The All Progressive Congress (APC), has said that if given a chance at the central government, it will grow Nigeria’s daily crude oil production to 4 million barrels per day (mbpd) by 2019.

The party stated this at a town hall meeting organised by the Centre for Democracy and Development (CDD) to discuss the policy documents of two leading political parties in the forthcoming general elections, the Peoples Democratic Party (PDP and APC).

The APC by its plan, promised to grow Nigeria’s crude oil production from the current average of 2.2mbpd to 4mbpd within four years.
It additionally said that it would grow Nigeria’s revenue from crude oil production to $50 billion from its current level and in the process, completely eliminate gas flaring within two years, which is by 2017.

The Publicity Secretary of APC, Alhaji Lai Mohammed in a lengthy presentation at the town hall meeting which was also meant to set an adoptable agenda for the development of Nigeria’s petroleum industry, explained that if the APC was elected, it would also augment gas supply to Nigeria’s power sector by 500 million standard cubic feet per day (mscuf) by 2019, about double of what the country’s power sector gets from the domestic gas supply agenda of the federal government.

“We will increase government revenue from its current $30 billion per annum to $50 billion per annum within four years through a proactive measure without losing the attractiveness of the sector,” Mohammed said in reeling out the plans of the party for the sector.

He noted that an APC led federal government would also open up the sector to ensure accountability both within the Nigerian National Petroleum Corporation (NNPC) and all other government agencies in the sector, adding that with considerable look on the recommendation of the Oil and Gas Industry Committee (OGIC) 2001, upon which the PDP led federal government was planning its reform of the country’s petroleum sector, it would push for greater reform in the sector.

Within such reform and with regards to the Petroleum Industry Bill (PIB) which has remained in limbo for long now, Mohammed noted that APC would split the PIB into parts to make it easier for passage, adding that the PIB as currently constituted was complex.
He said: “PIB as it is, is currently complex. We will split the PIB into separate parts and submit them to the National Assembly to pass into law.”

He explained that investments in the country's upstream and marginal oil fields would be pursued by the APC, with regards to redefining the Production Sharing Contract (PSC) regime as currently observed.

APC, he said, would ensure that the government negotiated viable and profitable PSC arrangements with interested operators and at the same time, ensure that the financial burden of developing acreages was shifted from the government to private operators.

But the PDP, which was represented by one of its officials at the town hall meeting, Dr. Katchy Onunuju, said that it won't spend time repeating what the APC chieftain said as the party was only trying to reinvent most of what it was already doing in the country’s petroleum sector.

Onunuju picked holes at APC's plan for the entire petroleum sector, saying that the party's preference for foreign investors in the sector as against PDP's embrace of local investors was against the interests of Nigerians.

He said: “APC is rephrasing what we are already doing. Crude oil presently constitutes just about 15 per cent of our Gross Domestic Product and what we have done is to expand it to allow it work for all Nigerians.

“We attempted to deregulate the downstream sector to allow Nigerians benefit from its attendant opportunities but the opposition galvanised Nigerians against us, and in partnership with people that were benefiting from the ugly subsidy attempted to shut down the country.

“As stated by my brother, Mohammed in his position paper, APC wants to bring in private foreign investors to mine our oil and gas; we are saying, no, we want our people to mine and make use of the oil and gas that we have for our benefits.

“Why engage foreigners to do what our people can do. It is always a win-win when Nigerians are in charge of our oil and gas industry and that is what we are doing now. Let me tell you the truth that APC don't know; the Nigerian Civil War was not fought just for the unity of Nigeria but to gain access to the oil and gas resources and it is the same thing now with this election because we have said, no way, Nigerians should take ownership of their resources.”

http://www.thisdaylive.com/articles/apc-pledges-to-grow-oil-production-to-4mbpd-revenue-to-50bn-by-2019/201199

989900:


Mo' .

Eventually, it will happen, but we have so much to contend with, and regularize at this hour . . . it should be a gradual process IMO.

GenBuhari:
It is like asking a man whose house is burning down to rearrange the furniture in his house. He would have more pressing priorities than rearranging furniture at that time.

modath:



Gen B , Please expatiate , I'm ready to learn.....Thx.



P.S.. Could the burning house be as a result of arson?

Thewrath:
Then Nigeria will be forced to reset to default by the avengers.

mrvitalis:
Economy is in shambles, States can't even pay salaries, naira is lossing value and all some people are thinking is to restructure to make them have access to more found

Am not against restructuring, if we want a confab then it should be more of a referendum

Let's get our economy back on track then we will talk

Vulu:


By October, God willing, there will be no economy to talk about. Insha Allahu!

We know you abookies are strong-headed and stubborn but NDA are ready to go ALL THE WAY! PREPARE!

bejeiodus:
It is dishearten to note that many of the crusaders for the restructuring of Nigeria are members of the APC. Where is Tinubu? Where is Osoba? Where is Fayemi Where is Lai Mohammed and other advocates of true federalism? They trumpeted the need to give more autonomy to the constituent parts of Nigeria but now their voices have become inaudible after a taste of the national cake.
This shows how inconsistent they are in their beliefs. They merely pandered to populist views to get into office.

We, Yoruba, have been at the forefront of calls to address the dysfunctional challenge of our pseudo-federalist structure, now that we are part of the government at the centre, isn't it the best opportunity to put what we have ached for into practice?

mrvitalis:
Ur case is strong Am igbo nigga

GenBuhari:
Madam, I hope you not mocking me oo!

Nonetheless I clarify.

Nigeria is like a house on fire with the so called ND militant attacks, Boko Haram, decline in revenue etc and the goverment is the man whose house is burning down.
He is going to be too busy fighting the fire; being advised to rearrange his furniture is equivalent to calls for the restructuring of Nigeria, so obviously fighting the house fire would be his priority and not rearranging the furniture.

Thats it.

QuotaSystem:
Restructure your minds from ethno religious bias and you will find out the present structure as designed and instituted by Easterner Aguiyi Ironsi is still intact.

If you want to be better represented in the centre, build bridges and make alliances instead of trying to restructure the country with bombs. You'll fail.

God bless Nigeria.

modath:


Nope GenB, I wasn't mocking, hence i threw in the arson angle...

Methink the house is on fire because the house owners warring wards would prefer the house be portioned as seperate rooms in the house and only share a veranda than having to stay in one Hall like no privacy, echoing space..

The fire isn't an accident, it's Arson and one or the other of his dependants will always find a way to pour accelerant after setting fire... it's a vicious cycle and I'm so tired!!

QuotaSystem:
Restructure your minds from ethno religious bias and you will find out the present structure as designed and instituted by Easterner Aguiyi Ironsi is still intact.

If you want to be better represented in the centre, build bridges and make alliances instead of trying to restructure the country with bombs. You'll fail.

God bless Nigeria.

QuotaSystem:
Restructure your minds from ethno religious bias and you will find out the present structure as designed and instituted by Easterner Aguiyi Ironsi is still intact.

If you want to be better represented in the centre, build bridges and make alliances instead of trying to restructure the country with bombs. You'll fail.

God bless Nigeria.

yungpowers:
Former Vice-President Atiku Abubakar had, on Tuesday, advocated the restructuring of the country to ensure the development and growth of the federating units.
“Agitations by many right-thinking Nigerians call for a restructuring and a renewal of our federation to make it less centralised, less suffocating and less dictatorial in the affairs of our country’s constituent units and localities,” the former vice-president had said at a book presentation, “We are all Biafrans”, in Abuja.
A Northerner is being reasonable for once.
On the other hand, all we need is Biafra.

modath:




Tick says the clock, my bros ..there is and will never be a good time, something will always be in the way my bros.... Making it a clean cut will be super...Oro ilu yi ti gba ka so ooto ki Olorun ma ba gba wa loju..

QuotaSystem:
Restructure your minds from ethno religious bias and you will find out the present structure as designed and instituted by Easterner Aguiyi Ironsi is still intact.

If you want to be better represented in the centre, build bridges and make alliances instead of trying to restructure the country with bombs. You'll fail.

God bless Nigeria.

GenBuhari:
It is like asking a man whose house is burning down to rearrange the furniture in his house. He would have more pressing priorities than rearranging furniture at that time.

9ja4live:
The current structure will and cannot hold. People's eyes Don dey open say all these while we just dey together to serve interest of Northern Nigeria. They contribute the least to the whole and take away the most of the whole. Let's face it. If we were practicing true fiscal federalism, there is no way book haram would have succeeded. This is because the maiguduri elder would have shut it down not even the northern elders. But they knew the game was at the center and their elders and the larger north supported them in every manner. Now Atiku is investing heavily in Adamawa and a such the security of the state is very important to him. If all people invest heavily in their location, they will all their power to checkmate in security in that location.

Talk about curruption, which is easier, people of state demanding accountability from their leaders or from the president. At the center, ethnic and religious sentiment will affect every genuine effort to stamp out corruption.

We will be cowards not the sit down and face the restructuring of these country now. The population is increasing, people are becoming more aware of the gursome injustice parked in our constitution and there is a need to integrate fairness , equity and justice for this society to remain an entity. The adsence of these Nigeria is Zooooo that the animals are getting wide without control and it will fall apart without control soon.

Lastly how many people have to die for us to remain a country. That shows that something is very wrong with the current structure.

GenBuhari:
It is like asking a man whose house is burning down to rearrange the furniture in his house. He would have more pressing priorities than rearranging furniture at that time.

Why the foul language? Is something wrong with you or do you just lack manners? Just imagine the silly questions you're asking.

Don't you ever mention me again to display your indiscretion. What rubbish

Izonpikin:
[s]shut
up...We have to restructure the system to end quota system... ...

Nonsense...see him mouth...have you restructured your own biased mind. ..just open mouth dey talk...[/s]

QuotaSystem:
Why the foul language? Is something wrong with you or do you just lack manners? Just imagine the silly questions you're asking.

Don't you ever mention me again to display your indiscretion. What rubbish