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Fuel subisdy is gone – Tinubu

Nigeria’s new President, Bola Tinubu says the era of subsidy payment on fuel has ended.
Tinubu who made the assertion while delivering his inaugural speech as the 16th President of Nigeria also disclosed that his team will disclose the key aspect of the economic policy for his administration.
The fuel subsidy is gone,” Tinubu declared in his inaugural speech at the Eagle Square on Monday after he was sworn in as Nigeria’s 16th President.
His words: “We commend the decision of the 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.”
Tinubu said his government shall instead channel funds into infrastructure and other areas to strengthen the economy, adding that a “unified exchange rate” is guaranteed under his administration.
He also spoke on revamping Nigeria’s economy by ensuring budgetary reforms and promised to make electricity more accessible by encouraging various state governments to participate in power generation.
Furthermore, the former Lagos State governor vowed to rid Nigeria of terrorism and criminality.
“Security shall be top of our administration,” he said, adding that he will reform security architecture, invest more in security personnel, better training and provide better equipment for security personnel.
He added that his government will review various multiple taxations.
BELOW IS THE FULL STATEMENT
President Bola Tinubu
President Bola Tinubu, on Monday, delivered his inaugural address at Eagle Square, Abuja.
The Oath of Office was administered by the Chief Justice of Nigeria, Kayode Ariwoola.
Below is the full text.
My Fellow Citizens,
I stand before you honoured to assume the sacred mandate you have given me. My love for this nation is abiding. My confidence in its people, unwavering. And my faith in God Almighty, absolute. I know that His hand shall provide the needed moral strength and clarity of purpose in those instances when we seem to have reached the limits of our human capacity.
This day is bold and majestic yet bright and full of spirit, as is our precious nation.
As a nation, we have long ago decided to march beyond the dimness of night into the open day of renewed national hope.
The question we now ask ourselves is whether to remain faithful to the work inherent in building a better society or retreat into the shadows of our unmet potential.
For me, there is but one answer. We are too great a nation and too grounded as a people to rob ourselves of our finest destiny.
This nation’s journey has been shaped by the prayers of millions, and the collective sacrifices of us all.
We have endured hardships that would have made other societies crumble.
Yet, we have shouldered the heavy burden to arrive at this SUBLIME moment where the prospect of a better future merges with our improved capacity to create that future.
To the surprise of many but not to ourselves, we have more firmly established this land as a democracy in both word and deed.
The peaceful transition from one government to another is now our political tradition. This handover symbolizes our trust in God, our enduring faith in representative governance and our belief in our ability to reshape this nation into the society it was always meant to be.
Here, permit me to say a few words to my predecessor, President Muhammadu Buhari. 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.
For many years, Nigeria’s critics have trafficked the rumour that our nation will break apart, even perish.
Yet here we are. We have stumbled at times, but our resilience and diversity have kept us going.
Our burdens may make us bend at times, but they shall never break us.
Instead, we stand forth as Africa’s most populous nation and as the best hope and strongest champion of the Black Race.
As citizens, we declare as one unified people devoted to one unified national cause, that as long as this world exists, NIGERIA SHALL EXIST.
Today, Fate and Destiny join together to place the torch of human progress in our very hands. We dare not let it slip.
We lift high this torch so that it might shine on every household and in every heart that calls itself Nigerian. We hold this beam aloft because it lights our path with compassion, brotherhood, and peace. May this great light never EXTINGUISH.
Our administration shall govern on your behalf but never rule over you. We shall consult and dialogue but never dictate. We shall reach out to all but never put down a single person for holding views contrary to our own.
We are here to further mend and heal this nation, not tear and injure it.
In this vein, may I offer a few comments regarding the election that brought us to this juncture. It was a hard-fought contest. And it was also fairly won. Since the advent of the Fourth Republic, Nigeria has not held an election of better quality.
The outcome reflected the will of the people. However, my victory does not render me any more Nigerian than my opponents. Nor does it render them any less patriotic.
They shall forever be my fellow compatriots. And I will treat them as such. They represent important constituencies and concerns that wisdom dare not ignore.
They have taken their concerns to court. Seeking legal redress is their right and I fully defend their exercise of this right. This is the essence of the rule of la
News
Corruption: EFCC Boss Exposes Public Officers ” They Assume Office With Empty Account But Own Millions Of Dollars In 3 Years”
The Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, says Nigerian politicians steal public funds every minute.
He spoke in Abuja at the 80th birthday celebration of former Attorney-General, Kanu Agabi.
Olukoyede said the anti-graft agency receives over 20,000 corruption petitions every year, adding that most of the cases are shocking.
“I receive over 20,000 petitions in a year in respect to public corruption, all terrible. What is going on? Like every minute, public officers take money, and if you go through some of our case files you will weep.
“The way people take national resources and Nigerians are victims of these fraudulent activities. And we must come together for once in our lifetime and say no to the activities of some of our leaders,” Olukoyede said.
The EFCC boss said some public officers resume office with less than N100,000 in their account, but after three years, EFCC will trace millions of dollars to them.
He said some of them build hundreds of houses while still in office, noting that corruption is killing Nigeria.
Olukoyede said public officers must explain what they did in office, stressing that accountability and transparency must guide public service.
News
Ogun: Fleeing Father Arrested For Killing Neighbour Who Hugged His Son
The Ogun State Police Command says, it has arrested 43-year-old Edebiri Temitope, who allegedly beat his neighbour to death with a bamboo stick for hugging his son in Bluestone Treasure Estate, Mowe-Ofada area of Ogun State.
The deceased, 38 years old Micheal Oje, a Guidance and Counselling graduate of Benue State University, was accused of hugging and playing rough with the 3-year-old child .
According to Peter Adum, a younger cousin to the deceased, Micheal had just returned from work and the child who lived with them on the same street, ran towards him and hugged him.
He stated that Michael hugged the boy and threw him playfully in the air and caught him, before going into his room to sleep.
Adum said, “While he was sleeping, Adebiri, the father of the boy, came outside and knocked on his door. When Mike came out, the man accused him of playing roughly with his child. Mike explained that he had only hugged the boy and lifted him into the air.
“That was how the man then started slapping Mike. He picked up a bamboo stick from the ground and hit him about three times. Mike fell and died on the spot.”
The suspect was reported to have gone into hiding with his family.
However, the Police Public Relations Officer, DSP Oluseyi Babaseyi on Friday, said the suspect had been arrested and transferred to the State CID, Eleweran, Abeokuta, for further investigation.
“Edebiri Temitope, ‘M’, aged 43 years, who was earlier reported to be at large, has been arrested in connection with the death of Oje Michael Eje, ‘M’.
“The suspect has been transferred to the State CID, Eleweran, Abeokuta, for further investigation,” Babaseyi stated.
News
Jimoh Ibrahim Defends Tinubu’s Absence At UNGA
Jimoh Ibrahim, Nigeria’s permanent representative to the United Nations, has defended President Bola Tinubu’s absence at the 81st session of the United Nations General Assembly (UNGA).
Ibrahim spoke on a Television program, on Thursday, noting that Tinubu cannot attend the event just to deliver a 15-minute speech.
Mohammed Idris, minister of information and national orientation, had said Tinubu would not attend the 81st UNGA because he is currently on annual leave.
Idris said Tinubu had mandated Vice-President Kashim Shettima to lead Nigeria’s delegation to the high-level session in New York, United States.
The minister’s comment followed criticism from former Vice-President Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), who faulted the president’s absence at the gathering.
Atiku had questioned Tinubu’s decision to stay away from the general debate for the third consecutive year, saying the president’s “persistent avoidance” of the United States raises questions.
The former vice-president also questioned why Tinubu did not show up after Ibrahim reportedly said arrangements had been made for the president to sit close to US President Donald Trump at the general assembly.
Atiku further linked Tinubu’s absence to his past legal history in the US and asked: “Is Tinubu afraid that he could become Donald Trump’s next Nicolás Maduro?”
However, Ibrahim said Tinubu’s absence should not be taken as a big deal because many presidents of other countries did not attend the gathering in person.
“What do you think President Tinubu is coming to do?” he queried.
“The presidents are allowed in the UN under UNGA for 15 minutes. Is that the reason why he should board the flight and be here for 15 minutes?”
He said Shettima had, in Tinubu’s absence, attended high-level meetings and met with Nigerians in the diaspora, describing the engagement as ideal.
“This is the kind of engagement we want, not that the president will just be inside the plane and be coming to UNGA for a 15-minute speech. What is the meaning of that? We don’t want that,” Ibrahim said.
Ibrahim, who was appointed chairman of the budget and administration committee for UNGA’s Fifth Committee in June, said 60 percent of those on the speaking list at the gathering were foreign affairs ministers and vice-presidents.
“As permanent representative of Nigeria to the United Nations, if I’m to do a memo to the president at the last minute of boarding the plane to go to UNGA, do you think I will recommend the president to be on his way when 60 percent of the speaking list of 193 countries are ministers and vice-presidents representing their countries?” he queried.
“There are exigencies. If the speaking list is 90 presidents, maybe of course, the president can come. I don’t think the president should come and be where his equivalent is a minister of foreign affairs of another country.”
The envoy also said the country occupied a prominent position at UNGA, arguing that Tinubu’s physical presence was not necessary.
“I promise that Nigeria will be on the front-row seat at UNGA. Are we not on the front-row seat? Nigeria is sitting at number eight seat in the UN under UNGA and America is at number 26th seat at the back of Nigeria’s seat,” he said.
“And you know, Donald Trump didn’t go to sit on his own seat. He came in to give a lecture at the UNGA and went back from there.
“Are you saying that Nigeria is making the impact it is supposed to make globally? Must we have President Tinubu here before we can make the impact?”
Speaking on what the composition of the speaking list implied, Ibrahim said reforms were being planned to increase the impact of the organisation on member-states.
“That is the reform we are taking on effective from October 1st. When I chair the budget and administrative committee, 90 percent of UN resources is spent at the headquarters, while 10 percent goes to member-states,” he said.
“So legitimacy is reduced because member-states are not seeing impacts of the United Nations. We are going to reverse that.”
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