FG tasks investors to take advantage of business incentives

The Minister of Industry, Trade and Investment, Okechukwu Enelamah, has tasked aspiring and existing investors to take advantage of the various business incentives available in Nigeria.

Enelamah, who made the call recently during a tour of economic zones and special cities in Abia State, restated government unalloyed commitment to the nation’s industrialization.

The minister was accompanied on the one-day working visit by the managing director of Bank of Industry, Olukayode Pitan and top officials of the State’s Ministry of Trade.

During the tour, Enelamah visited Aba Shoe Cluster, the proposed site of Abia Industrial Park, and Inner Galaxy Group, a Steel Melting and Fabrication Company.

Speaking at a meeting with the top management staff of Inner Galaxy Group, the minister said in the pursuit of the industrialization and diversification agenda, special focus would be placed on engaging in partnership with not only state governments, but also private individuals and corporate organisations.

“From the point of view of this government, there is no question about industrialization and diversification of our economy. It is the centre piece of our economic strategy,” he said.

The Group Managing Director of Inner Galaxy Group  Andy Lu, stated that the decision to invest in Nigeria at a point companies were moving out in droves, was reinforced by the present administration’s dogged determination to do things right.

He said the steel melting and fabrication company which was incorporated in 2014 with an investment portfolio of $150million dollar currently employ over 3,000 direct staff.

Andy Lu who said the company is poised to pursue expansion drive, however, called on the federal government for a special waiver to enable the company import equipment at duty free.

The GMD also announced that the company would approach the Bank of Industry for a loan facility of N6billion to enable it shore up its production base.