The former vice president, who came second in last year's presidential election, also said he would have privatised the four state-owned refineries.
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We would have been guided by my robust reform agenda as encapsulated in ‘My Covenant With Nigerians’, my policy document that sought to, among others, protect our fragile economy against much deeper crisis by preventing business collapse; our document had spelt out policies that were consistent and coherent.
We would have consulted more with all stakeholders to learn, negotiate, adapt, and modify, among other policy goals.We would have been more strategic in the design and implementation of reform fallout mitigating measures. I would not run a ‘palliative economy’ yet, we would have a robust social protection programme that will offer genuine support to the poor and vulnerable and provide immediate comfort and security to enable them to navigate the stormy seas.
To underscore our commitment to the development of infrastructure, an Infrastructure Development Unit directly under the President’s watch would have come into operation. The IDU will have a coordinating function and a specific mandate of working with the MDAs to fast track the implementation of the infrastructure reform agenda within the framework provided herein.
Second, paying particular attention to Nigeria’s poor refining infrastructure. We are by far the most inefficient OPEC member country in terms of both the percentage of installed refining capacity that works and the percentage of crude refined. We would’ve commenced the privatization of all state-owned refineries and ensure that Nigeria starts to refine at least 50 per cent of its current crude oil output. Nigeria should aspire to export 50 per cent of that capacity to ECOWAS member states.
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