The presidential flag-bearer of the Labour Party for the 2023 election, Peter Obi, has said that unlike his counterpart on the platform of the Peoples Democratic Party (PDP), Atiku Abubakar, he does not have the intention of selling the Nigerian National Petroleum Corporation (NNPC) Limited.
POLITICS NIGERIA reports that speaking with journalists before a recent campaign rally, Obi, a former Anambra State governor, said excessive dependence on oil is failing Nigeria.
“We have a problem because we are dependent on oil,” the Labour Party candidate said.
“Oil is a diminishing asset that’s not giving anybody, anything. Oil contributes less than 10 percent of our Gross Domestic Product, GDP, but it contributes about 50 percent of federal government revenue which should not be. If we are a productive country, we can earn more money from other areas apart from oil.”
Obi added: “If I become president, within the few years I will devote the money from oil in trying to ensure that we clean up, and be able to develop Niger Delta for what they have suffered. Then resources from other places will be used to develop the areas.
“I am a champion of fiscal federalism so that people can become productive.
“So, I am not going to sell the NNPC, it is the least of my problems.
“My problem is to create a future and allow the country to work again.
“NNPC is not even producing anything today, it is not making any profit, it is not contributing anything today.”
