- By Halimah Olamide
President Bola Tinubu on Monday promised not to rule over Nigerians but govern them in the best interests of the country.
Among other promises, Tinubu said hope is back to Nigeria while he promised comprehensive reviews of the monetary system and invest in critical sectors of the economy.
These were parts of the inaugural speech of the president who was sworn in on Monday.
Speaking on the diversity of Nigeria as a country, Tinubu said Nigeria is a country only on paper, he said its citizens must work to ensure that it becomes a reality.
He said, “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 must 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 toward none but compassion and amity towards all,” President Tinubu said.
On the nation’s monetary policy, the president said Nigeria’s monetary policy needs thorough housecleaning as he charged the Central Bank of Nigeria to work towards a unified exchange rate.
“This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.”
President Tinubu said his administration would treat both new and old naira notes as legal tender, saying despite it’s intended merits, the controversial currency swap policy of the CBN “was too harshly applied” given the number of unbanked Nigerians”.