Announces Fuel Subsidy Removal
Bola Ahmed Tinubu has been sworn in as the 16th President of Nigeria, on the morning of Monday, May 29th. He took his oath of office which was presided over by the Chief Justice of Nigeria, Justice Kayode Ariwoola, at Eagles Square Abuja.
Recall, Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu declared the presidential candidate of the All Progressives Congress (APC), Bola Ahmed Tinubu as the winner of the 2023 February 25th presidential election.
Controversies serenaded Tinubu’s win as opposition parties, The Peoples Democratic party (PDP), Labour Party and Action Peoples party (APP) filed suits at the Presidential Election Petition Tribunal in Abuja against Bola Ahmed Tinubu’s victory.
While the presidential candidate of PDP, Atiku Abubakar filed a suit seeking the disqualification of Tinubu and his vice, Kashim Shettima over alleged double nomination. Peter Obi and the Labour party on the other hand filed a petition challenging the Independent National Electoral Commission’s declaration of Bola Ahmed Tinubu of the All Progressives Congress, APC, as the winner of the election.
Obi and Labour Party are praying the court that at the time of the Presidential election, Tinubu and Kashim Shettima were not qualified to contest for the office of the president of Nigeria .
In the petitions based mainly on double nomination, the petitioners also asked the tribunal to declare all the votes recorded for Tinubu in the February 25, presidential election as wasted, considering the non-qualification of Tinubu and Shetima.
During the ceremony, Tinubu announced the removal of the fuel subsidy regime in which the Federal Government imported fuel and sold at subsidized rates in the country. The scheme had severally been characterized with corruption and fraud costing the nation billions of dollars. With the removal, there is sure to be a response from organized labour and interested parties as the price of fuel (petrol) will surely hit the roof in one of the world’s poorest countries with unemployment rates above 40%.
Watch Tinubu’s swearing in below;