Tinubu says his administration would tackle unemployment issues in the country head-on.
President Bola Tinubu on Monday in Abuja assured Nigerians that security will be the top priority of his administration because neither prosperity nor justice can prevail amidst insecurity and violence.
He gave the assurance in his inaugural speech after taking oath of office and allegiance administered by the Chief Justice of Nigeria, Justice Kayode Ariwoola, at the Abuja Eagles Square.
Tinubu, who emerged winner of the February 25 presidential election, said his administration would tackle unemployment issues in the country head-on.
He said his administration would create meaningful opportunities for Nigerian youths and pledged to honour his campaign commitment of one million new jobs in the digital economy for youths.
“Our government also shall work with the National Assembly to fashion an omnibus Jobs and Prosperity bill. This bill will give our administration the policy space to embark on labour-intensive infrastructural improvements, encourage light industry and provide improved social services for the poor, elderly and vulnerable,” Tinubu said.
He commended the action of outgone President Muhammad Buhari’s administration to phase out fuel subsidy which he said would save the country at a time 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.
He said Nigeria’s monetary policy needed thorough house-cleaning, adding that the Central Bank of Nigeria (CBN) should work towards a unified exchange rate.
This, he noted, would direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.
Tinubu said his administration would treat both new and old naira notes as legal tender, adding that in spite of its intended merits, the controversial currency swap policy of the CBN was too harshly applied given the number of unbanked Nigerians
The president said his primary foreign policy objective must be the peace and stability of the West African sub-region and the African continent.
He promised to work with ECOWAS, the AU and willing partners in the international community to end extant conflicts and resolve new ones.
The News Agency of Nigeria (NAN) reports that Tinubu’s inauguration was attended by visiting country presidents, prime ministers and other world leaders and diplomats.
Also in attendance were former head of state, General Yakubu Gowon, former president, Goodluck Jonathan, Senate President Ahmad Lawan and speaker of the House of Representatives, Femi Gbajabiamila.
Also at the event were serving and former governors, traditional and religious leaders, captains of industries and members of the Diplomatic Corps and APC chieftains among others.