President Bola Ahmed Tinubu was officially sworn in as the 16th democratically elected president of the Federal Republic of Nigeria amid colourful events and a festive mood at Eagle Square on Monday.
Tinubu made his first inaugural speech as he hit the ground running by declaring the removal of fuel subsidies, promising 1 million jobs, and others.
Read the full speech below:
The Nigerian Ideal
My fellow citizens,
I stand before you with honour to assume the sacred mandate you have given me. My love for this nation is abiding. My confidence in its people is unwavering. And my faith in God Almighty is absolute. I know that His hand will provide the needed moral strength and clarity of purpose in those instances when we seem to have reached the limits of our human capacity.
This day is bold and majestic yet bright and full of spirit, as is our precious nation.
As a nation, we have long ago decided to march beyond the dimness of night into the open day of renewed national hope.
The question we now ask ourselves is whether to remain faithful to the work inherent in building a better society or retreat into the shadows of our unmet potential.
For me, there is only one answer. We are too great a nation and too grounded as a people to rob ourselves of our finest destiny.
This nation’s journey has been shaped by the prayers of millions and the collective sacrifices of us all.
We have endured hardships that would have made other societies crumble.
Yet, we have shouldered the heavy burden to arrive at this singular moment where the prospect of a better future merges with our improved capacity to create that future.
To the surprise of many but not of ourselves, we have more firmly established this land as a democracy in both word and deed.
The peaceful transition from one government to another is now our political tradition. This handover symbolizes our trust in God, our enduring faith in representative governance, and our belief in our ability to reshape this nation into the society it was always meant to be.
Here, permit me to say a few words to my predecessor, President Muhammadu Buhari. Mr. President, you have been an honest, patriotic leader who has done his best for the nation you love. On a more personal note, you are a worthy partner and friend. May history be kind to you.
For many years, Nigeria’s critics have circulated the rumour that our nation will break apart or even perish.
Yet here we are. We have stumbled at times, but our resilience and diversity have kept us going.
Our burdens may make us bend at times, but they will never break us.
Instead, we stand forth as Africa’s most populous nation and as the best hope and strongest champion of the black race.
As citizens, we declare, as one unified people devoted to one unified national cause, that as long as this world exists, Nigeria shall exist.
Today, fate and destiny join together to place the torch of human progress in our very hands. We dare not let it slip.
We lift this torch high so that it might shine on every household and in every heart that calls itself Nigerian. We hold this beam aloft because it lights our path with compassion, brotherhood, and peace. May this great light never die.
Our administration will govern on your behalf but never rule over you. We shall consult and dialogue but never dictate. We shall reach out to all but never put down a single person for holding views contrary to our own.
We are here to further mend and heal this nation, not tear and injure it.
In this vein, may I offer a few comments regarding the election that brought us to this juncture? It was a hard-fought contest. And it was also fairly won. Since the advent of the Fourth Republic, Nigeria has not held an election of better quality.
The outcome reflected the will of the people. However, my victory does not render me any more Nigerian than my opponents. Nor does it render them any less patriotic.
They shall forever be my fellow compatriots. And I will treat them as such. They represent important constituencies and concerns that wisdom dares not ignore.
They have taken their concerns to court. Seeking legal redress is their right, and I fully defend their exercise of this right. This is the essence of the rule of law.
Over six decades ago, our founding fathers gave bravely of themselves to place Nigeria on the map as an independent nation.
We must never allow the labour of those who came before us to wither in vain, but to blossom and bring forth a better reality.
Let us take the next great step in the journey they began and believed in.
Today, let us recommit our very selves to placing Nigeria in our hearts as the indispensable home for every one of us, regardless of creed, ethnicity, or place of birth.
My supporters, I thank you. To those who voted otherwise, I extend my hand across the political divide. I ask you to grasp it in terms of national affinity and brotherhood. For me, political coloration has faded away. All I see are Nigerians.
May we uphold these fitting and excellent notions as the new Nigerian ideal.
My fellow compatriots,
The Nigerian ideal of which I speak is more than just an improvement in economics and other statistics. These things are important, but they can never convey the fullness of our story.
Our mission is to improve our way of life in a manner that nurtures our humanity, encourages compassion toward one another, and duly rewards our collective effort to resolve the social ills that seek to divide us.
Our constitution and laws give us a nation on paper. We must work harder at bringing these noble documents to life by strengthening the bonds of economic collaboration, social cohesion, and cultural understanding. Let us develop a shared sense of fairness and equity.
The South must not only seek good for itself but also understand that its interests are served when good comes to the North. The North must see the South likewise.
Whether from the winding creeks of the Niger Delta, the vastness of the northern savannah, the boardrooms of Lagos, the bustling capital of Abuja, or the busy markets of Onitsha, you are all my people. As your president, I shall serve with prejudice towards none but compassion and amity towards all.
In the coming days and weeks, my team will publicly detail key aspects of our programme. Today, permit me to outline in broad terms a few initiatives that define our concept of progressive good governance in furtherance of the Nigerian ideal:
The principles that will guide our administration are simple:
1. Nigeria will be impartially governed according to the constitution and the rule of law.
2. We shall defend the nation from terror and all forms of criminality that threaten the peace and stability of our country and our subregion.
3. We shall remodel our economy to bring about growth and development through job creation, food security, and an end to extreme poverty.
4. In our administration, women and youth will feature prominently.
5. 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.
Security
Security shall be the top priority of our administration because neither prosperity nor justice can prevail amidst insecurity and violence.
To effectively tackle this menace, we will 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.
The Economy
On the economy, we target higher GDP growth and a significantly reduced rate of unemployment.
We intend to accomplish this by taking the following steps:
First, budgetary reform will stimulate the economy without engendering inflation.
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 for businesses and homes alike. Power generation should nearly double, and transmission and distribution networks should be 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 taxes and various anti-investment inhibitions.
We shall ensure that investors and foreign businesses repatriate their hard-earned dividends and profits home.
Jobs
My administration must create meaningful opportunities for our youth. We shall honour our campaign commitment to create one million new jobs in the digital economy.
Our government will also 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.
Agriculture
Rural incomes shall be secured by commodity exchange boards guaranteeing minimal prices for certain crops and animal products. 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 the best modern practices and steps taken to minimize the perennial conflict over land and water resources in this sector.
Through these actions, food will be made more abundant yet less costly. Farmers will earn more while the average Nigerian pays less.
Infrastructure
We shall continue the efforts of the Buhari administration on infrastructure. Progress towards national networks of roads, rail, and ports shall get priority attention.
Fuel Subsidy
We commend the decision of the outgoing administration to phase out the gasoline subsidy regime, which has increasingly favoured the rich over the poor. Subsidies can no longer justify their 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.
Monetary Policy
Monetary policy needs thorough housecleaning. The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plants, 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 will be reviewed. In the meantime, my administration will treat both currencies as legal tender.
Foreign Policy
Given the world in which we reside, please permit a few comments regarding foreign policy.
The crisis in Sudan and the turn towards 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 sub-region and the African continent. We shall work with ECOWAS, the AU, and willing partners in the international community to end existing conflicts and 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.
Conclusion
This is the proudest day of my life. But this day does not belong to me. It belongs to you, the people of Nigeria.
On this day, Nigeria affirms its rightful place among the world’s great democracies. There, Nigeria shall reside forever.
The course of our past and the promise of the future have brought us to this exceptional moment.
In this spirit, I ask you to join me in making Nigeria a more perfect nation and democracy, such that the Nigerian ideal becomes and forever remains the Nigerian reality.
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.
May God bless you, and may He bless our beloved land.
