Nigeria’s $10 Billion Fuel Subsidies Are ‘Gone,’ Tinubu Says
- President urges unified exchange rate, lower borrowing costs
- Government will target economic growth rate of 6% a year
Bola Tinubu,
Photographer: Kola Sulaimon/AFP/Getty Images
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Bola Tinubu took over as Nigeria’s president and pledged to scrap a costly fuel subsidy, address widening insecurity and revive Africa’s largest economy.
The 71-year-old former state governor was sworn in at a ceremony in the capital, Abuja, on Monday. He succeeds Muhammadu Buhari, who stepped down after two terms, and inherits a daunting list of problems to tackle in the continent’s most-populous nation.