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Plastic firm harps on enabling environment for FDI

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By Naomi Uzor

Lexsz Plastics, a recycling company, has urged the Federal Government to improve on infrastructure so as to boost Foreign Direct Investment, FDI, in the country.

In a chat with newsmen in Lagos, the Executive Director, Lexsz Plastics, Oba Olufemi Akowe, said government should create  a conducive business environment, especially on infrastructure, so that businesses can flourish and attract more FDIs into the country.

Oba Akowe stated: “With four production lines refining and processing, Lexsz Plastics is the largest plastics recycling enterprise in the entire West Africa and can attract more FDI if infrastructure is put in place.

L-R; President Muhammadu Buhari, Minister of Justice and Attorney General of the Federal Abubakar Malami, Minister of Agriculture, Chief Audu Ogbeh, Minister of State Agriculture and Rural Development, Mr. Heineken Lokpobiri and Minister of Budget and National Planning, Sen Udoma Udo Udoma during the federal Executive council (FEC) meeting held at the Council Youths and Sports, Solomon Dalung and Minister of State Mines and Steels, Alhaji Bawa Bwari Chamber in Abuja. PHOTO; SUNDAY AGHAEZE. NOV 7 2018.

“The production scale of PET bottles per year amounted to over 100,000 tons to meet the major chemical Yangtze River Delta region of China class enterprise demand for a large number of raw materials.”

Speaking further, he said: “With over ten thousand local workers, the company’s products not only save a lot of energy and resources, but also effective for environmental protection areas in Lagos state and its environs.”

He stressed that the company has been empowering public, private sector operators in Nigeria in clearing waste in the environment and  since inception in 2011  has relied solely on waste supply by individuals, government agencies cleaning dump sites and it own waste cleaning efforts to acquire raw materials for recycling to feed its factory.

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“We rely on individuals who go round the cities and towns picking wastes and  later sell to us. We also help the governments in some South West states to clear the state dump sites and even pay their agencies.” he said.

Akowe disclosed that the company generates its own electricity through installation of high powered megawatts of electricity through gas turbines from NNPC.


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