Tinubu: Subsidy removal, exchange rate regulation may cause initial hardship
Incoming President Bola Tinubu yesterday gave a hint of what his early days in office might entail.
Looking ahead of his Monday inauguration as Nigeria’s 16th leader, Tinubu said things might not be as rosy as some people are expecting.
He identified the pending plan to remove petrol subsidy and the need to end the multiple foreign currency exchange rates as issues that would pose initial challenge to the incoming administration.
He spoke through Vice President-elect Kashim Shettima at the 2023 Presidential Inauguration lecture held at the National Mosque, Abuja.
But he appealed for the support of everyone as efforts are made to deconstruct the maze of challenges facing the nation, declaring that the time had come for all Nigerians to stand together and face the challenges.
Shettima said: “Ours is a great nation waiting to unleash its great potentials to the world.
“China was once called a sleeping giant, but today, China has woken up. Nigeria needs to wake up.
“We are calling on all of you to pray for us for God’s guidance. I want to assure you that Tinubu will hit the ground running.
“We do not have the luxury of time. The challenges facing us are getting worse. We are living in a pressing time.
“You can rest assured that in the fullness of time, Nigeria will pay glowing tributes to us.
“The starting point might not be rosy; let me be very honest with you.
“Oil subsidy is an albatross on our necks. The multiple exchange rate system is a drain on the national economy.
“There are certain decisions the President-elect will take, but in the fullness of time, Nigerians will not only appreciate but also celebrate us.”
Read Also: Senator urges Tinubu to prioritise fuel subsidy removal, census
Continuing, he said: “As the Chinese will say, the worst curse that a Chinese man may wish on you is for you to live in interesting times. And indeed, we are living in interesting times.
“But rest assured that in the fullness of time, Nigerians will come to pay glowing tributes to Asiwaju Bola Ahmed Tinubu.
We’re here — we’re leaders — not because of our intellect. Neither Kashim Shettima nor Asiwaju Bola Ahmed Tinubu holds any PhD degree.
“We are what we are not because of our physical powers. We are what we are, not because of our political sagacity. There are better politicians.
“Power, to us, will be a humbling experience. It’s an opportunity to serve God and humanity. And whether we accept it or not, we are going to spend more years of our lives outside power than in power.”
He pledged that women would be well represented and compensated in the incoming administration.
Buhari, represented by the Secretary to the Government of the Federation, Boss Mustapha, said the economic, security and other problems faced under his watch were not peculiar to Nigeria.
But he said the way Nigerians handled the problems showed that they surmounted other challenges and shall overcome.
He said: “The problems we have had within the economic, security and social sector are not peculiar to us. The potentials are always there to make the country great.
“How we managed during COVID-19 and the Russian /Ukrainian war among others have shown how Nigerians can come out of difficult situations.”
He urged Nigerians to set aside their differences in the polls and support the incoming administration.
Buhari said: “Elections have come and gone. Another set of leaders has been elected. It is our duty to give them the necessary cooperation to enable them deliver on their plans towards transforming Nigeria.
“As citizens we must turn our differences into our source of strength to enable progressive development.
“We must also strive to ensure peaceful coexistence, harmony, respect for the rule of law.
“A solid foundation has been laid in the last administration for successive administrations to build on.”
In a goodwill message during the lecture, Joint Admissions and Matriculation Board (JAMB) Registrar Ish-haq Oloyede said Tinubu’s victory in the February 25 election was sanctioned by God following the APC flag bearer’s desire for it.
Oloyede recalled the ’emi lokan’ (it’s my turn) statement by the President-elect on June 2, 2022 in Abeokuta and said God in his wisdom granted the request.
His words: “When Asiwaju said ‘Emi lokan’, Allah accepted it because Quran 15:5 and Quran 23:42 say no group can, on its own, hasten his own term and turn, nor can it be delayed by anybody. That is Quran 15:5.
“So, it is almighty Allah who has said “Iwo lokan” (It’s your turn).
He prayed that God might grant the President-elect and the Vice President-elect a successful tenure in good health, sound mind and divine guidance.
“May the almighty Allah who has granted Asiwaju — the meaning of Asiwaju is ‘the leader’ — the victory of power not to strip him of the garment of honour,” he said.
