By Cross Udo, Abuja
Ahead of the 2027 presidential election, Mica Equity Allocation Limited has promised to mobilise 12 million votes for President Bola Tinubu if his administration agrees to three demands centred on wider public participation in Nigeria’s extractive industries.
Michael Akueche, founder of Mica Equity Allocation that promotes indigenous ownership of oil and gas as well as solid mineral resources, while briefing journalists in Abuja on Monday, assured that mobilising over 12 million votes for the President would not be difficult if he grants their three demands.
Akueche, who is the convener of the forthcoming Nigerian Local Content Conference, NLCC, and Africa Commodities Conference and Exhibition, ACCE, with the theme: “Social Justice and Economic Posterity for All,” noted that Nigeria has tremendous wealth, but it is under the control of a few, while the greater population wallows in poverty.
Akueche said the projected votes would come from youths, cooperatives and Nigerians expected to benefit from the proposed reforms.
According to him, “We will get 12 million votes for President Bola Tinubu in the 2027 presidential elections if he can accede to our three major demands.”
Quoting the National Bureau of Statistics, Akueche said that 63 per cent of Nigerians are living in multidimensional poverty, estimated at 133 million Nigerians.
“Incorporation of larger numbers of the Nigerian people in the ownership of oil and gas assets will culminate in mitigating this widespread extreme and abject poverty among the Nigerian population.
“Seeding of 20% equity allocation to the larger population of the Nigerian population per state in every bid that would participate in the 50 oil block licensing rounds will be a welcome development.
“Mica Equity Allocation therefore seeks to organise the Nigerian people, households, youth and women state by state, set them up as platforms/structures/limited liability companies, and/or cooperatives and get them organised to partake in the 20% equity allocation with the companies bidding for the aforementioned oil blocs.”
Akueche further said the estimated support would come from “2.5 million from youth, three million from cooperatives in solid minerals and seven million from the people over 20% equity.”
He argued that broader ownership of strategic national assets would help tackle poverty, create jobs and deepen indigenous participation in key sectors of the economy.
He said allocating 20 per cent equity to Nigerians in bids for the 50 oil blocks would be a major step towards inclusive economic growth.
Akueche also called for communities in the South-South, Niger Delta and other oil-producing areas to be better integrated into the ownership structure of oil and gas assets.
“One of the major reasons for agitation in the said region/oil and gas producing states communities is the technical sidelining of their people in the business and ownership of oil and gas assets,” he said.
He added that organising host communities into cooperatives and investment platforms would promote peace and reduce tensions in producing areas.
“This will incorporate over a million people in the region in a corporate business environment; it will assuage the anger of the youths, host communities, agitators and engender peaceful coexistence between the multinational companies and the indigenous people as they would be part owners of the assets,” he said.
Akueche commended the reduction in signature bonus requirements for oil block bids, saying lower entry barriers would help indigenous investors compete more effectively.
“This lower entry barrier will enable indigenous players to compete with the multinational giants in scrambling for the assets,” he added.
