29th May, 2023
By Kazeem Ugbodaga
Nigeria’s President, Bola Ahmed Tinubu presented his inaugural speech on Monday after he was sworn-in as 16th president.
Below are 25 key takeaways from his speech:
1. Nigeria too great a nation and too grounded as a people to rob ourselves of our finest destiny.
2. Nigerians have endured hardships that would have made other societies crumble.
3. Fuel subsidy is gone as it can no longer justify its ever-increasing costs in the wake of drying resources.
4. Despite stumbling at times, our resilience and diversity have kept us going.
5. Monetary policy needs thorough housecleaning.
6. The Central Bank must work towards a unified exchange rate.
7. Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level.
8. Currency swap was too harshly applied by the CBN given the number of unbanked Nigerians.
9. Primary foreign policy objective to be peace and stability of the West African sub-region and the African continent.
10. Progress toward national networks of roads, rail and ports shall get priority attention.
11. Agricultural hubs will be created throughout the nation to increase production and engage in value-added processing.
12. Government to work with the National Assembly to fashion an omnibus Jobs and Prosperity bill.
13. Government to target a higher GDP growth and to significantly reduce unemployment.
14. Budgetary reform stimulating the economy without engendering inflation will be instituted.
15. Industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.
16. Electricity to become more accessible and affordable to businesses and homes alike.
17. Government to review all foreign investors complaints about multiple taxation and various anti-investment inhibitions.
18. Government to tackle insecurity and invest more in security personnel.
19. Nigeria will be impartially governed according to the constitution and the rule of law.
20. Government to defend the nation from terror and all forms of criminality that threaten the peace and stability of our country and our sub-region.
21. Government to remodel economy to bring about growth and development through job creation, food security and an end of extreme poverty.
22. Women and youth to feature prominently in new administration.
23. New government to serve without prejudice and compassion and amity towards all.
24. Government wants Nigerians to recommit themselves to placing Nigeria in their hearts as the indispensable home for each and every one regardless of creed, ethnicity, or place of birth.
25. New administration to govern on behalf of the people but never rule over them; consult and dialogue but never dictate and reach out to all but never put down a single person for holding views contrary to government.