By James Agberebi 29 May 2023 | 2:21 pm Nigeria’s new President Bola Ahmed Tinubu has said the era of subsidy payment on fuel has ended. Tinubu said this in his inaugural speech at the Eagle Square on Monday after he was sworn in as Nigeria’s 16th President. According to him the 2023 Budget made no provision for fuel subsidy and more so, subsidy… President Bola Tinubu Nigeria’s new President Bola Ahmed Tinubu has said the era of subsidy payment on fuel has ended. Tinubu said this in his inaugural speech at the Eagle Square on Monday after he was sworn in as Nigeria’s 16th President. According to him the 2023 Budget made no provision for fuel subsidy and more so, subsidy payment is no longer justifiable. He stated that his government shall instead channel funds into infrastructure and other areas to strengthen the economy. “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 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.“ Other important areas he spoke on are security and employment. He said security shall be the top priority of his administration because neither prosperity nor justice can prevail amidst insecurity and violence. On jobs, he said his administration must create meaningful opportunities for our youth, stating he will honour his campaign commitment of one million new jobs in the digital economy. 1 day ago Nigeria Governors’ Forum (NGF) Chairman and Kwara State Governor AbdulRahman AbdulRazaq was inaugurated for his second term on Monday, vowing to remain a responsible and responsive leader for the people of the state. The modest yet colourful inauguration lasted just 45 minutes, kicking off at exactly 8:10 a.m. following the arrival of the Governor at… 1 day ago Nigeria’s new President Bola Ahmed Tinubu has said the era of subsidy payment on fuel has ended. Tinubu said this in his inaugural speech at the Eagle Square on Monday after he was sworn in as Nigeria’s 16th President. According to him the 2023 Budget made no provision for fuel subsidy and more so, subsidy… 1 day ago Nigeria President Bola Tinubu on Monday said the Naira redesign policy by his predecessor Muhammadu Buhari will be reviewed. Tinubu said this in his inauguration address as Nigeria’s 16th president at Eagles Square, Abuja. The president noted that the Naira redesign policy implemented by the Central Bank of Nigeria (CBN) did not consider the number… 1 day ago The former Head of State, General Ibrahim Badamasi Babangida, has urged the newly-elected president, Bola Ahmed Tinubu to use his skills to address Nigeria’s economic challenges as soon as possible. Babangida said this on Monday during an interview on Arise TV where he also congratulated the president, Tinubu and vice-president, Kashim Shettima. IBB also described… 1 day ago The spokesperson of the campaign of Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) during the 2023 presidential election, Daniel Bwala, has congratulated the president, Bola Ahmed Tinubu. Bwala on Monday congratulated Tinubu and Kashim Shettima after they were sworn-in by the Chief Justice of Nigeria, Olukayode Ariwoola as the president and…
Comments