Mr Buhari is the first opposition figure to win a presidential election in Nigeria's 55 years of independence.
He takes over from Goodluck Jonathan, who has urged his successor to unite the country in the face of the threat from Boko Haram militants.
Mr Buhari, a former military ruler, says he is a convert to democracy.
He defeated Mr Jonathan - who had been in office since 2010 - by 15.4 million votes to 12.9 million.
Boko Haram, an Islamic group based in north-eastern Nigeria, has caused havoc through a wave of bombings, assassinations and abductions in recent years.
Besides tackling the militants, Mr Buhari has promised to stamp out corruption. Correspondents say he also faces serious economic problems, with falling oil prices slashing state revenues.
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