Peter Obi: Nigerian President wants to create a new source of income to replace oil revenues

Watch: Nigerian presidential candidate Peter Obi on his plans to transform Nigeria’s economy

Nigerian presidential aspirant and economic development advisor, Peter Obi has stated that he wants to transform Nigeria’s economy towards a market-based system.

Speaking to Ojo Koladee on NewsOne News, Obi said: “Right from the beginning we put our country on the right road. When we said Nigeria as a nation has three challenges, what we promised to Nigerians was to be united.

“So, we said if we join hands and build the nation we are going to solve these challenges as a nation, and that was what we did. And we did that,” he said.

According to Obi, the reason for the creation of the National Pension Commission in 2011 was to create job opportunities.

He revealed that the NNPC had identified the need for a new source of income to replace oil revenues.

“Because the revenue from the oil revenue is the only source of income. And it’s just not enough. And there’s a lot of challenges. The biggest issue is the inability to generate new sources of revenue which is why we wanted to create a source of income which will be revenue-neutral,” he said.

He said that the source of income he had intended to create would be from the private sector in general and the foreign investors on the other hand.

“But it’s not just the private sector. It’s the foreign investment too. So, we wanted a source of income which will replace oil revenues,” he said.

Commenting further on what he had planned to address in today’s speech, the economist said that he wanted to put to people what needed to be done to create the conditions for an economic growth.

“We wanted to ensure that we can get a level playing field,” he said and added that he wanted to do so by ensuring that “every body in this country knows what the challenges are and that they have to be addressed”.

He said: “So, when a country is not able

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