The Senior Special Assistant to the President on Niger-Delta Affairs, Senator Eta Enang said the federal government will reintegrate modular refineries into the mainstream refineries for the benefit of the country.
Enang disclosed this in Abuja when he paid a working visit to the Minister of Science and Technology Dr Ogbonnaya Onu in his office, a statement from the ministry said on Monday.
According to him, Nigeria cannot longer afford to pay subsidies on petroleum importation, hence the need to look inward.
“Refining of crude oil has to be done locally to reduce foreign exchange and import duties”, he said.
Responding to Enang, Onu said Nigeria’s Gross Domestic Product (GDP) would further be increased through the application of Science, Technology and Innovation to the natural resources and products abundant in the nation.
He said the ministry has enunciated policies like the Executive Order 05, which is centered on giving preference to Nigerian companies and firms in the award of contracts.
The policy placed a premium on the use of indigenous professionals and firms in the design and execution of projects involving national security.
In the same vein, he added that the National Strategy for Competitiveness in Raw Materials and Products Development in Nigeria, was designed to provide a permanent strategic framework to help the country overcome the burden of a mono-product economy.