FG Moves to Ac­cel­er­ate In­dus­trial Growth, As­sures In­vestors of Sus­tained Sup­port

THISDAY - - BUSINESS WORLD - Em­manuel Ugwu, Umuahia

De­spite the va­garies of the present eco­nomic and busi­ness en­vi­ron­ment in Nige­ria, the fed­eral gov­ern­ment has as­sured in­vestors of its full com­mit­ment to en­hance in­dus­trial growth to en­able them reap max­i­mum yields in their investments.

The Min­is­ter of In­dus­try, Trade and In­vest­ment, Mr. Okechukwu Enelamah gave the firm as­sur­ance when he toured a num­ber of in­dus­trial clus­ters lo­cated at Aba, the in­dus­trial and commercial heart beat of Abia state.

The min­is­ter, whose en­tourage in­cluded the direc­tor of in­dus­trial devel­op­ment in the min­istry, Ade­wale Bakare and the man­ag­ing direc­tor of Bank of In­dus­try (BoI), Olukay­ode Pi­tan, has been on a con­fi­dence build­ing tour of in­dus­trial lo­ca­tions across the coun­try. He has so far vis­ited the South West and South East zones feel­ing the pulse of man­u­fac­tur­ers with a view to as­sist­ing them over­come the chal­lenges con­fronting them.

At the In­ner Galaxy in­du­sial Park in Ahala Ukwu vil­lage, Umua­hala Obu­zor Ukwu, Ukwa West lo­cal gov­ern­ment of Abia, Enelamah and his en­tourage were pleas­antly sur­prised at the in­dus­trial devel­op­ment tak­ing place in the Abia ru­ral com­mu­nity. He ex­pressed deep ap­pre­ci­a­tion to the Chi­nese in­vestors for their con­fi­dence in Nige­ria’s econ­omy with the es­tab­lish­ment of the high-tech man­u­fac­tur­ing and ser­vic­ing group of com­pa­nies in Abia.

Enelamah said that di­ver­si­fi­ca­tion and in­dus­tri­al­i­sa­tion re­main the main thrust of gov­ern­ment’s eco­nomic pol­icy, which also in­cludes food se­cu­rity and in­fra­struc­ture devel­op­ment across the na­tion, adding that it was im­por­tant for the South East to em­brace the eco­nomic pol­icy of gov­ern­ment.

Ac­cord­ing to him, with the pre­vail­ing eco­nomic pol­icy, the present gov­ern­ment has fur­ther demon­strated its com­mit­ment to be “a good part­ner, good reg­u­la­tor (of the busi­ness en­vi­ron­ment) as well as be­ing a good gov­ern­ment to the peo­ple of Nige­ria.

He said that the pres­ence of In­ner Galaxy Group in Abia and the suc­cess story it has started post­ing has fur­ther re­in­forced the com­mit­ment of the fed­eral gov­ern­ment to work with the states for the re­al­i­sa­tion of the na­tion’s in­dus­tri­al­i­sa­tion agenda.

“This is a sea­son of co­op­er­a­tion and part­ner­ship,” he said, adding, ev­ery in­cen­tive needed to build the con­fi­dence of in­vestors would be pro­vided, including tax in­cen­tives and re­mov­ing of ob­sta­cle hin­der­ing the ease of do­ing busi­ness in Nige­ria.

Al­lud­ing to the ac­tion of Bi­afra ag­i­ta­tors, who dis­rupted his sched­uled in­ter­ac­tion with the mem­bers of Pow­er­line Shoe Man­u­fac­tur­ers As­so­ci­a­tion of Nige­ria (PSMAN), the min­is­ter noted that it has fur­ther un­der­lined the ur­gent need for rapid in­dus­tri­al­i­sa­tion of the South East zone.

He said that with the pres­ence of many in­dus­tries in the zone, a huge pop­u­la­tion of youths would be “sucked up” by the at­ten­dant em­ploy­ment op­por­tu­ni­ties and if the youths were fully en­gaged the ris­ing tide of ag­i­ta­tion in the zone would sub­side.

In his ad­dress the Group Man­ag­ing Direc­tor of In­ner Galaxy Group. Mr. Andy Lu, lauded the min­is­ter for his sup­port and en­cour­age­ment, adding that the ease of do­ing busi­ness has be­come less cum­ber­some.

He said that the In­ner Galaxy in­dus­trial com­plex which presently com­prises five com­pa­nies al­ready has 3,000 Nige­ri­ans in its em­ploy­ment while thou­sands more job op­por­tu­ni­ties would be cre­ated as 15 other com­pa­nies would come on stream in due course.

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