He succeeds Dame Marguerite Pindling, who demitted office earlier today after serving for just under five years.
In his inaugural speech, Smith pledged to discharge his constitutional duties with impartiality.
“I dedicate myself to helping to promote and renew a greater national commitment to community service and volunteerism,” Smith said.
“In keeping with the fine example of my distinguished predecessors, I pledge to promote national unity.”
Smith said as the nation approaches its 50th year of independence, Bahamians should celebrate their accomplishments.
“We should also take stock of the road we must still tread to better promote the values of inclusiveness, civility, fairness and national harmony,” he added.
“Let us also pledge to renew bedrock values such as altruism, empathy and generosity of spirit, which are necessary in fostering one Bahamas.
“These values which propelled our fore parents to fight against discrimination and for a more equitable and just society must be renewed through the practice of volunteerism and public and community service.”
He said this spirit should be reflected in all sectors of society.
Following the ceremony, Smith inspected the guard.
Smith is a founding member of the Free National Movement and a former member of Parliament and Cabinet minister.
Education: Benedict College, BA in Mass Communications