5 Key Promises Made by Tinubu During His Inauguration.

5 Key Promises Made by Tinubu During His Inauguration.

https://www.msztopnews.com.ng/2023/06/5-key-promises-made-by-tinubu-during.html

FCT, Abuja - Another chapter has begun in Nigeria's democratic history with the inauguration of Asiwaju Bola Ahmed Tinubu as the 16th President of the Federal Republic of Nigeria.

At the inauguration, the former Lagos state governor gave a profound speech centring on a series of national issues he promised his administration would tackle.

In this short piece, we delved into the five key promises President Tinubu made in his inaugural speech.

1. Removal of Subsidy

President Tinubu's declaration on the removal subsidy was arguably the highlight of his speech when he said, "It is gone".

President Tinubu, with a bold and emphatic tone, declared that the federal government would no longer channel funds into subsidising fuel.

He said:

PAY ATTENTION: Share your outstanding story with our editors! Please reach us through info@corp.legit.ng!

“We shall instead re-channel the funds into better investment in public infrastructure, education, healthcare and jobs that will materially improve the lives of millions”

2. CBN monetary policy

Oh Yes! This was another high point of his speech, where he noted that there would be a review of the monetary policies of the Central Bank of Nigeria.

Recall that President Tinubu was the first presidential aspirant to kick against the new naira redesign policy in the build-up to the presidential polls.

In his speech, he said:

“Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level. Whatever j it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians.

“The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.”

3. Revival of electricity

President Tinubu said there is a need to draw the borderline in reviving the power sector, especially for the growth of businesses and startups.

He said:

"...electricity will become more accessible and affordable to businesses and homes alike. Power generation should nearly double, and transmission and distribution networks improved. We will encourage states to develop local sources as well.”

4. Removal of multiple taxations and investment

On the issue of multiple taxation, President Tinubu said:

“I have a message for our investors, local and foreign: our government shall review all their complaints about multiple taxation and the various anti-investment inhibitions.

“We shall ensure that investors and foreign businesses repatriate the hard-earned dividends and profits home.”

5. Creation of One million jobs for youths

President Tinubu said his administration would uphold its campaign promise to create one million jobs annually for Nigerian youths.

He said he is willing to work with the National Assembly to establish policies to help actualise his promise.

He said:

“My administration must create meaningful opportunities for our youth. We shall honour our campaign commitment of one million new jobs in the digital economy.”

Source: Legit.ng