Subsidy is gone – Tinubu declares

…targets 6 % annual GDP growth

President Bola Tinubu, on Monday, in Abuja, announced that his administration will remove the subsidy on Petroleum products.

“Subsidy is gone” Tinubu exclaimed during his inaugural address at Eagle Square, Abuja, shortly after he was sworn in as the 16th President of Nigeria.

The president said there was no provision for subsidy in the national budget from June 2023 and, therefore, it stands removed.

Speaking at his inauguration, Tinubu, on Monday, in Abuja, he revealed that his administration targets minimum GDP growth of six per cent annually.

He also promised to will lead the country with “compassion and amity towards all.”

“In economy, we’ll target not less than 6 per cent growth in GDP growth. We’ll do this through budgetary reforms. We’ll use a full range of domestic manufacturing and lessen importation,” Tinubu said in his inaugural address at Eagle Square, Abuja.

He promised to boost foreign direct investment by reviewing all complaints about multiple taxations.

“To our foreign investors, our government will review all complaints about multiple taxations. All businesses will be allowed to repatriate hard-earned profits back home,” Tinubu added.

About an hour earlier, the former Lagos Governor had taken the oath of office as the 16th President of Nigeria alongside Vice President Kashim Shettima.

The Punch

Cc: Mynd44, Nlfpmod

we move

Have you forgotten Buhari you claimed you made president have repeatedly affirmed he has removed the same fraudulent fuel subsidy but still left it for you to still remove? Bunch of scammers and fraudsters in govt.

Nice decisions from mr president, criminals defrauding Nigerians in the name of fuel subsidy it's over for you criminals

Good . For nigeria to develop its should have annual GDP of atleast 6 percent ,not the paltry 1.5 to 2 percent under buhari tenure.

The ultimate aim should be to have a growth rate more than 7 percent. So as to be the fastest growing major economy in the world presently held by India.

Yimu yimu

My president.
Nigeria's President.
President of the most populous black nation on Earth.

Master Strategist, Astute Politician, True and Compassionate leader, Great Rewarder.


The subsidy removal was long overdue. All hail Nigeria.

okoo

Racoon:
Have you forgotten Buhari you claimed you made president have repeatedly affirmed he has removed the same fraudulent fuel subsidy but still left it for you to still remove? Bunch of scammers and fraudsters in govt.

Going by the 2023 budget, fuel Subsidy has been removed. It'll however take effect in June.