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Fashola ommissions N3.5 bn Nutricima factory

By Princewill Ekwujuru
Governor Raji Fashola     of Lagos has commissioned the N3.5 billion Nuticima Limited plant located in Ikorodu, Lagos State.
The plant a collaborative effort between PZ Cusson, UK and Glanbia Plc of Ireland is the ultra modern Ready To Drink (RTD) factory for Bliss, Yo and Nunu products from the stable of Nutricima

Fashola who praised the decision of the companies to invest N3.5 billion despite the global economic downturn, said, even though some companies are leaving Nigeria to re- invest in other  West African countries, the decision by both companies to establish the plant in Nigeria is an indication that there are potentials that still exists in  the Nigerian industrial sector that needed to be tapped.

Fashola observed  that the decision of both companies is borne out of a solid belief that Nigeria has the potentials, population, capacity and the ability to be the economic hub of West Africa.

The governor who blamed  lack of infrastructure on the predicament of manufacturers  called for tax relief for manufacturers, which in effect has been responsibility for under performance of manufacturers.  He noted that  manufacturers spend about 40 percent of their invests on infrastructure, particularly to power their activities said this is unhealthy for the manufacturing sector and the development of the economy.

His words, “our role is to provide a conducive environment for companies to thrive”, he assured that the  Lagos State government  will do what is within its reach to provide a level playing ground  for investments to thrive in the state.

Collaborating, Chief. Achike Udenwa, Minister of Commerce and Industry, said that the  decision by both companies to invest N3.5 billion is a clear endorsement and support for the present Administration’s desire to push Nigeria into the top 20 industrialized nations of the world by 2020. “This vision is borne out of a solid belief that we have the potentials, population, capacity and the ability to be in this elite group in the world by the target date.”

His words, . “Nigeria’s industrial policy is anchored on the need to accelerate the pace of industrial development through greater utilization of the nation’s human and natural resources to positively transform the lives of our teeming population.”

Continuing, he said that federal government’s priority is to increase Total Factor Productivity (TFP) with emphasis on knowledge and capital-intensive manufacturing, application of new technology, innovation, best management practices and a more efficient utilization of resources to promote the development patterns in our society and the needs of Nigeria’s growing middle class.


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