, President Tinubu’s inaugural speech highlighted his priorities, which involve discontinuing fuel subsidy, addressing security concerns, and driving economic growth and development in Nigeria.
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