ABUJA – The presidential candidate of the Alliance for Democracy, Dr Rafiu Salau, on Saturday pledged to create two million jobs if elected into office in next month’s election.
Salau made the pledge while unfolding his manifesto in an interview with the News Agency of Nigeria (NAN) in Abuja.
To attain such a feat, Salau said his administration would ensure more local content involvement in the exploration and sale of crude oil as well as shipment by local maritime companies.
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.’’
According to him, this strategy will create two million jobs and increase oil revenue.
Salau said the national revenue being spent on the importation of oil products and subsidy would no longer be spent on consumption, but invested 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,’’ he said. (NAN)