FG Moves to Accelerate Industrial Growth, Assures Investors of Sustained Support

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By Emmanuel Ugwu, Umuahia

Despite the vagaries of the present economic and business environment in Nigeria, the federal government has assured investors of its full commitment to enhance industrial growth to enable them reap maximum yields in their investments.

The Minister of Industry, Trade and Investment, Mr. Okechukwu Enelamah gave the firm assurance when he toured a number of industrial clusters located at Aba, the industrial and commercial heart beat of Abia state.

The minister, whose entourage included the director of industrial development in the ministry, Adewale Bakare and the managing director of Bank of Industry (BoI), Olukayode Pitan, has been on a confidence building tour of industrial locations across the country. He has so far visited the South West and South East zones feeling the pulse of manufacturers with a view to assisting them overcome the challenges confronting them.

At the Inner Galaxy indusial Park in Ahala Ukwu village, Umuahala Obuzor Ukwu, Ukwa West local government of Abia, Enelamah and his entourage were pleasantly surprised at the industrial development taking place in the Abia rural community.  He expressed deep appreciation to the Chinese investors for their confidence in Nigeria’s economy with the establishment of the high-tech manufacturing and servicing group of companies in Abia.

Enelamah said that diversification and industrialisation remain the main thrust of government’s economic policy, which also includes food security and infrastructure development across the nation, adding that it was important for the South East to embrace the economic policy of government.

According to him, with the prevailing economic policy, the present government has further demonstrated its commitment to be “a good partner, good regulator (of the business environment) as well as being a good government to the people of Nigeria.

He said that the presence of Inner Galaxy Group in Abia and the success story it has started posting has further reinforced the commitment of the federal government to work with the states for the realisation of the nation’s industrialisation agenda.

“This is a season of cooperation and partnership,” he said, adding, every incentive needed to build the confidence of investors would be provided, including tax incentives and removing of obstacle hindering the ease of doing business in Nigeria.

Alluding to the action of Biafra agitators, who disrupted his scheduled interaction with the members of Powerline Shoe Manufacturers Association of Nigeria (PSMAN), the minister noted that it has further underlined the urgent need for rapid industrialisation of the South East zone.

He said that with the presence of many industries in the zone, a huge population of youths would be “sucked up” by the attendant employment opportunities and if the youths were fully engaged the rising tide of agitation in the zone would subside.

In his address the Group Managing Director of Inner Galaxy Group. Mr. Andy Lu, lauded the minister for his support and encouragement, adding that the ease of doing business has become less cumbersome.

He said that the Inner Galaxy industrial complex which presently comprises five companies already has 3,000 Nigerians in its employment while thousands more job opportunities would be created as 15 other companies would come on stream in due course.

Lu said that he commenced the construction of the industrial park in 2014 at the time when other investors were running away from Nigeria due to the economic down turn, adding that he has so far invested $150 million in the project.

“We are investing for the future and not for today (because) one day Nigeria will be out of recession,” he said.