Bola Ahmed Tinubu, President of Nigeria has promised to honour his campaign promises and remodel Nigerian economy to bring about growth and development. He said he would do this through Job creation, food security and a people-friendly monetary policy. He also promised to work towards putting an end to extreme poverty. while recognising that there is no provision for fuel subsidy in the budget he is inheriting from President Muhammadu Buhari, Tinubu declared “subsidy is gone”.
Tinubu during his inaugural speech said there was no justification for the ever-increasing fuel subsidy.
He said the money spent on fuel subsidy will be re-channeled into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.
He also promised that electricity will become more accessible and affordable to businesses and homes alike. Power generation should nearly double and transmission and distribution networks improved. He stated that “We will encourage states to develop local sources as well.”
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