Nigerian President, Bola Ahmed Tinubu has said that his administration shall govern on the people’s behalf but never rule over them, also consult and dialogue but never dictate and shall reach out to all but never put down a single person for holding views contrary to his administration.
Tinubu who made this known in his inaugural address after being sworn- in as the 16th elected President of the Federal Republic of Nigeria on Monday, stated categorically that his administration is here to further mend and heal Nigeria, not to tear and injure the nation.
According to him, “Today, let us recommit our very selves to placing Nigeria in our hearts as the indispensable home for each and every one of us regardless of creed, ethnicity, or place of birth.
“Our mission is to improve our way of life in a manner that nurtures our humanity, encourages compassion toward one another, and duly rewards our collective effort to resolve the social ills that seek to divide us.
“Our constitution and laws give us a nation on paper. We must work harder at bringing these noble documents to life by strengthening the bonds of economic collaboration, social cohesion, and cultural understanding.
“Let us develop a shared sense of fairness and equity. The South must not only seek good for itself but must understand that its interests are served when good comes to the North. The North must see the South likewise”.
The President said further that security shall be the top priority of his administration because neither prosperity nor justice can prevail amidst insecurity and violence. “To effectively tackle this menace, we shall reform both our security doctrine and its architecture.
On the economy, he said his administration is targeting a higher GDP growth and to significantly reduce unemployment. “We intend to accomplish this by taking the following steps:
“First, budgetary reform stimulating the economy without engendering inflation will be instituted. Second, industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.
“Third, 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.
“I have a message for our investors, local and foreign: our government shall review all their complaints about multiple taxation and various anti-investment inhibitions. We shall ensure that investors and foreign businesses repatriate their hard earned dividends and profits home”.
On fuel subsidy, Tinubu appealed the decision of 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”.
The President stressed that the Monetary policy needs thorough housecleaning. “The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.
“Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level.
“Whatever merits 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”.
Tinubu hailed his predecessor, former President Muhammadu Buhari, he said, “Mr President, you have been an honest, patriotic leader who has done his best for the nation you love. On a more personal note, you are a worthy partner and friend. May History be kind to you”.
He asked citizens to join him in making Nigeria a more perfect nation and democracy such that the Nigerian ideal becomes and forever remains the Nigerian reality.
“With full confidence in our ability, I declare that these things are within our proximate reach because my name is Bola Ahmed Tinubu, and I am the President of the Federal Republic of Nigeria”, he said.