Nigerian oil billionaire Tein Jack-Rich declares interest in presidency

Tein Jack-Rich, a Nigerian billionaire oil magnate, has officially declared his presidential candidacy on the platform of Nigeria’s ruling party, the APC.

Jack-Rich, who is the founder of Belemaoil Producing Limited, one of Nigeria’s leading indigenous oil exploration companies, made the announcement at a press conference in Abuja on Friday.

Jack-Rich stated that if elected president, his administration would not take any foreign loans during his term. He also promised to create 26,000 jobs in each of Nigeria’s 774 local governments on his first day in office.

Vice President Yemi Osinbajo, former Lagos Governor Bola Tinubu, outgoing Transport Minister Rotimi Amaechi, and Kogi Governor Yahaya Bello are among the candidatesJack-Rich will face for the APC nomination.

“I will not take a single loan throughout my presidency. We will produce what we will consume. God has given us all we need to consume,” the oil tycoon said.

The businessman also outline how his approach will differ from that of President Muhammadu Buhari, if elected.

“I will fly to Zamfara, Kano, Kaduna and every part of the country if we have issues,” he said. “I will fly there. I will not send anybody if they have issues, I will fly there.”

Many Nigerians have chastised Buhari for rarely expressing empathy for victims of violence and instability in the country. Apart from failing to visit many of the affected communities and victims of the violence, the president rarely speaks directly about the killings, instead relying on statements from his spokespeople.

Jack-Rich also promised to create millions of jobs if elected.

“I will create smart jobs and will develop the oil and gas industry and optimize the oil and gas in the country,” he said. “My presidency will strengthen our value system. I will create 26,000 jobs in each LGA on my first day in office and the opportunity, if it materializes, will see about 20,124,000 created on my first day in office.”

However, he did not provide a blueprint as to how the 20 million jobs would be created.

Jack-Rich has already named Isa Yuguda, a former governor of Bauchi State, as the chairman of his campaign organization.

Jack-Rich, 47, is the founder of Belemaoil Producing Limited, one of Nigeria’s leading indigenous oil exploration and production companies. He attended Panola College Cartage in the United States and studied petroleum production technology, business administration, and business management at Usam University.