UN Member States Cast Their Votes To Secure A Better Urban Future For All

UN Member States Cast Their Votes To Secure A Better Urban Future For All 

The second session of the United Nations Habitat Assembly opens in Nairobi, Kenya

Nairobi, Kenya (5 June 2023) – The second United Nations Habitat Assembly, #UNHA2, opens with a call for sustainable urban development and effective multilateralism to create more livable, sustainable, and resilient cities to emerge stronger after crises.

The Assembly is taking place from 5 to 9 June 2023 in Nairobi, Kenya. It is hosted by the government of Kenya in collaboration with UN-Habitat, the United Nations Human Settlements Programme. 

More than 80 Ministers and Vice Ministers, plan to attend the second session of the UN Habitat Assembly. Almost 5,000 delegates from around the world are representing member states and stakeholders at the Assembly. 

The President of Kenya, William Ruto, will open the Assembly. The First Lady of Kenya, Rachel Ruto, will host the inaugural First Ladies Roundtable on women and their role in placemaking in cities on 6 June 2023. 

“We must flip the script about cities. Cities are not only the source of problems. They can create and scale solutions. If planned, built, and managed well, they are the most sustainable form of human settlement and the answer to the climate emergency,” said the UN-Habitat Executive Director, Maimunah Mohd Sharif, ahead of the opening. “Local action and effective and inclusive multilateralism are indispensable for global progress. 

The five-day programme includes a high-level dialogue of the heads of state, thematic debates, and dialogues focusing on universal access to affordable housing, urban climate action, urban crises recovery, localization of the SDGs, and prosperity and local finance.

More than 30 side events will showcase innovative approaches and transformative actions linked to the five key areas highlighted in the report of the Executive Director on the special theme of the second United Nations Habitat Assembly. 

At the Urban Expo, more than 50 exhibitors will showcase urban projects, best practices, and cutting-edge solutions to tackle the challenges of housing, transport, energy, and climate change. The expo includes a special highlight showcasing 45 years of sustainable urbanization in Kenya.

The UN Member States will cast their votes with a number of resolutions expected to be tabled to guide regional, national, and local governments to secure a better urban future for all. These include:

• International guidelines on people-centered smart cities 

• Accelerating the transformation of informal settlements and slums by 2030

• World Clean-up Day

• Biodiverse and resilient cities 

• Localization of the Sustainable Development Goals

• Adequate housing for all 

The five-day session will conclude with a Ministerial Declaration upon reaching an agreement.

You can watch the live stream from the official opening press conference of the second United Nations Habitat Assembly on 5 June 2023 at 2:00 PM (EAT).

Follow this link.

About the second session of the United Nations Habitat Assembly (UNHA2) 

The second session of the United Nations Habitat Assembly will be held from 5 to 9 June 2023 in Nairobi, Kenya. The theme of the session is “A sustainable urban future through inclusive and effective multilateralism: achieving the Sustainable Development Goals in times of global crises.”

The United Nations Habitat Assembly is the global authority on urban trends and policies. It convenes once in four years. 193 UN Member States cast their votes, while participants also include non-Member States, other UN bodies and specialized agencies, as well as intergovernmental organizations, civil society, private sector, academia and research institutions, women, youth and children, and grassroots organizations.

About the UN Human Settlements Programme (UN-Habitat) 

UN-Habitat is the United Nations entity responsible for sustainable urbanization. It has programmes in over 90 countries that support policymakers and communities to create socially and environmentally sustainable cities and towns. UN-Habitat promotes transformative change in cities through knowledge, policy advice, technical assistance, and collaborative action. 

For more information, please contact: 

News and Media Unit, UN-Habitat

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Tribeca Festival Announces Stephanie Linus, Brendan Fraser, Chance the Rapper as 2023 Jury Members

Tribeca Festival Announces Stephanie Linus, Brendan Fraser, Chance the Rapper as 2023 Jury Members

The 2023 Tribeca Festival has officially unveiled its star-studded jury which includes the award-winning actress and filmmaker Stephanie Linus. She will be joining a roster of several dozen actors, writers, filmmakers and producers including Brendan Fraser, Chance the Rapper, Jeremy O. Harris and more to decide winners in 15 award categories.

 

The highly acclaimed festival which will run from June 7 to 18 in New York will present awards in categories spanning narrative and documentary features and shorts as well as the immersive storyscapes vertical, games and audio storytelling. All award winners will be announced at the Tribeca Festival ceremony on June 15.

 

Other members of the A-list jury includes Oscar nominee Stephanie Hsu (“Everything Everywhere All at Once”), Zoey Deutch (“The Politician”), Dianna Agron (“Glee”), Zazie Beetz (“Atlanta”), Kate Siegel (“Hush”), Nina Dobrev (“The Vampire Diaries”), Piper Perabo (“Covert Affairs”), Noah Centineo (“To All the Boys I’ve Loved Before”) and Chloë Grace Moretz (“Kick-Ass”).

 

The Tribeca Festival was founded in 2001 by Robert De Niro, Jane Rosenthal and Craig Hatkoff to spur the economic and cultural revitalization of lower Manhattan after 9/11. This year’s lineup will feature emerging and household names in 109 feature, narrative, documentary and animated films from 127 directors across 36 countries.

Happy New Month of June!

 

HALLELUJAH!

With all the thanksgivings to Almighty God, JEHOVAH JIREH,

I wish you and your family a month of Happiness, Success, Peace, Prosperity, Good Health, and Wealth.

May this new month bring you more joy, gladness, laughter and fun than ever before. 

Happy New Month to you.

Warner Bros. 100 Years of Storytelling

Warner Bros 100 Years of Storytelling

 By Mark A. Vieira

Foreword by Ben Mankiewicz

Description

In this official centennial history of the greatest studio in Hollywood, unforgettable stars, untold stories, and rare images from the Warner Bros. vault bring a century of entertainment to vivid life.

The history of Warner Bros.is not just the tale of a legendary film studio and its stars, but of classic Hollywood itself, as well as a portrait of America in the last century. It’s a family story of Polish-Jewish immigrants—the brothers Warner—who took advantage of new opportunities in the burgeoning film industry at a time when four mavericks could invent ways of operating, of warding off government regulation, and of keeping audiences coming back for more during some of the nation's darkest days.

Innovation was key to their early success. Four years after its founding, the studio revolutionized moviemaking by introducing sound in The Jazz Singer (1927). Stars and stories gave Warner Bros. its distinct identity as the studio where tough guys like Humphrey Bogart and strong women like Bette Davis kept people on the edge of their seats. Over the years, these acclaimed actors and countless others made magic on WB’s soundstages and were responsible for such diverse classics as Casablanca, A Streetcar Named Desire, A Star Is Born, Bonnie & Clyde, Malcolm X, Caddyshack, Purple Rain, and hundreds more.

It’s the studio that put noir in film with The Maltese Falcon and other classics of the genre, where the iconic Looney Tunes were unleashed on animation, and the studio that took an unpopular stance at the start of World War II by producing anti-Nazi films. Counter-culture hits like A Clockwork Orange and The Exorcist carried the studio through the 1970s and '80s. Franchise phenomena like Harry Potter, the DC universe, and more continue to shape a cinematic vision and longevity that is unparalleled in the annals of film history. These stories and more are chronicled in this comprehensive and stunning volume. 

Copyright © 2023 Warner Bros. Entertainment Inc.

Speech By Dr. Akinwumi A. Adesina, President, African Development Bank Group: Inauguration Lecture for the New President of Nigeria

Africa: Speech Delivered by Dr. Akinwumi A. Adesina - President, African Development Bank Group: Inauguration Lecture for the New President of Nigeria on 27 May 2023 at Abuja, Nigeria PRESS RELEASE

Speech Delivered by Dr. Akinwumi A. Adesina - President, African Development Bank Group: Inauguration Lecture for the New President of Nigeria on 27 May 2023 at Abuja, Nigeria

The African Development Bank was ranked last year by the Washington D.C.-based Center for Global Development as the “Best Multilateral Development Bank in the World”

ABIDJAN, Ivory Coast, May 30, 2023/ -- PROTOCOLS Your Excellencies, I wish to thank President Muhammadu Buhari for his personal invitation to me to attend the ceremonies for the swearing-in of the incoming President-elect, H.E. Bola Ahmed Tinubu. Congratulations Mr. President on Nigeria’s 7th consecutive democratic transition. Congratulations to the incoming President and Vice President. I wish to thank the Secretary to the Government of the Federation, Boss Mustapha, Chairman, and members of the Presidential Transition Council, for inviting me to speak at this inauguration lecture for the incoming President of Nigeria. It is such a great honor, to share my views and perspectives, as the nation gets ready to have a passing of the baton between H.E. President Muhammadu Buhari, and the incoming-President, H.E. Asiwaju Bola Ahmed Tinubu. It is your turn! I wish to congratulate you Mr. President for your stewardship of Nigeria for the past eight years. Thank you very much for all your strong support for me, as President of the African Development Bank Group. Without your strong support for me in 2015, and then in 2020, I would not have been President of the African Development Bank. There is a saying that “anyone that is sent on an errand must come back and report to the one who sent him or her.” Mr. President, you sent me on an errand, and I am here to give you a report. I am pleased to let you know that the African Development Bank was ranked this year by Publish What You Fund as the “Most Transparent Institution in the World.” The African Development Bank was ranked last year by the Washington D.C.-based Center for Global Development as the “Best Multilateral Development Bank in the World”. Dear Mr. President, as you leave, you can take pride that the mission for Africa is being well executed. I wish to congratulate the incoming President, H.E. Bola Ahmed Tinubu, GCFR, who will take over the mantle of stewardship of Nigeria tomorrow. I am delighted that my very dear friend and brother, President Uhuru Kenyatta, former President of Kenya was invited to deliver the inauguration lecture. He was a great leader for Kenya. I am sure he must be wondering why there are two Kenyans on the same panel. Well… I lived in Kenya for close to ten years. I remember, one day when then President Goodluck Jonathan visited Kenya and I accompanied him as a minister, as the two Presidents were introducing members of their delegations, President Jonathan said, “Meet Dr. Adesina, Minister of Agriculture”, to which President Kenyatta responded, “Yes, Adesina is the Kenyan on loan to Nigeria as Minister.” We all laughed! Thank you, President Kenyatta, for your incredibly insightful and excellent speech. Your Excellencies, The election of a new President always elicits hope. Nigeria will be looking to you, as President Tinubu, on your first day in office, with hope. Hope that you will assure security, peace, and stability. Hope that you will heal and unite a fractious nation. Hope that you will rise above party lines and forge a compelling force to move the nation forward, with inclusiveness, fairness, equity, and justice. Hope that you will drastically improve the economy. Hope that you will spark a new wave of prosperity. And hope must be brought to the present, as hope deferred makes the heart grow weary. Your Excellencies, The starting point must be macroeconomic and fiscal stability. Unless the economy is revived and fiscal challenges addressed boldly, resources to develop will not be there. No bird can fly if its wings are tied. Nigeria currently faces huge fiscal deficits, estimated at 6% of GDP. This has been due to huge federal and state government expenditures, lower receipts due to dwindling revenues from export of crude oil, vandalism of pipelines and illegal bunkering of crude oil. According to Nigeria’s Debt Management Office, Nigeria now spends 96% of its revenue servicing debt, with the debt-to-revenue ratio rising from 83.2% in 2021 to 96.3% by 2022. Some will argue that the debt to GDP ratio at 34% is still low compared to other countries in Africa, which is correct; but no one pays their debt using GDP. Debt is paid using revenue, and Nigeria’s revenues have been declining. Nigeria earns revenue now to service debt—not to grow. The place to start is to remove the inefficient fuel subsidies. Nigeria’s fuel subsidies benefit the rich, not the poor, fueling their and government’s endless fleets of cars at the expense of the poor. Estimates show that the poorest 40% of the population consume just 3% of petrol. Fuel subsidies are killing the Nigerian economy, costing Nigeria $10 billion alone in 2022. That means Nigeria is borrowing what it does not have to if it simply eliminates the subsidies and uses the resources well for its national development. Rather, support should be given to private sector refineries and modular refineries to allow for efficiency and competitiveness to drive down fuel pump prices. The newly commissioned Dangote Refinery by President Buhari—the largest single train petroleum refinery in the world, as well as its Petrochemical Complex—will revolutionize Nigeria’s economy. Congratulations to Aliko Dangote for his amazing $19 billion investment! Your Excellencies, There is an urgent need to look at the cost of governance. The cost of governance in Nigeria is way too high and should be drastically reduced to free up more resources for development. Nigeria is spending very little on development. Today, Nigeria is ranked among countries with the lowest human development index in the world, with a rank of 167 among 174 countries globally, according to the World Bank 2022 Public Expenditure Review report. To meet Nigeria’s massive infrastructure needs, according to the report, will require $3 trillion by 2050. According to the report, at the current rate, it would take Nigeria 300 years to provide its minimum level of infrastructure needed for development. All living Nigerians today, and many generations to come, will be long gone by then! We must change this. Nigeria must rely more on the private sector for infrastructure development, to reduce fiscal burdens on the government. Your Excellencies, Much can be done to raise tax revenue, as the tax-to-GDP ratio is still low. This must include improving tax collection, tax administration, moving from tax exemption to tax redemption, ensuring that multinational companies pay appropriate royalties and taxes, and that leakages in tax collection are closed. However, simply raising taxes is not enough, as many question the value of paying taxes, hence the high level of tax avoidance. Many citizens provide their own electricity, sink boreholes to get access to water, and repair roads in their towns and neighborhoods. These are essentially high implicit taxes. Nigerians therefore pay the highest ‘implicit tax rates’ in the world. Governments need to assure effective social contracts by delivering quality public services. It is not the amount collected, it is how it is spent, and what is delivered. Nations that grow better run effective governments that assure social contracts with their citizens. Your Excellencies, We must rebalance the structure and performance of the economy. A very common refrain in Nigeria, with every successive government, is “We need to diversify the economy.” But is it so? The economy of Nigeria is one of the most diversified in Africa, with the oil sector accounting for only 15% of the GDP, and 85% is in the other sectors. Nigeria’s challenge is not diversification. Nigeria’s challenge is revenue concentration. This is because the oil sector accounts for 75.4% of export revenue and 50% of all government revenue. The solution, therefore, is to unlock the bottlenecks that are hampering 85% of the economy. These include low productivity, very poor infrastructure and logistics, epileptic power supply, and inadequate access to finance for small and medium-size enterprises. Nigeria must also shift away from import substitution approach to export-focused industrialization. Nations do not thrive through import substitution; they thrive from export-bound industrialization. Your Excellencies, For faster growth, Nigeria must decisively fix the issue of power, once and for all. There is no justification for Nigeria not having enough power. The abnormal has become normal. Nigeria’s private sector is hampered by the high cost of power. Providing electricity will make Nigerian industries more competitive. And it is not brain surgery. Take two examples: Kenya and Egypt. With the support of the African Development Bank, Kenya, under President Kenyatta, was able to expand electricity access from 32% in 2013 to 75% in 2022. What an incredible achievement within 10 years! Today, 86% of Kenya’s economy is powered by renewable energy. And in one project—the Last Mile Connectivity Project—the Bank’s support allowed Kenya to connect over 2.3 million poor households to electricity—that is over 12 million people provided with affordable connection to grid power. In 2014, Egypt had electricity deficit of 6,000 megawatts, but by 2022 it had 20,000 megawatts of surplus power generation capacity. Amazing! I commend the Government of Nigeria on the recent commissioning of the several power projects. But there is still much to do. Nigeria should invest massively in renewable energy, especially solar. The African Development Bank is implementing a $25 billion Desert-to-Power program to provide electricity for 250 million people across the Sahel, including the northern parts of Nigeria. Your Excellencies, For inclusive development, Nigeria must completely revive its rural areas. Nigeria’s rural areas are forgotten and have become zones of economic misery. To revive and transform these rural economies, we must make agriculture their main source of income, a business and a wealth creating sector. To be clear, agriculture is not a development sector. Agriculture is a business. The development of Special Agro-industrial Processing Zones will transform agriculture, add value for agricultural value chains and attract private sector food and agribusinesses into rural areas. Special agro-industrial processing zones will help turn rural areas into new zones of economic prosperity and create millions of jobs. The African Development Bank, Islamic Development Bank and the International Fund for Agricultural Development are currently supporting the implementation of a $518-million Special Agro-Industrial Processing Zones’ program in 7 states and the Federal Capital Territory. We are ready to help expand this to every state in the country. We are equally ready to help revamp agricultural lending institutions to help modernize the food and agriculture sector. Your Excellencies, The best asset of Nigeria is not its natural resources; Nigeria’s best asset is its human capital. We must invest heavily in human capital to build up the skills Nigeria needs to be globally competitive, in a rapidly digitized global economy. We must build world class educational institutions, and accelerate skills development in science, technology, engineering, and mathematics, as well as in ICT and computer coding, which will shape the jobs of the future. Your Excellencies, There is an urgent need to unleash the potential of the youth. Today, over 75% of the population in Nigeria is under the age of 35. This presents a demographic advantage. But it must be turned into an economic advantage. Nigeria must create youth-based wealth. We must move away from the so-called “youth empowerment programs”. Youths do not need handouts. They need investments. The current banking systems do not and will not lend to the youth. Special funds, while palliative in approach, are not systemic and are also not sustainable. What’s needed to unleash the entrepreneurship of the youth in Nigeria are brand new financial ecosystems that understand, value, promote and provide financial instruments and platforms for nurturing business ventures of the youth at scale. The African Development Bank and partners including Agence Francaise de Developpement and the Islamic Development Bank launched the $618 million I-DICE program to develop digital and creative enterprises. They will create 6 million jobs and add $6.3 billion to Nigeria’s economy. Your Excellencies, The African Development Bank is currently working with Central Banks and countries to design and support the establishment of Youth Entrepreneurship Investment Banks. These will be new financial institutions, run by young, professional, and highly competent experts and bankers, to develop and deploy new financial products and services for businesses and ventures of young people. Several African countries plan to establish Youth Entrepreneurship Investment Banks. Nigeria should establish the Youth Entrepreneurship Investment Bank. Your Excellency, Mr. President-elect, Nigeria’s economy needs to soar! You have an opportunity to make history. History by building a resurgent Nigeria. A united and prosperous Nigeria. It is Nigeria’s turn! I wish you all the best for success. May God bless—and help you. And may God bless the Federal Republic of Nigeria. Distributed by APO Group on behalf of African Development Bank Group (AfDB). SOURCE African Development Bank Group (AfDB)

Full Text of The Inaugural Address By President Bola Ahmed Tinubu

Inaugural Address By President Bola Ahmed Tinubu

 My Fellow Citizens,

The Nigerian idea

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 idea 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.[/b]

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:

Nigeria will be impartially governed according to the constitution and the rule of law.

We shall defend the nation from terror and all forms of criminality that threaten the peace and stability of our country and our subregion.

We shall remodel our economy to bring about growth and development through job creation, food security and an end of extreme poverty.

In our administration, Women and youth will feature prominently.

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 programmefor 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.