President Bola Tinubu has declared that there is no more subsidy.
Glamtush reports that Nigeria’s new President, Bola Tinubu says the era of subsidy payment on fuel has ended.
“Subsidy is gone” Tinubu exclaimed during his inaugural address at Eagle Square, Abuja, shortly after he was sworn in as the 16th President of Nigeria.
The president said there was no provision for subsidy in the national budget from June 2023 and, therefore, it stands removed.
Speaking at his inauguration, Tinubu, on Monday, in Abuja, he revealed that his administration targets minimum GDP growth of six per cent annually.
He also promised to will lead the country with “compassion and amity towards all.”
“In economy, we’ll target not less than 6 per cent growth in GDP growth. We’ll do this through budgetary reforms. We’ll use a full range of domestic manufacturing and lessen importation,” Tinubu said in his inaugural address at Eagle Square, Abuja.
He promised to boost foreign direct investment by reviewing all complaints about multiple taxations.
“To our foreign investors, our government will review all complaints about multiple taxations. All businesses will be allowed to repatriate hard-earned profits back home,” Tinubu added.
Furthermore, the former Lagos State governor vowed to rid Nigeria of terrorism and criminality.
“Security shall be top of our administration,” he said, adding that he will reform security architecture, invest more in security personnel, better training and provide better equipment for security personnel.
The new President said he will end extreme poverty, make food more abundant, ensure inclusion for women and youths and discourage corruption.