As part of the deregulation of the downstream oil and gas sector, the Federal Government has decided to set a time frame for the privatization of the Nigerian National Petroleum Corporation and the refineries before the end of 2016.
Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, said the government would set a deadline for the country to be self-sufficient in refined petroleum products and become a net exporter of same.
Dipeolu was speaking at the Nigeria-South Africa Chamber of Commerce breakfast meeting held in Lagos, Dipeolu said the importance of value addition to crude oil before exportation.
The Special Adviser said, “We need to pay attention to goods being manufactured here and improve the manufacturing capacity of Nigerian companies.
“The first step to industrialisation of Nigeria has to be agro-allied so that the raw materials will be available for the manufacturers.”
On expectations for the agricultural sector, Dipeolu said government’s focus this year was to achieve sustainability in tomato paste production, adding that rice sufficiency would be the next in 2017.
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