This lie has been debunked, but I cant blame you for posting this thread. After all, you got your story from a respected mediawhore, FOX News, who in turn got their information from another mediawhore known as AP.
The true story is that the opposition, unable to strengthen their position honestly, threatened to pull out of the democratic process in Venezuela unless Chavez made some concessions to them. Chavez made every concession asked for, and the opposition went back on their word and pulled out anyways.
Chavez did not say he wanted a 25 year term. He merely stated that, if the opposition were to pull out, he would end term limits. There still would be an election every 6 years for the next 25 years, and he would run each term. This was an inducement to get the opposition back into the process. But dishonestly knows no bounds. Since the opposition cannot win a majority honestly in government due to their unpopularity, they pulled out of the process, then attempt to brand Chavez as a dictator.
I will say the magic word once more -
Mediawhores.
Article is here.