Jonathan woos investors with tax waiver
By Emmanuel Elebeke
As the nation moves towards the realization of its Vision 20 2020 objectives, President Goodluck Jonathan on Monday, challenged both prospective and existing investors to renew their confidence in Nigeria by investing in the country, saying that his administration was poised to granting tax waivers for any investor willing and committed to invest in the economy.
President Jonathan made the pledge while commissioning a N4 billion ultra-modern pharmaceutical factory, built by May & Baker PLC at Ota, Ogun state.
The new ultra-modern pharmaceutical company, which its construction commenced in 2008, is the first of its kind in the sub-Sahara Africa meeting World health Organization standards and other global regulatory bodies and has annual production capacity of 4.5 billion tablet.
Commenting on the new plant, President Jonathan said with the commissioning of the 4.5 billion capacity factory in Ogun State, the second in the whole of Africa, Nigerian has made history , as it will cause a drastic reduction of fake drugs in Nigeria, thereby making work easier for the National Agency for Food and Drugs Administration and Control, NAFDAC. Also, with the commissioning of the factory, the President said Nigeria has moved a step forward as global player in the drugs and food manufacturing, in realization of its Vision 20 2020 dreams and will be able to save billions of naira the country would have lost to capital flight, even as more jobs would be created for teaming Nigerian youths.
While commending the management of May & Baker for the confidence it repose in Nigeria and the commitment they demonstrated in building the factory, he called on other manufacturing companies to emulate May & Baker by investing in Nigeria, just as he said his administration is prepared to give all needed support to both local and foreign investors, through the provision of enabling environment and granting of tax waivers to all aspiring investors.
“What we are celebrating today is a success courtesy of May & Baker for putting up this ultra-modern drug manufacturing company in Nigeria.
