Osinbajo advocates private sector collaboration, backward integration for economic growth

Please follow and like us:

  • 0
  • Share

By Moses Nosike

The acting President, Yemi Osinbajo while commissioning Procter & Gamble (P&G) plant in Ogun State recently said private sector collaboration, backward integration is the way forward for Nigerian economy, even as government strives to provide conducive environment for business operation in the country.

He commended the effort of the company that despite the trying times in the country continues to invest in Nigeria, saying, this has shown P&G’s commitment to grow the economy of Nigeria. “This facility will continue to go a long way supporting economic and social development in the country and investment drive of our administration. I understand P&G’s investments create 5000 direct jobs and indirect jobs and several other SMEs across our country and also help boost Ogun State revenue thereby impacting positively on the overall community and its environs”.

Osinbajo said that this investment feat is in line with our policy of backward integration which is exemplified in the recently released ERGP which sets out an ambitious roadmap to return the economy to growth and to achieve a seven per cent growth rate by 2020.

In addition, Ogun State Governor, Senator Ibikunle Amosun, congratulates P&G for  commissioning of femcare, (Always Ultra brand) manufacturing line with a value of US$23 million and have kept their promise made 3 years to remain in the country despite harsh economic realities.

Amosun specially appreciated P&G for its cooperation with the security agencies, particularly in the provision of infrastructure. It is noteworthy to mention that P&G has been a model investor in the state since they commissioned their factory in 2014. We have seen them make social and economic contributions to the state through the completion of a 3-room office block, and the donation of security vehicle to the police and the donation of 200KVA Sound Proof Power Generator Set, to the Ministry of Health, Abeokuta H/Q in Ogun State for use as power back-up unit for Ijaiye General Hospital.

In the same vein, Managing Director, P&G, George Nassar, reiterated the company’s commitment to investing in Nigeria and support this administration’s vision to grow manufacturing and diversify the Nigerian economy.

Nassar said that Nigeria remains a focus area for P&G and our various activities continue contributing to economic growth. “P&G employs about 5000 people directly and indirectly with Nigerians making up over 95% of our managers locally and some on international assignments. Our social investments touch over 3 million Nigerians annually in health and education programs. Our recent partnership with UNESCO is educating 110,000 girls in the North Eastern part of the country with basic literacy and vocational training. P&G’s work in Nigeria is enabled by partnerships with government and regulatory agencies and we would like to applaud the various organizations and individuals who have worked with us in making this possible, particularly the regulatory bodies”.

International Communications Representative, P&G, Tope Oluyemi said that this investment is an assurance of P&G’s commitment to continually contribute to Nigeria’s economic and social development through localisation of its products. This will in turn make Nigeria a key export hub for Africa and will further lead to creation of jobs, SME’s and development of human capital in the country.

The post Osinbajo advocates private sector collaboration, backward integration for economic growth appeared first on Vanguard News.

Facebook Comments

Please follow and like us:

  • 0
  • Share

Leave a Reply

Your email address will not be published. Required fields are marked *