The event, currently underway, is being attended by several world leaders, foreign diplomats, former and present Nigerian leaders, top military officers, politicians and traditional and religious rulers.

On Thursday, up to 10 African leaders, including South Africa’s Jacob Zuma, arrived in Nigeria for the event.

U.S. Secretary of State John Kerry as well as representatives of countries like Britain, Turkey, Saudi Arabia and the United Arab Emirates are also at the historic event, which was the first time a sitting civilian president is handing over to another civilian leader.

Buhari, the candidate of the All Progressive Congress, has defeated Goodluck Jonathan of the People’s Democratic Party in the March 28 presidential election.

Nigeria’s army brigade band, decked in different ceremonial uniforms including the green-white-green national color, is leading the pre-inauguration parades as the ceremony gets underway.

Dance troupes from across different cultures and prominent hip hop musicians take turns to entertain the guests as Jonathan and Buhari and other creme de la creme of Nigerian society are awaited at the venue.

Thousands of security operatives from different agencies are providing watertight security at the event, with police and military helicopters hovering in the sky for surveillance.

Buhari, 72, is expected to hit the ground running, confronted with an urgent duty to fix an economy in distress, defeat the now struggling Boko Haram militants in the northeast as well as run a transparent government and tackle official corruption that analysts say has become a culture.

Analysts expect Buhari to fix the glitches and deep-rooted sharp practices in the oil sector and end the perennial fuel scarcity that often cripple the economy.

Nigeria is Africa’s top energy producer but the oil wealth has not reflected in the living standard of the citizens.