Tinubu inauguration speech: Fuel subsidy removal, unified exchange rate - Key points from President Bola Tinubu inaugural speech

President Bola Ahmed Tinubu don give im first speech as di 5th president of di Federal Republic of Nigeria since di kontri return to democracy.

For di Eagles Square afta e take di oath of office, President Tinubu assure Nigerians say im administration go be for all Nigerians.

"Our administration go only govern you but neva rule over you. We go consult and dialogue but neva dictate. We go reach out to all but neva pull down one single pesin sake of say e hold views wey dey contrary to our own.

President Tinubu hammer on di kontri unity. E say everyone must come togeda as a pipo irrespective of dia creed, place of birth, or wia dem come from.

On im part, e promise to serve Nigerians without prejudice as e promise to rule wit compassion and amity towards all.

E assure Nigerians say di mandate dem give am no dey misplaced. "Di confidence dey dia, hope don come back for Nigerians, make we just dey united."

Principles of im administration

President Tinubu say di principles wey go guide im administration dey simple.

- E say Nigeria go dey governed by di constitution and di rule of law.
- We go defend di nation from terror and all forms of criminality wey wan threaten di peace and stability of our kontri and sub-region.

Key points from im speech

SECURITY

President Bola Tinubu say security go be di top priority of im administration.

To effectively tackle am, e say im go reform both di security doctrine and im architecture.

E say im administration go invest in di kontri security personnel, by increasing di number of di force, provide better training and equipment, pay and firepower.

FUEL SUBSIDY

Di new president commend di decision of di outgoing administration to discontinue di petrol subsidy regime wey don increasingly favour di rich pass di poor.

"Subsidy no longer fit justify im ever-increasing costs in di wake of drying resources." Oga Tinubu tok.

E say under im administration, dem go re-channel di money from Fuel Subsidy into beta investment in public infrastructure, education, health care and jobs wey go materially improve di lives of millions.

ECONOMY

On di economy, we dey target GDP growth wey no less dan 6% annually and to significantly reduce unemployment.

To address di economy, President Tinubu say im administration go do budget reform, go make electricity accessible and affordable for businesses and homes.

"I get message for our investors, local and foreign: our goment go review all dia complaints about multiple taxation and various anti-investment inhibitions."We go ensure say investors and foreign businesses repatriate dia hard earned dividends and profits home."

FOREIGN POLICY

President Tinubu say im primary foreign policy objective go be di peace and stability of di West African sub-region and di African continent.

E say im go work wit ECOWAS, di AU plus willing partners for di international community to end conflicts and to resolve new ones.

MONETARY POLICY

"Monetary policy need thorough housecleaning", e tok.

E say im go review di currency swap wey di Central Bank of Nigeria introduce during di last administration.

President Tinubu say e dey "harsh" given di number of pipo wey no get bank account.

E add say im administration go treat both currencies as legal tender.

E also say di Central Bank must work towards a unified exchange rate wey go direct funds away from arbitrage into meaningful investment for di plant, equipment and jobs wey go power di real economy.

E go reduce di interest rates to increase investment and consumer purchasing for ways wey go sustain di economy for a higher level.

JOBS

On jobs, Oga Tinubu say im administration must create meaningful opportunities for di youth.

"We go honour our campaign commitment of one million new jobs for di digital economy.

"Our goment go also work wit di National Assembly to fashion collection of Jobs and Prosperity bill. Dis bill go give our administration di policy space to embark on labour-intensive infrastructural improvements, encourage light industry and provide improved social services for di poor, elderly and vulnerable."