Presidential Inauguration: Tinubu sworn in as 16th President, Removes fuel subsidy, unified exchange rate
Asiwaju Bola Ahmed Tinubu is the 16th President and Commander-In-Chief of the Federal Republic of Nigeria following the just concluded swearing in ceremony.
The swearing in/oath taking took place on Monday at exactly 10:35am at the Eagles Square Abuja with the Chief Justice of Nigeria Justice Olukayode Ariwodola in charge. Kashim Shettima was sworn in as his vice-president.
In his inaugural address to Nigerians, he announced the removal of fuel subsidy saying no provision has been made in the 2023 national budget for fuel subsidy.
In addition, among other landmark decisions of his is the collapsing of the hitherto parallel forex market to a single foreign exchange market.
The victory of the ex-Lagos State governor is being challenged by Atiku Abubakar and Peter Obi, the Peoples Democratic Party and Labour Party standard bearers, respectively, at the Presidential Election Petition Court.
Against the backdrop of the challenges facing the country, economic players, including the Nigeria Employers’ Consultative Association, Nigerian Economic Summit Group and the Manufacturers Association of Nigeria admonished the former Lagos State governor to tackle inflation, stabilise the exchange rate and ensure the removal of fuel subsidy within his first 100 days in office.
