The president said this in his inaugural speech at Eagle Square, Abuja, on Monday.
“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,” he said.
He said he would also review complaints on multiple taxation so as to boost the economy and attract investors.
He also said his administration is targeting a Gross Domestic Profit of not less than 6% growth.