APA – Lagos (Nigeria)
The assurance by President Bola Tinubu, who took the oaths of office and allegiance as the 16th President of Nigeria on Monday, with a vow that the country would not break up is one of the trending stories in Nigerian newspapers on Tuesday.
The Punch reports that President Bola Tinubu, on Monday, in Abuja, took the oaths of office and allegiance as the 16th President of Nigeria with a vow that the country would not break up.
Tinubu in his inaugural address at Eagle Square also unveiled a series of steps he would take to position the country on the path of economic development, stability and prosperity.
Shortly after his inauguration, the President met with envoys from the United Kingdom, United States, Saudi Arabia, Japan, Brazil, South Korea, Israel, Cape Verde, Somalia and Nicaragua at the Presidential Villa, Abuja.
The diplomats presented their goodwill messages and letters of support and solidarity to Tinubu.
Several African heads of state, diplomats and representatives of foreign governments also witnessed the colourful ceremony which featured a march past by the armed forces as well as dances and other performances by the National Troupe.
African leaders who graced the inauguration included President Paul Kagame of Rwanda, South African President, Cyril Ramaphosa, Algerian President, Abdelmadjid Tebboune, President of Tanzania, Samia Hassan; President of the Republic of Congo Brazzaville, Denis Nguesso, President of Guinea Bissau, Umaro Embaló and his Liberian counterpart, George Weah.
Also present were the President of Burundi, Évariste Ndayishimiye; the Transitional President of Chad, Mahamat Déby; the President of Niger Republic, Mohamed Bazoum; and President Nana Akufo-Ado of Ghana.
Delegations from Sierra Leonean and Qatar were also present. The Qatari team was led by the Foreign Minister, Sheikh Mohammed bin Abdulrahman Al Thani.
Representatives of the governments of the US, UK, Canada, India and others also attended the event.
The newspaper says that the Independent Petroleum Marketers Association of Nigeria has opposed the plan by President Bola Tinubu to enforce his predecessor’s decision to remove fuel subsidy by June ending.
Tinubu had earlier on Monday, in Abuja, affirmed that his administration would not continue to pay subsidy on petroleum products.
He said given the high opportunity cost the Federal Government was suffering to fund subsidies, it was no longer justifiable to continue.
“The fuel subsidy is gone!” Tinubu exclaimed during his inaugural address at Eagle Square, Abuja, shortly after he was sworn-in as the 16th President of Nigeria.
The President said “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 commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor.”
Tinubu said since there was no provision for subsidy in the budget from June 2023, and it stands removed.
On his economic agenda for the next four years, Tinubu said his administration would target a minimum annual GDP growth of six per cent. To do this, the new government will enact budgetary and tax reforms that will boost the economy and address multiple taxation that stymies foreign direct investment.
The Guardian reports that former Governor of Kaduna State, Nasir el-Rufai, has blamed ex-President Muhammadu Buhari’s administration for its inability to curb terrorism, noting that the ex-leader allegedly spurned the piece of advice he gave him to contain the crisis. He spoke during the inauguration of his successor, Senator Uba Sani, in Kaduna, yesterday.
El-Rufai said: “In 2017, I requested the Federal Government to designate the emerging banditry as an insurgency and to unleash on them (bandits) the full weight of the military. Sadly, this was not done until 2022, acting upon the declaration of the Federal High Court. It is a matter for regret that the Federal Government did not appreciate gravity of the problem until banditry had wreaked so much havoc to lives, liberty and livelihoods of so many people.
“Although coordinated military action began later in 2022, the job remains incomplete. I, therefore, urge the government to sustain the pressure on bandits, insurgents and terrorists, and make the military action comprehensive and simultaneous across the seven frontline states – six in the Northwest and Niger – that are most impacted.”
On his response to the challenge in Kaduna, El-Rufai said: “Our government worked hard to firmly confront the security challenges that emerged. The measures we took ensured that we did not record any statewide crisis over the last eight years.”
The newspaper says that to promote trade ties, Consul-General of France in Lagos, Laurence Monmayrant, has reaffirmed the French government’s commitment to the development of businesses and economic ties within Nigeria.
She stated this in Lagos when the President of the Franco-Nigerian Chamber of Commerce and Industry (FNCCI), Usman Mohammed, led her to the Nigerian Exchange Group (NGX Group) to perform the closing gong ceremony to officially close the day’s trading on Tuesday.
According to her, the French government is looking forward to working with NGX to have more brands listed on its platform in the coming year.
Monmayrant said: “I understand that a lot has been done since the demutualisation process. They have improved in many ways, whether on reutilisation and also finance which is a very interesting topic to us in France.
“It is very interesting for us to be here to see what is going on. You know we have 100 French companies in Nigeria and I came along with the Chairman of the Franco-Nigerian Chamber of Commerce and Industry and his board members. They have over 400 French and Nigerian companies as members, so you can see that we have strong economic and business ties with Nigeria.
“We also have a lot of investment in Nigeria, nearly $10 billion. It is very interesting to us to see what is happening here at the NGX. We wish for more cooperation between France and Nigeria for business and finance, this is what we promote at the French embassy and consulate with all French agencies here in Nigeria. So, it is very interesting to see what is going on. We want to promote ties within Nigeria and France,” she said.
Monmayrant, stated further that the Franco-Nigeria Chamber of Commerce is pleased with the exchange’s role in sustainability and finance, noting that these functions correspond with the chamber’s values.
Mohammed said the chamber is highly interested in partnering with the NGX, while expressing optimism going forward that French businesses will be listed on the exchange.
GIK/APA