Politics
Full Speech Of President Asiwaju Bola Tinubu Inauguration Ceremony
FIRST INAUGURAL ADDRESS BY PRESIDENT BOLA AHMED TINUBU 29 MAY 2023
THE NIGERIAN IDEAL
My Fellow Citizens,
I stand before you honoured to assume the sacred mandate you have given me. My love for this nation is abiding. My confidence in its people, unwavering. And my faith in God Almighty, absolute. I know that His hand shall provide the needed moral strength and clarity of purpose in those instances when we seem to have reached the limits of our human capacity.
This day is bold and majestic yet bright and full of spirit, as is our precious nation.
As a nation, we have long ago decided to march beyond the dimness of night into the open day of renewed national hope.
The question we now ask ourselves is whether to remain faithful to the work inherent in building a better society or retreat into the shadows of our unmet potential.
For me, there is but one answer. We are too great a nation and too grounded as a people to rob ourselves of our finest destiny.
This nation’s journey has been shaped by the prayers of millions, and the collective sacrifices of us all.
We have endured hardships that would have made other societies crumble.
Yet, we have shouldered the heavy burden to arrive at this SUBLIME moment where the prospect of a better future merges with our improved capacity to create that future.
To the surprise of many but not to ourselves, we have more firmly established this land as a democracy in both word and deed.
The peaceful transition from one government to another is now our political tradition. This handover symbolizes our trust in God, our enduring faith in representative governance and our belief in our ability to reshape this nation into the society it was always meant to be.
Here, permit me to say a few words to my predecessor, President Muhammadu Buhari Mr President, you have been an honest, patriotic leader who has done his best for the nation you love. On a more personal note, you are a worthy partner and friend. May History be kind to you.
For many years, Nigeria’s critics have trafficked the rumour that our nation will break apart, even perish.
Yet here we are. We have stumbled at times, but our resilience and diversity have kept us going.
Our burdens may make us bend at times, but they shall never break us.
Instead, we stand forth as Africa’s most populous nation and as the best hope and strongest champion of the Black Race.
As citizens, we declare as one unified people devoted to one unified national cause, that as long as this world exists, NIGERIA SHALL EXIST.
Today, Fate and Destiny join together to place the torch of human progress in our very hands. We dare not let it slip.
We lift high this torch so that it might shine on every household and in every heart that calls itself Nigerian. We hold this beam aloft because it lights our path with compassion, brotherhood, and peace. May this great light never EXTINGUISH.
Our administration shall govern on your behalf but never rule over you. We shall consult and dialogue but never dictate. We shall reach out to all but never put down a single person for holding views contrary to our own.
We are here to further mend and heal this nation, not tear and injure it.
In this vein, may I offer a few comments regarding the election that brought us to this juncture. It was a hard fought contest. And it was also fairly won. Since the advent of the Fourth Republic, Nigeria has not held an election of better quality.
The outcome reflected the will of the people. However, my victory does not render me any more Nigerian than my opponents. Nor does it render them any less patriotic.
They shall forever be my fellow compatriots. And I will treat them as such. They represent important constituencies and concerns that wisdom dare not ignore.
They have taken their concerns to court. Seeking legal redress is their right and I fully defend their exercise of this right. This is the essence of the rule of law.
Over six decades ago, our founding fathers gave bravely of themselves to place Nigeria on the map as an independent nation.
We must never allow the labor of those who came before us to wither in vain but to blossom and bring forth a better reality.
Let us take the next great step in the journey they began and believed in.
Today, let us recommit our very selves to placing Nigeria in our hearts as the indispensable home for each and every one of us regardless of creed, ethnicity, or place of birth.
My supporters, I thank you. To those who voted otherwise, I extend my hand across the political divide. I ask you to grasp it in national affinity and brotherhood. For me, political coloration has faded away. All I see are Nigerians.
May we uphold these fitting and excellent notions as the new Nigerian ideal.
My fellow compatriots,
The Nigerian ideal which I speak of is more than just an improvement in economic and other statistics. These things are important; but they can never convey the fullness of our story.
Our mission is to improve our way of life in a manner that nurtures our humanity, encourages compassion toward one another, and duly rewards our collective effort to resolve the social ills that seek to divide us.
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.
In the coming days and weeks, my team will publicly detail key aspects of our programme. Today, permit me to outline in broad terms a few initiatives that define our concept of progressive good governance in furtherance of the Nigerian ideal:
The principles that will guide our administration are simple:
1. Nigeria will be impartially governed according to the constitution and the rule of law.
2. We shall defend the nation from terror and all forms of criminality that threaten the peace and stability of our country and our subregion.
3. We shall remodel our economy to bring about growth and development through job creation, food security and an end of extreme poverty.
4. In our administration, Women and youth will feature prominently.
5. Our government will continue to take proactive steps such as championing a credit culture to discourage corruption while strengthening the effectiveness and efficiency of the various anti-corruption agencies.
SECURITY
Security shall be the top priority of our administration because neither prosperity nor justice can prevail amidst insecurity and violence.
To effectively tackle this menace, we shall reform both our security DOCTRINE and its ARCHITECTURE.
We shall invest more in our security personnel, and this means more than an increase in number. We shall provide, better training, equipment, pay and firepower.
THE ECONOMY
On the economy, we target a higher GDP growth and to significantly reduce unemployment.
We intend to accomplish this by taking the following steps:
First, budgetary reform stimulating the economy without engendering inflation will be instituted.
Second, industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.
Third, electricity will become more accessible and affordable to businesses and homes alike. Power generation should nearly double and transmission and distribution networks improved. We will encourage states to develop local sources as well.
I have a message for our investors, local and foreign: our government shall review all their complaints about multiple taxation and various anti-investment inhibitions.
We shall ensure that investors and foreign businesses repatriate their hard earned dividends and profits home.
JOBS
My administration must create meaningful opportunities for our youth. We shall honour our campaign commitment of one million new jobs in the digital economy.
Our government also shall work with the National Assembly to fashion an omnibus Jobs and Prosperity bill. This bill will give our administration the policy space to embark on labour-intensive infrastructural improvements, encourage light industry and provide improved social services for the poor, elderly and vulnerable.
AGRICULTURE
Rural incomes shall be secured by commodity exchange boards guaranteeing minimal prices for certain crops and animal products. A nationwide programme for storage and other facilities to reduce spoilage and waste will be undertaken.
Agricultural hubs will be created throughout the nation to increase production and engage in value-added processing. The livestock sector will be introduced to best modern practices and steps taken to minimize the perennial conflict over land and water resources in this sector.
Through these actions, food shall be made more abundant yet less costly. Farmers shall earn more while the average Nigerian pays less.
INFRASTRUCTURE
We shall continue the efforts of the Buhari administration on infrastructure. Progress toward national networks of roads, rail and ports shall get priority attention.
FUEL SUBSIDY
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. 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.
MONETARY POLICY
Monetary policy needs thorough housecleaning. The Central Bank must 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.
Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level.
Whatever merits it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians. The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.
FOREIGN POLICY
Given the world in which we reside, please permit a few comments regarding foreign policy.
The crisis in Sudan and the turn from democracy by several nations in our immediate neighbourhood are of pressing concern.
As such, my primary foreign policy objective must be the peace and stability of the West African subregion and the African continent. We shall work with ECOWAS, the AU and willing partners in the international community to end extant conflicts and to resolve new ones.
As we contain threats to peace, we shall also retool our foreign policy to more actively lead the regional and continental quest for collective prosperity.
CONCLUSION
This is the proudest day of my life. But this day does not belong to me. It belongs to you, the people of Nigeria.
On this day, Nigeria affirms its rightful place among the world’s great democracies. There, Nigeria shall reside forever.
The course of our past and the promise of the future have brought us to this exceptional moment.
In this spirit, I ask you to join me in making Nigeria a more perfect nation and democracy such that the Nigerian ideal becomes and forever remains the Nigerian reality.
With full confidence in our ability, I declare that these things are within our proximate reach because my name is Bola Ahmed Tinubu, and I am the President of the Federal Republic of Nigeria.
May God bless you and May He bless our beloved land.
The dust is yet to settle on the issue of ₦11.2 trillion receivables debited to the Federation by state oil major, the Nigerian National Petroleum Company Limited (NNPC Ltd) raised by former Vice President Atiku Abubakar.
A pressure group, the Transparency Network and Public Interest Initiative has tackled the presidential candidate of the African Democratic Congress (ADC), over the questions he raised on the possibility of the fund being coded for government contractors, pipeline protection and President Bola Tinubu’s re-election campaign.
According to the group, the figure recorded in the NNPC Ltd’s accounts represents obligations owed to the company for advances and costs incurred on behalf of the Federation, rather than evidence that the money was funnelled into political activities.
Its spokesperson, Dr Ehizojie Emmanuel Anderson, made the remarks in a statement issued in Abuja on Monday.
Recall that Atiku, running the presidency under the ADC had called for greater disclosure concerning the ₦11.2 trillion recorded in NNPC Ltd’s 2025 accounts as other receivables from the Federation.
In a statement issued on his behalf by the Director of Strategic Communication of the ADC Presidential Campaign Council, Phrank Shaibu, the former Vice President asked the national oil company to disclose how much of the receivables related to protecting Nigeria’s oil and gas infrastructure, the payments made, contractors involved and services provided.
He separately raised questions about whether government contractors had provided financial or material support to Tinubu’s re-election activities.
The allegations of a connection between government contracts and political campaign financing have not been independently established.
Responding to Atiku’s comments, Anderson argued that the accounting treatment of the ₦11.2 trillion needed to be distinguished from payments made to individual contractors.
“These are not hidden campaign funds. They are recorded Federation obligations, disclosed by the company itself, accumulated over time, and tied to advances and the cost of protecting national oil and gas assets under an approved framework,” Anderson said.
He accused the former Vice President of politicising the NNPC Ltd’s financial disclosures and said scrutiny of the national oil company’s operations should be based on its accounts and other documentary evidence.
The NNPC Ltd’s 2025 financial statements recorded approximately ₦11.2 trillion under other receivables from the Federation.
The company’s accounts describe such receivables as relating to advances to the Federation and costs incurred in securing the country’s oil and gas assets.
The figure does not, by itself, establish that ₦11.2 trillion was paid to pipeline surveillance contractors.
Atiku’s argument was that the aggregate figure did not provide sufficient detail to determine how much was specifically spent on pipeline security, who received payments and what results were achieved.
The Transparency Network maintained that NNPC’s disclosure of the receivables showed that the transactions were captured in its financial records.
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Anderson also defended the company’s management under Group Chief Executive Officer Bayo Ojulari, arguing that the publication of financial information should encourage evidence-based scrutiny of its operations.
He said the ₦11.2 trillion figure should not be interpreted as evidence of campaign financing without documentary proof establishing such a connection.
“A man who has read the report would not be asking Nigerians to treat a multi-year receivable as proof that NNPC is bankrolling a political campaign,” Anderson said.
Atiku’s statement, however, sought a more detailed disclosure of the components of the receivable and separately questioned the relationship between government contractors and political campaign financing.
He specifically called for the publication of relevant contracts, payment records, procurement information and outcomes associated with oil and gas infrastructure protection.
The former Vice President also raised questions about Tantita Security Services, which has been involved in pipeline surveillance, and demanded disclosure of any financial or material support government contractors may have provided to Tinubu’s re-election activities.
The Transparency Network rejected attempts to draw a connection between the NNPC Ltd’s receivables and political campaign financing without evidence.
Anderson said the company’s reforms under Ojulari should instead be assessed against its financial disclosures, operating performance and compliance with applicable accountability requirements.
“The attack on the oil giant is unnecessary and unwarranted,” he said.
The group also criticised Atiku’s previous position on restructuring and private-sector participation in the national oil industry, while arguing that the NNPC Ltd should be allowed to continue its current reforms.
It called for public debate over the company’s finances to focus on documented expenditure, contractual arrangements and audited financial information rather than political allegations.
The dispute places renewed attention on the level of detail contained in the NNPC Ltd’s financial disclosures.
While the company’s accounts identify the broad nature of its receivables from the Federation, Atiku has argued that Nigerians should be provided with a more detailed breakdown of expenditure associated with protecting oil and gas infrastructure.
The Transparency Network, on the other hand, maintains that the existence of the receivable in the NNPC Ltd’s accounts should not be presented as evidence of political campaign financing without further proof.
Nigeria’s former Vice-President, Atiku Abubakar has decried the whooping sum of ₦11.2 trillion receivables debit to the Federation Account as expenditure on pipeline security and payments to contractors by the Nigerian National Petroleum Company Limited (NNPC Ltd).
Alleging that the large sums were being diverted to electioneering campaigns, Atiku, the African Democratic Congress (ADC) presidential candidate, called on President Bola Tinubu to disclose details of the transactions.
Specifically, Atiku demanded the publication of contracts, payment records and project outcomes linked to oil and gas infrastructure protection.
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In a statement issued on Sunday by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku questioned how much of the amount was spent on pipeline surveillance, the beneficiaries of the payments and the results achieved.
“NNPC’s 2024 accounts recorded roughly ₦17.5 trillion across different claims on the Federation, including petrol under-recovery and other receivables linked to advances and asset protection. Its 2025 accounts now show approximately ₦11.2 trillion in other receivables from the Federation,” he said.
Atiku said the figures did not clearly establish the amounts spent specifically on pipeline protection, urging the government to provide a breakdown of the expenditure.
He also compared the ₦11.2 trillion in receivables with the approximately ₦3.1 trillion allocated to the Ministry of Defence in 2025, arguing that Nigerians deserved greater transparency in public spending on security.
The former vice-president further called for disclosure of the contractual arrangements involving companies engaged in major infrastructure and pipeline security projects.
He specifically questioned the pipeline surveillance contract held by Tantita Security Services Nigeria Limited and the Lagos-Calabar Coastal Highway contract awarded to a company linked to the Chagoury family.
Atiku urged the government to publish relevant contract documents, bidding procedures, evaluation records and payment details to enable Nigerians to scrutinise the awards.
He also called for disclosure of any financial or material support provided by government contractors to Tinubu’s re-election activities, alleging that potential links between public contracts and political financing required clarification.
The ADC presidential candidate said transparency was particularly important amid security challenges, economic hardship and concerns about the government’s use of public resources.
He criticised the administration’s economic policies and called for measures to reduce the cost of living, improve electricity supply and strengthen public safety.
Atiku also faulted Tinubu’s recent remarks about enjoying his stay in Europe, arguing that the comments did not reflect the difficulties confronting many Nigerians.
The former vice-president said his administration, if elected in 2027, would prioritise making living costs more affordable.
The Presidency and the companies mentioned were not represented in the statement, and the allegations concerning contract awards and possible campaign financing were not independently established in the material provided.
Edo State Commissioner for Information and Strategy, Kassim Afegbua, has accused the presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, of showing “symptoms of desperation” over his promise to restore fuel subsidy if elected president in 2027.
Afegbua made the remarks during an interview while reacting to Atiku’s position on the removal of petrol subsidy and the former vice president’s renewed call for government intervention in fuel pricing.
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According to him, Atiku, Peter Obi and President Bola Ahmed Tinubu had all campaigned ahead of the 2023 presidential election on the need to remove fuel subsidy.
“Now, talking about fuel subsidy, I think the ADC candidate is showing symptoms of desperation,” Afegbua said.
He argued that Tinubu, after winning the 2023 election, implemented the removal of the petrol subsidy, adding that anyone seeking its return should be properly scrutinised because, in his view, the previous subsidy regime created opportunities for fraud and contributed to the decline of Nigeria’s refineries.
“Anybody who is planning to bring back subsidy, that person should be examined properly, because that person is trying to bring back subsidy scammers, saboteurs, and buccaneers who held down Nigeria for so long using subsidy and crippled our refineries,” he said.
Afegbua also alleged that the ADC was experiencing financial difficulties and suggested that this was influencing its campaign messaging.
“The ADC, as it were today, is undergoing some financial strain. So they are looking for every opportunity to rake in money and all of that,” he said.
The Edo commissioner, however, acknowledged that Nigerians were still facing the effects of high fuel and transportation costs, pointing to ongoing government interventions, including the planned commissioning of 50 CNG buses in Edo State.
He said the buses, expected to be commissioned on October 15, would be distributed across the three senatorial districts and would provide free transportation for passengers.
Recall that Atiku had on August 20, 2026, pledged to restore petrol subsidy if elected president in the 2027 election.
Speaking during a Facebook Live session, the ADC candidate questioned how the resources previously spent on subsidy had been utilised following its removal.
“I initially did not oppose the removal of the fuel subsidy. But now that it has been removed, where is the money? Where has the subsidy money gone?” Atiku asked.
He subsequently said: “If I win the presidential election, I will restore the subsidy. And anyone who stole Nigeria’s subsidy funds must return the money.”
On August 25, Atiku further reaffirmed that his position had not changed, saying, “When I said I would return to subsidy, I will!”
He later clarified that the proposed intervention would be targeted and focused on supporting domestic production rather than simply returning to the former import-subsidy model.
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