Buhari charges in­vestors on lo­cal con­tent

Weekly Trust - - News | Businessxtra - Ab­bas Ji­moh

Pres­i­dent Muham­madu Buhari has task lo­cal and international in­vestors to em­brace the lo­cal con­tent pol­icy in or­der to pro­mote Made-in­Nige­ria goods, stem cap­i­tal flight and con­serve for­eign ex­change.

The Pres­i­dent gave the charge yes­ter­day in Abuja at the opening cer­e­mony of No­vare Gate­way Mall (Sho­prite).

Buhari who was rep­re­sented by the FCT min­is­ter, Mal­lam Muh­m­mad Bello ex­pressed hope that the com­plex, lo­cated along air­port road, would boost tourism, cre­ate jobs and pro­vide re­fresh­ing shop­ping space for res­i­dents and visi­tors alike.

“Permit me to re­it­er­ate my call on the man­age­ment, last year, to em­brace the lo­cal con­tent pol­icy of the present ad­min­is­tra­tion de­signed to pro­mote Made-in­Nige­ria goods, stem cap­i­tal flight and con­serve the most needed for­eign ex­change. Nige­ria can­not af­ford to con­tinue as a dump­ing ground for for­eign goods es­pe­cially of such prod­ucts where it has been abun­dantly blessed,” he said.

The chair­man of the Mall, Abuja Prof Fabian Ajogwu re­called that the min­is­ter laid the foun­da­tion block for the ed­i­fice and ex­pressed joy that the mall was com­pleted 16 months af­ter.

He said, Mall de­vel­oped by Gray-Bar Al­liance Lim­ited, an af­fil­i­ate of No­vare Real Es­tate Africa, is driven by for­eign di­rect in­vest­ment and adopts a hy­brid fi­nanc­ing. The Mall is val­ued at over $68mil­lion with 60 stores.

Vice Pres­i­dent Yemi Os­in­bajo (2nd right) in­spects a stand dur­ing the Na­tion­wide Mi­cro, Small and Medium En­ter­prise Clin­ics for Vi­able En­ter­prises (MSME CLIN­ICS) flag-off in Osogbo, Osun State on Thurs­day. With him is the Min­is­ter of Health, Prof. Isaac Ade­wole (right) and Gov­er­nor Rauf Aregbesola (be­hind the vice pres­i­dent)

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