APC plans to unbundle NNPC, end importation of fuel

APC-Logo1The All Progressives Congress, APC, plans to untangle the Nigerian National Petroleum Corporation, NNPC, if elected into power in 2015.

It also intends to pursue a free market economy policy and devote 10 per cent of the nation’s annual budget to Education.

Foreign missions, especially those with stake in the oil industry, agriculture, the defence industry and with huge reputation in the promotion of democracy and human rights, are already scrambling for the manifesto of the party.

The party’s plans are contained in the manifesto which was made available to party leaders and elders.

APC pledged to ensure the emergence of modern modular refineries products and reduce importation of petroleum products.

The manifesto says: “APC will make the industry and Nigeria one of the world’s cutting edge degree for clean oil and gas technologies, scientific, mega structure installation drilling, progressing production engineers supported with best services and research facilities.

“Fully develop the sector’s capacity to absorb more of the nation’s new graduates in the labour market. Make the sector produce more home-grown world class engineers and scientists.

“Modernise the NNPC and make it the national energy champion. Consider breaking it up into more efficient, commercially driven unit and strip it of its regulatory powers and enable it tap into international capital market.”

APC also said it would promote economic policy of free market.

The manifesto adds: “Under current circumstances, economic illusions have literally destroyed all growth in the real sector by their failure or refusal to acknowledge that the country will inevitably collapse under the current bank rate regime.

“The APC, while supporting private enterprises and free market economy, will take every step to eradicate predatory capitalism.”

 

Information from The Nation was used in this report.

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