• Promises to review multiple taxations, creates enabling environment for investors
• Promises jobs for youths
In what can be considered as a major policy pronouncement, President Bola Tinubu has disclosed that the controversial fuel subsidy is gone for good.
Tinubu, who spoke in his first inaugural speech on Monday, said that the 2023 budget did not make provision for fuel subsidy.
He added that the nation’s financial position could not sustain the subsidy which has gulped over N4 trillion so far this year.
Tinubu also said that the money saved from fuel subsidy would be used to support other areas of the economy.
He said his government would address issues of multiple taxation and other anti-investment policies to encourage new investments by local and foreign investors.
According to the President, the Federal Government Government will support the agric sector by guaranteeing minimum prices for certain crops, introduce best practices in the livestock sector to reduce conflicts and create agric hubs nationwide while also investing in processing and storage facilities to reduce waste.
He said his government would address power generation and distribution and encourage states to generate and distribute their own power.
Tinubu further restated his campaign promise on jobs , saying his administration will generate one million jobs from the digital economy space.
