Vice President Goodluck Jonathan says new licences will be given to investors willing to set up refineries in Nigeria. Jonathan told a delegation of the Manufacturers Association of Nigeria (MAN) led by its president, Alhaji Bashir Borodo, that "committed business people" would be encouraged to set up refineries. "As a country we don't need to export products, including oil without adding value to it,'' the Vice President said.

He assured the manufacturers that the country would stop the importation of fuel as soon as its policy on the industry came into effect. Jonathan said government would also come up with a clear policy to tackle the problems of multiple taxation, which he said, had made local products expensive and uncompetitive.

He restated the resolve of the government to tackle the issues of energy, security and smuggling to enhance the capacity of the nation's manufacturing sector and boost the economy. Jonathan commended MAN for initiating some independent power projects, which he said would complement government's efforts at resuscitating the energy sector.