The All Progressives Congress presidential candidate, Bola Tinubu, has disclosed that his administration will phase out fuel subsidies, improve security architecture,stabilise the economyand carryou police reforms if elected into office as President at next year’s elections.
Aside from phasing out fuel subsidies, he promised to accelerate the full implementation of the Petroleum Industry Act, and implement additional favourable policies to attract investment in Deepwater assets within 6 months.
According to him, I will ensure the stability of petroleum product supply by fully deregulating the downstream sector and ensuring that local refinery capacity will meet domestic consumption needs.
He said, “We shall phase out the fuel subsidy yet maintain the underlying social contract between government and the people. We do this by dedicating the money that would have been used on the subsidy to fund targeted infrastructural, agricultural and social welfare programs ranging from road construction to boreholes, public transportation subsidies, and education and healthcare funding programs. In this way, the funds are more directly and better utilised to address urgent social and economic needs.
“Our planned approach will not only mitigate the price effects of deregulation but will also result in the significant expansion of public infrastructure and improvement of public well-being.
“Subsidy removal and deregulation are, however, only part of the solution. To further increase our refining capacity, we shall focus on the rehabilitation of the nation’s refineries and shall consider, as a model, the joint venture partnership arrangements implemented by other leading oil-producing states and global petrochemical firms.”
He added, “We will hasten the implementation of the Petroleum Industry Act and implement favourable policies to stimulate investment in the deep-water assets such as encouraging negotiations regarding signature bonus payment and/or deferral of the payment post development, royalty reliefs amongst others.”
He said he would free police officers from being security or orderlies for Very Important Personality, adding that police personnel on such duties would be replaced by the Nigeria Security and Civil Defence Corps officers.
This was contained in the manifesto exclusively obtained by The PUNCH on Friday,
On police reform, Tinubu said, “We shall boost the public confidence in the Nigeria Police Force and other internal security agencies by increasing recruitment and providing high-tech, non-lethal equipment with corresponding manpower development schemes.
“Police reform will be focused on positioning the institution to better deliver on its primary duties of community policing and maintaining law and order through crime fighting and prevention.
“Police personnel will be freed from extraneous duties such as VIP security and guard duties. VIP Security and provision of security for government buildings, installations and other critical assets will be transferred to The Nigeria Security and Civil Defence Corps. The NSCDC shall be evaluated and reformed to be better integrated with our internal security apparatus.”
