BOOT Party Gov Candidate Promises to Return Lagos Wealth Back to True Owners

Wale Igbintade

The Lagos State governorship candidate of BOOT Party, Mr. Olawale Oluwo, has vowed to reset the state on a new trajectory of security, and return the wealth of the state to the true owners (the people of Lagos).

Addressing journalists yesterday in Lagos at the opening of his campaign office, and the inauguration of BOOT Party Solutions Series, Oluwo promised to re-establish status of Lagos as reference point for free democratic practice.

The party, which means ‘Because Of Our Tomorrow (BOOT), was registered in 2019, and is the youngest political party in Nigeria.

According to Oluwo, if elected, his government will intensify industrialisation drive leveraging on energy and infrastructure, adding that transparency, progressivism, and protection of minority rights would be given adequate attention.

“Ours will be an effective reform-minded administration that will emphasise on security, energy, transportation, sustainable financing/empowerment, creative economy, entertainment, sports and technology, land reform, smart city and physical and social infrastructure of the environment.”

Speaking on the newly restructured Nigerian National Petroleum Company (NNPC) Limited, Oluwo alleged that the company has not remitted a dime into the Federation Account since becoming a limited liability, adding that Nigerians may have to wait for the next 17 months before any revenue could be realised.

He said: “NNPC Limited has been remitting zero dollars into the Federation Account since becoming a limited liability company. Sadly, the zero dollars remittance by NNPCL is not about to end anytime soon.

“Notwithstanding the change of NNPC’s status from a government corporation (a revenue collection and remitting agency) to a limited liability company (a profit focused commercial entity), NNPC Limited still retains the monopoly of petroleum products importation into Nigeria and continues to solely operate the petroleum subsidy scheme. Involvement in these non-commercial activities will never make NNPC Limited commercially viable and competitive.

“Also, running the new NNPC Limited with the same public sector model and entire personnel of the defunct NNPC shows that nothing has changed. It is therefore possible that this new NNPC Limited may not make profits anytime soon, thereby making expected dividend remittances into the Federation Account highly speculative.”