President Bola Tinubu, during an inaugural speech sent a strong message to both local and foreign investors saying his government will give businesses a listening ears. He said “I have a message for our investors, local and foreign; our government shall review all their complaints about multiple taxation and various anti-investment inhibitions. We shall ensure that investors and foreign businesses repatriate their hard earned dividends and profits home. On the economy, we target a higher GDP growth and to significantly reduce unemployment,” he said, adding that this would be achieved through budgetary reform, boosting power generation and improving food security. According to him “my administration must create meaningful opportunities for our youth. We shall honour our campaign commitment of one million new jobs in the digital economy. 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”, he stated. On Agriculture, the president said rural incomes shall be secured by commodity exchange boards guaranteeing minimal prices for certain crops and animal products.
He said “a nationwide programme for storage and other facilities to reduce spoilage and waste will be undertaken. “Agricultural hubs will be created throughout the nation to increase production and engage in value-added processing. The livestock sector will be introduced to best modern practices and steps taken to minimise the perennial conflict over land and water resources in this sector. “With full confidence in our ability, I declare that these things are within our proximate reach because my name is Bola Ahmed Tinubu, and I am the President of the Federal Republic of Nigeria”, he declared. “Electricity will become more accessible and affordable to businesses and homes alike. Power generation should nearly double and transmission and distribution networks improved. We will encourage states to develop local sources as well. Tinubu promised of establishing agricultural hubs across the country to ensure food availability and affordability for Nigerians. Tinubu also said commodity exchange board will be set up to ensure minimal prices for certain crops that would be cheap for Nigerians to afford. He further stated that his administration will put in place a nationwide programme to reduce post-harvest losses in order to ameliorate plight of farmers.
He said “On agriculture and rural income that will be secured, commodity exchange board guaranteeing minimal prices for certain crops, animal products, a nationwide programme for the storage and facilities to reduce spoilage and waste. All of that will be undertaken. Agricultural hubs will be created throughout the nation for increased production and engage in credit, promote credit, engage in value added processing.” Meanwhile, the President gave hope to livestock farmers and stakeholders to introduce best and modern approaches that would transform the sub-sector, hence to drastically reduce the protracted farmer-herder conflict across the country.
“The livestock, we will introduce the best modern approach and steps taken to minimise the perennial conflict. Food will be made more abundant”, he added. The principles that will guide our administration are simple: “Our government will continue to take proactive steps such as championing a credit culture to discourage corruption while strengthening the effectiveness and efficiency of the various anti-corruption agencies”, he stated. On security, he said it shall be the top priority of his administration because neither prosperity nor justice can prevail amidst insecurity and violence.
“To effectively tackle this menace, we shall reform both our security doctrine and its architecture. “We shall invest more in our security personnel, and this means more than an increase in number. We shall provide, better training, equipment, pay and firepower”, he said. Tinubu also promised to ensure budgetary reform, stimulating the economy without engendering inflation will be instituted. He said there will be an industrial policy that will utilise the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.