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Inauguration: 7 Key Takeaways From Tinubu’s Inaugural Speech

Published

2 years ago

May 29, 2023

Editor

President Bola Tinubu, has been officially sworn in as the 16th president of Nigeria amid colourful events and festive mood at the Eagle Square today (Monday).

Tinubu, in his inaugural speech, touched on keynote policies and initiatives that will herald the start of his administration.

Here are seven major takeaways from the President’s speech.

Tinubu reaffirmed that the era of fuel subsidy is gone.

He said, “We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake 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.

We’ll create jobs, prosperity for youth.

The president emphasized that his administration must create meaningful opportunities for our youth, saying “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 said.

We shall reform security doctrine

Tinubu noted that security shall be the top priority of his administration, because neither prosperity nor justice can prevail amidst insecurity and violence.

He said, “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.”

We’ll target higher GDP growth

On the economy, Tinubu said he will target a higher GDP growth and to significantly reduce unemployment.

“We intend to accomplish this by taking the following steps: First, budgetary reform stimulating the economy without engendering inflation will be instituted.

“Second, industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.

“Third, 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.

“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,” he said.

We’ll create agricultural hubs across nation

Tinubu said rural incomes shall be secured by commodity exchange boards guaranteeing minimal prices for certain crops and animal products, adding that “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 minimize the perennial conflict over land and water resources in this sector.

“Through these actions, food shall be made more abundant yet less costly. Farmers shall earn more while the average Nigerian pays less.”

Monetary policy needs thorough housecleaning

President Tinubu noted that the monetary policy needs thorough housecleaning, saying the Central Bank must work towards a unified exchange rate.

“This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.

“Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level.

“Whatever merits it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians. The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender,” he said.

Our foreign policy objective is peace, stability

Tinubu said, “Given the world in which we reside, please permit a few comments regarding foreign policy.

“The crisis in Sudan and the turn from democracy by several nations in our immediate neighbourhood are of pressing concern.

“As such, my primary foreign policy objective must be the peace and stability of the West African subregion and the African continent. We shall work with ECOWAS, the AU and willing partners in the international community to end extant conflicts and to resolve new ones.

“As we contain threats to peace, we shall also retool our foreign policy to more actively lead the regional and continental quest for collective prosperity.”

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Taliban Attacks Kill 23 In Northwestern Pakistan

Published

4 hours ago

October 11, 2025

Editor

The Pakistani Taliban on Saturday claimed responsibility for deadly attacks in several northwestern districts that killed 20 security officials and three civilians.

The attacks, which included a suicide bombing on a police training school, were carried out on Friday in several districts of Khyber Pakhtunkhwa province that borders Afghanistan.

Militancy has surged in Khyber Pakhtunkhwa since the withdrawal of US-led troops from neighbouring Afghanistan in 2021 and the return of the Taliban government in Kabul.

Eleven paramilitary troops were killed in the border Khyber district, while seven policemen were killed after a suicide bomber rammed an explosives-laden car into the gate of a police training school, which was followed by a gun attack.

Five people, including three civilians, were killed in a separate clash in Bajaur district, security officials told AFP on Saturday.

The Pakistani Taliban, the Tehreek-e-Taliban (TTP), claimed responsibility for the attacks in messages on social media. The group is separate from but closely linked with the Afghan Taliban.

The attacks came hours after Afghanistan’s Taliban government accused Pakistan of “violating Kabul’s sovereign territory”, a day after two explosions were heard in the capital.

Pakistan did not say if it was behind the blasts in Kabul, but said it had the right to defend itself against surging border militancy.

Islamabad accuses Afghanistan of failing to expel militants using Afghan territory to launch attacks on Pakistan, an accusation that authorities in Kabul deny.

The TTP and its affiliates are behind most of the violence — largely directed at security forces.

Including Friday’s attacks, at least 32 Pakistani troops and three civilians have been killed this week alone in the border regions.

AFP

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US Threatens To Sanction Countries That Vote For Shipping Carbon Tax

Published

4 hours ago

October 11, 2025

Editor

The United States on Friday threatened to impose sanctions and take other punitive action against any country that votes in favor of a carbon tax on maritime transportation to be implemented through a UN agency.

“We will fight hard to protect our economic interests by imposing costs on countries if they support” the Net Zero Framework, said a joint statement by US Secretary of State Marco Rubio and his counterparts at the departments of energy and transportation.

Members of the London-based International Maritime Organization (IMO) are set to vote next week on the adoption of the Net Zero Framework (NZF) agreement aimed at reducing global carbon emissions from the shipping sector.

Washington, however, described the proposal as imposing “a global carbon tax on the world.”

Since returning to power in January, US President Donald Trump has reversed Washington’s course on climate change, denouncing it as a “scam” and encouraging fossil fuel use by deregulation.

In the statement, Rubio, Energy Secretary Chris Wright and Transportation Secretary Sean Duffy said the Trump administration “unequivocally rejects” the NZF proposal.

They threatened a range of punishing actions against countries that vote in favor of the framework, including: visa restrictions; blocking vessels registered in those countries from US ports; imposing commercial penalties; and considering sanctions on officials.

“The United States will be moving to levy these remedies against nations that sponsor this European-led neocolonial export of global climate regulations,” the statement said.

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Top 10 Most Powerful Countries In The World In 2025 And Why

Published

4 hours ago

October 11, 2025

Editor

Power in the global arena is no longer measured by military strength alone; for powerful countries, it encompasses economic resilience, political influence, technological advancement, cultural impact, and the ability to shape international alliances.

A new ranking by US News, developed in partnership with the BAV Group (a division of WPP) and Professor David Reibstein from the Wharton School, University of Pennsylvania, highlights the countries that command the greatest global influence in 2025.

How the Rankings Were Compiled
The Power Sub-Ranking by US News was determined based on an equally weighted average of five key attributes that signify a country’s global might:

Top 10 Most Powerful Countries in the World (2025)

United States – With a GDP of $30.34 trillion and a population of about 347 million, the U.S. remains the world’s most powerful nation, driven by its unmatched military, technological innovation, and global leadership.

China – The Asian powerhouse holds the second spot with a $19.53 trillion GDP and 1.415 billion people, maintaining significant influence in global trade, manufacturing, and diplomacy.

Russia – Despite economic challenges, Russia retains its strategic importance and military dominance, with a GDP of $2.2 trillion and a population of 143.8 million.

United Kingdom – The UK’s global clout stems from its strong economy ($3.73 trillion GDP) and active role in international politics and defense alliances.

Germany – As Europe’s largest economy, Germany boasts a GDP of $4.92 trillion and a population of 83.9 million, solidifying its leadership in technology, industry, and diplomacy.

South Korea – With a $1.95 trillion GDP and a population of 51.6 million, South Korea’s rise reflects its technological innovation and growing military strength.

France – A key European player with a $3.28 trillion GDP, France continues to wield influence through its diplomatic reach, defense capabilities, and global culture.

Japan – Boasting a $4.39 trillion GDP and 123.7 million people, Japan remains a technological and economic force in Asia.

Saudi Arabia – The kingdom’s $1.14 trillion economy and control over global energy markets reinforce its growing geopolitical importance.

Israel – With a $550.91 billion GDP and a population of 9.38 million, Israel earns its place among the top 10 thanks to its advanced military and leadership in innovation and technology.