FG to stop importation of refined petroleum products by 2018

Minister of Science and Technology, Dr. Ogbonnaya Onu, has said the Federal Government will ban the importation of refined petroleum products by 2018.

Onu said this in his country home Uburu, Ohaozara Local Government Area of Ebonyi State while addressing a meeting of stakeholders of the ruling All Progressive Congress.

He noted that since her independence in 1960, Nigeria has relied on one commodity and subsequently relegated its revenue base.

“Even now, Nigeria exports crude oil and imports petroleum products. When your economy is based on commodity, you cannot determine the price,” he said.

The minister informed that the Ministry of Science and Technology was working hard to ensure that Nigeria changes from “resource-based economy to multi-faceted one;” adding, “India that has no oil has a refinery of 1.2 million barrel crude oil capacity.”

The highlight of the occasion was the peace initiative that brought both factional Ebonyi State chairmen of the party, Chief Ben Nwobashi and Pastor Eze Nwachukwu Eze together.

The meeting had in attendance notable stakeholders, including the national coordinator, Buhari/Osinbajo Initiative for Demonstrating Change, Comrade Chinedu Ogah; senators Emmanuel Agboti and Chris Nwankwo, and some former commissioners in the last administration, among others.

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