Nigeria’s President, Bola Ahmed Tinubu, took to his Twitter account to extend his heartfelt congratulations to the newly elected Turkish President, Recep Tayyip Erdogan, on his remarkable triumph. Expressing his well wishes, President Tinubu conveyed his hopes for a prosperous tenure for President Erdogan, while also emphasizing the importance of fostering increased cooperation between Nigeria and Turkey.
Nigeria’s President Tinubu Announces End of Fuel Subsidy in Inaugural Speech
In a groundbreaking announcement during his inaugural speech, President Tinubu declared the end of fuel subsidy payments, signifying a major shift in government policy. The 2023 Budget does not allocate any funds for fuel subsidies, and Tinubu emphasized that the justification for such payments no longer exists.
This decision carries significant implications for the nation’s economy and energy sector, aiming to address longstanding challenges associated with the subsidy system and promote a more sustainable and transparent approach to fuel pricing. Tinubu highlighted the importance of structural reforms while assuring the public of measures to mitigate the impact on vulnerable segments of society.
During his speech, President Tinubu outlined five key principles that will guide his administration, including impartial governance according to the constitution and the rule of law, combating terrorism and criminality, fostering economic growth and development through job creation and food security, promoting the inclusion of women and youth, and taking proactive measures to discourage corruption.
The decision to end fuel subsidies has sparked extensive debates among various stakeholders, who are discussing the potential consequences and benefits of this bold move. As further details and implementation plans unfold, the removal of fuel subsidies marks a pivotal moment in Nigeria’s economic landscape.
President’s Inaugural Speech: Commitment to Unity, Progress, and Good Governance
In his inaugural speech, President Tinubu expressed deep gratitude for the mandate bestowed upon him by the citizens of Nigeria. He conveyed his unwavering love for the nation and faith in its people, relying on the strength provided by God Almighty.
Highlighting Nigeria’s journey, the President acknowledged the collective sacrifices and prayers that have shaped the nation. Despite enduring hardships, Nigeria has emerged resilient, firmly establishing itself as a democracy in both word and deed. The peaceful transition of power represents a testament to the trust in God and the belief in representative governance.
Addressing his predecessor, President Tinubu recognised President Muhammadu Buhari’s honest and patriotic leadership, extending gratitude and hoping for a kind place in history for him. He also acknowledged the critics who predicted Nigeria’s demise, emphasizing the nation’s strength, diversity, and position as a champion of the Black Race.
Affirming Nigeria’s existence and unity, the President emphasized the responsibility to uphold the torch of human progress. He pledged to govern on behalf of the people, promoting consultation, dialogue, and unity while aiming to mend and heal the nation. President Tinubu acknowledged the recent election as hard-fought and fairly won, respecting the rights of his opponents to seek legal redress.
The President called for a recommitment to Nigeria as an indispensable home for all, transcending divisions of creed, ethnicity, or birthplace. He outlined the principles that would guide his administration, including impartial governance, defense against terrorism and criminality, economic growth, empowerment of women and youth, and proactive anti-corruption measures.
The President concluded by promising a detailed program in the coming days and weeks, centered on progressive good governance. He envisioned an impartially governed Nigeria that upholds the rule of law, protects the nation from threats, fosters economic development, promotes inclusivity, and champions the fight against corruption.