President Tinubu Declares “Subsidy Is Over”

6 Key Points From President Tinubu's Speech

On Monday in Abuja, President Bola Tinubu declared that his administration would end the subsidy on petroleum products.

Soon after being sworn in as the 16th President of Nigeria, Tinubu declared “Subsidy is gone” in his inaugural speech at Eagle Square, Abuja.

President Bola Tinubu stated during his inaugural speech on Monday in Abuja that his administration’s minimum GDP growth target is 6% per year. Additionally, he pledged to govern the nation with “compassion and amity toward all.”

“In terms of the economy, we’ll aim for GDP growth of no less than 6%. Budgetary reforms will be used to accomplish this. In his inaugural speech at Eagle Square, Abuja, Tinubu promised to make maximum use of home production while reducing importation.

He committed to evaluate any concerns about numerous taxes in order to increase foreign direct investment.

“Our administration will examine all concerns about various taxes, as promised to our foreign investors. All firms would be permitted to bring their hard-earned profits home, added Tinubu.

The former governor of Lagos and Nigeria’s vice president, Kashim Shettima, had taken the oath of office together a few hours earlier.

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