No More Fuel Subsidy — Tinubu Declares In First Speech As President

Nigeria’s 16th President and Commander-in-Chief of the Armed Forces, Asiwaju Bola Ahmed Tinubu, dropped a bombshell in his acceptance speech by declaring an end to fuel subsidy.“Unfortunately, the budget makes no provision for fuel subsidy. So fuel subsidy is gone,” Tinubu said shortly after his swearing-in at Eagle Square in Abuja, the Nigerian capital.His swearing-in, amidst pomp and pageantry, took place at 10:37 a.m. and was performed by the Chief Justice of the Federation, Justice Olukayode Ariwola.The new President’s acceptance speech had to wait till around 1:00 p.m. due to other inauguration formalitiesPresident shortly after taking the Oath of Office proceeded to inspect the Brigade of Guards.This was closely followed by a ceremonial parade, air display by the Nigerian Air Force, cultural display as well as 21 Gun Salute.Senator Kashim Shettima was earlier sworn-in as the Vice-President of the Federal Republic of Nigeria at about 10:30 a.m.