BY DAUD OLATUNJI & PROVIDENCE OBUH

ABEOKUTA – President  Goodluck Jonathan has disclosed that  the Federal Government  is committed  to diversifying the  economy   and move away from  what he described as mono-culture  of depending exclusively on crude oil in the country.

The President, who stated this, yesterday, in Itori-Ewekoro in Ewekoro Local Government  Area of Ogun State, during the commissioning  of  a 2.5-metric tonnes cement factory, by  Larfarge Cement WAPCO,  said cement  manufacturers had promised to end importation of cement by next year.

Jonathan, who arrived the cement  factory  at 11:15 a.m. in company of Gov. Ibikunle Amosun of Ogun State and some of the members of his cabinet, predicted that it was only diversification of economy that could sustain the economy of the country when the crude oil might have dried up.

According to him, “as a government,  our commitment is to make sure that we diversify, we must  move away from the mono-culture  of depending exclusively on crude oil.

“If  the prediction of the experts is true that  in about 35 to 45 years time, if we don’t discover oil, our reserve will dry up, then we know that as a nation, we must prepare for our children and grand children and that is why we must diversify.

“That’s why we must encourage our private sector to go into manufacturing so that even if the oil is dried up, we must have other ways, that can sustain our economy and provide jobs for our children and create an enabling environment for people to grow.”

Speaking earlier, Chairman, Larfarge WAPCO, Nigeria, Olusegun Osunkeye,  said  the new factory would inject N6 billion into the economy annually, and also provide well over 1,000 jobs.

According to him, “having fulfilled the national desire to establish a cement manufacturing company, Larfarge WAPCO, since its establishment in 1959, has made tremendous contributions in the availability of cement in the country.”.

Osunkeye  said the company had a current combined capacity of two million tonnes per annum.

The ceremony had in attendance,  the representative of the Lagos State governor, Babatunde Fashola, Commissioner for Commerce and Industries, Mrs. Olusola Oworu, former Head of Interim Government, Chief Ernest Sonekan, Deputy governor of Ogun state Segun Adesegun, the Alake of Egbaland Oba Adedotun Aremu Gbadebo, and many other dignitaries .