The federal government hopes to put a stop to the importation of petroleum products into the country by 2018.
According to the Minister of Industry, Trade and Investment, Dr. Olusegun Aganga, the Nigeria Industrial Revolution Plan (NIRP) launched by President Goodluck Jonathan, will usher in a new era devoid of the importation of petrochemical products which currently costs the nation about $10 billion yearly.
The minister said: “The message of this administration is very clear. We can no longer be a country that is import dependent especially on product we can produce in this country.”
“There are many sectors we should have developed as a country but we relied for decades on exporting raw materials which is oil. That era is gone and this is why the president launched the Nigeria Industrial Revolution Plan (NIRP) in 2012.”
Furthermore, Aganga stated that President Jonathan is the solution for the decades-long problem of unnecessary importation.
He added: “If the investment goes according to plan, by 2018, we will no longer import petroleum products into the country and that will save us a minimum of about $10 billion, we spend about $3 billion importing steel, we spend about $6 billion importing cars and spare parts and also spend about.$1.7 billion importing sugar where we can grow sugar cane to get sugar. Jonathan is actually the solution to the debacle we have had for decades and the idea is a matter of time to let him get the plan completed.”