President Buhari’ Govt committed to to promoting foreign investment ― Hon. Buba

 
Fri Oct 18th, 2019 - Lagos
 

The House Committee Chairman on Foreign Affairs, Hon. Yusuf Buba, says President Muhammadu Buhari is committed to promoting foreign investment and industrialization in Nigeria.

Hon. Buba at the inauguration of the Floating Glass Production Line of CNG Glass Nigeria FTZE

Buba spoke at the inauguration of the Floating Glass Production Line of CNG Glass Nigeria FTZE on Friday in Ota, Ogun.

The News Agency of Nigeria (NAN) reports that the production line located in Ogun Guangdong Free Trade Zone has a daily melting capacity of 500 tons. He said the president had taken steps in the four and half years of his administration to attract foreign investments and industrialize the country.

The House Committee chairman described the floating glass production line as one of the results of the enabling environment the Federal Government was creating to promote investment.

Buba commended the Ogun-Guangdong FTZ for promoting industrialization and CNG Glass for deeming it convenient to establish the factory and create jobs.

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He said that the legislature would continue to engage the executive to attract investments and improve the operating environment. ”One of the cardinal objectives of President Muhammadu Buhari’s Government is to see that Nigeria becomes an industrialized nation.

”This is what the government has been doing in the past four years, trying to create an enabling environment for companies like this to operate freely and successfully.

”We want to assure the management of Ogun Guangdong FTZ, CNG Glass and other companies in the zone and elsewhere, of government ‘s support in terms of security, infrastructure, and others so that they can thrive,” he said. Buba said that the establishment of the glass production line was another plus for the economic relations between China and Nigeria.

He said the two countries were strategic partners in many areas, adding that he was optimistic about more positive results from the partnership. The committee chairman said he was elated by the setting up of the factory, adding that it would not only improve glass supply but create jobs for young Nigerians.

He appealed to those employed by the company to work hard and be good ambassadors of Nigeria. ”For those of you who are employed in the company, I urge you to be good ambassadors, put in your best to see that the company grows as it will be to the benefit of both countries,” he said.

Also, an Administrator of Nigeria Export Processing Zone Authority (NEPZA), Mr. Juwon Falope, described Nigeria as the biggest investment point of Africa. Falope said that the country has the market, infrastructure and all the other wherewithals to guarantee return on investments.

Falope commended CNG Glass for making the decision to establish the glass production line, assuring them that they were in the right place. He said the government would continue to do its best to promote investment in the country.

In his remarks, the Consul-General, of the Peoples Republic of China Consulate in Lagos, Mr Chu Maoming, praised the strong relations between his country and Nigeria. Chu said China would continue to partner Nigeria to promote the development of the country.

The consul-general noted that the Glass production line was proof of China’s commitment to contribute to Nigeria’s development and create jobs. He congratulated CNG for the 500 tons of floated glass and online-Solar coated glass per day.

Also, Mr. Cui Xiangdon, Chief Executive Officer, China Glass Holdings, the parent company of CNG Glass, said that the project used coating technology with independent intellectual property rights of China glass holdings to produce high-quality float and coated glass products of 4-12mm.

“The annual capacity is 150,000 tons, which can meet the glass needs in Nigeria and neighboring countries.

“The completion and operation of the 500 t/d floating glass production line could positively promote the development of the local economy and benefit the Nigerian people.

”’ CNG Glass (Nigeria) FZE could create around 200 employment positions directly, more than 1000 employment positions indirectly and promote dozens of industries development from upstream to downstream prospering the local economy,” he said.

Vanguard News

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source: Vanguard