‘I won’t appropriate oil money as budget if elected president’

Presidential candidate of Social Democratic Party (SDP), Prince Adewole Adebayo, has promised not to share oil money or appropriate it as budget if elected as President.

To him, the cash would be domiciled in a sovereign fund to “build hospitals all over the place.”

He said: “I am not going to mainstream oil money into my budget. The present generation has spent enough of oil money, we need to keep for the future.”

Adebayo, in a statement, said Nigeria’s over-dependence on oil was due to ingenuity of political leaders, stressing that petroleum, during his reign as President, especially his first year, would be in the withdrawal zone.

He insisted that the nation’s commonwealth had been shrouded in mystery.

Stating that he is not excited about the new Nigeria National Petroleum Company (NNPC) Limited, the presidential hopeful observed that the “change of name without change of mind would not lead to any result.”