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DailyLegendng
President Bola Tinubu says his administration will target a higher Gross Domestic Product (GDP) growth and to significantly reduce unemployment.
Tinubu said this in his inaugural address as the 16th president of Nigeria on Monday in Abuja.
He said his team intends to accomplish it through budgetary reform, adding that stimulating the economy without engendering inflation would be instituted.
He added that industrial policy would utilise 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,” he said.
On job creation, the president said his administration must create meaningful opportunities for the youth, assuring that he would honour his campaign commitment of one million new jobs in the digital economy.
He said his government would also work with the National Assembly to fashion an omnibus Jobs and prosperity bill that would give 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.