BAT has arrived.
We extend our warmest felicitations to President Bola Ahmed Tinubu.
Based on his inaugural speech, we strongly recommend reviewing the President’s campaign manifesto if you have not done so already. It contains numerous valuable insights (for your investment and business decisions) that reflect the envisioned policies of the new administration.
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In this update, we have combined some of his statements from today with his manifesto, revealing a strong sense of conviction by the President.
On Subsidy:
Today, he said: “Fuel subsidy is gone.”
“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.”
Manifesto: “We shall phase out the fuel subsidy yet maintain the underlying social contract between government and the people. We do this by dedicating the money that would have been used on the subsidy to fund targeted infrastructural, agricultural and social welfare programs…”
On Agriculture:
Today, President Bola Ahmed said: “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…”
Manifesto: “We shall introduce commodity boards to establish minimum prices for strategic crops such as cashew, cocoa, sesame, soya, cassava, yam, rubber, okra, palm kernels, groundnut and okra.”
Other highlights from the manifesto:
Technology: Within his first two years, the President intends to utilize this sector as a primary source of employment for the youth demographic.
Manufacturing: He is open to harnessing regional benefits to optimize the overall prosperity of the nation. In the North West and North East regions, there will be a concentration on textiles in the establishment of new industrial hubs.
The South East and South-South regions will prioritize labor-intensive manufacturing by establishing a new hub and dry port for investment. In the Southwest region, the abundant fine quality sand resources will be utilized to produce the finest quality glass products.
We have condensed the extensive 80-page manifesto for your convenience. Kindly find the complete summary available for download below.