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On Monday in Abuja, President Bola Tinubu said that his administration will end the subsidy on petroleum products.
Soon after being sworn in as the 16th President of Nigeria, Tinubu declared "Subsidy is gone" in his inauguration speech at Eagle Square, Abuja.
According to the president, subsidies were not included in the national budget as of June 2023, thus they were eliminated.
During his speech at his inauguration on Monday in Abuja, Tinubu said that his administration's minimum GDP growth objective is 6% each year.
Additionally, he pledged to govern the nation with "compassion and amity toward all."
"We'll aim for a minimum GDP growth rate of 6% in the economy. We'll do this through fiscal changes." In his inauguration speech in Eagle Square, Abuja, Tinubu promised to make maximum use of home production while reducing importation.
By looking through all concerns concerning numerous taxes, he vowed to increase foreign direct investment.
"To our international investors, our administration will investigate any grievances regarding numerous taxes. All companies would be able to bring their hard-earned riches home," Tinubu stated.
A little over an hour earlier, the former governor of Lagos and vice president Kashim Shettima had taken the oath of office as Nigeria's 16th president.
