AD Presidential Candidate promises to Increase Oil Revenue and Create 2 Million Jobs if Elected
The presidential candidate of the Alliance for Democracy, Dr Rafiu Salau, has promised to create two million job opportunities if elected into office in February.
Salau, who was speaking while unfolding his manifesto in Abuja, said his administration would encourage local investors by involving more of them in the exploration, sale and shipment of crude oil.
He said: “First, a minimum of 70 per cent of the exploration of the crude oil in the nation must be done by local companies. Whatever the profit made by local companies will be invested in the economy of the nation. This will go a long way in increasing the revenue that will be generated in the industry.
“Secondly, at least 70 per cent of the shipment of the crude oil shall be assigned to local maritime companies.
“Thirdly, 100 per cent of the oil products used locally shall be refined by local refineries, meaning 50 per cent of refined products will be enough for local consumption while 50 per cent will be for exportation to countries without oil or refineries.”
Salau said this will not only create two million jobs and increase oil revenue, but it will also reduce the national revenue being spent on the importation of oil products and allow investment of subsidy on capital goods.
“This will generate more national revenue for decades while the increase in national revenue from the investment of the crude oil income will take the nation to the path of G20.
“Nigeria will have 200 billion dollars in foreign reserve before the end of my term in office.”
