Set up factories in Nigeria- VP Osinbajo tells Multinationals

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Osinbajo

  …Commissions N4.1bn  Nestle Milo Ready-To-Drink Factory

By Samuel Ibiyemi

Vice President Professor Yemi Osinbajo has called on multinationals to set up factories in Nigeria to take advantage of viable Economic Recovery and Growth Plan ( EGRP) put in place by the administration of President Muhammadu Buhari.

This position was made known to multinationals in the speech of Address by His Excellency, Prof. Yemi Osinbajo, SAN, GCON, at the Commissioning of the New Nestle Milo Ready-To-Drink Factory in Agbara, Ogun State, Nigeria, on Thursday, 08 February, 2018:

According to him: “Our government is also a “ready-to-serve” government, ensuring that we implement the Economic Recovery and Growth Plan (ERGP) to keep the economy on the path of sustainable economic growth and global competitiveness.”

Vice President Osinbajo added that one important component of the plan is the provision of critical infrastructure, such as roads, rail and power, which this administration is fully committed to. “We’re fully committed to supporting companies such as Nestle as we spur growth and create jobs within the economy, he promised.

Commending the contributions of Nestle Plc, the Vice President noted that Nestlé MILO holds a special place in the heart of every Nigerian since as children everybody  aspired to be future champions. Indeed, Nestlé’s commitment to doing business in Nigeria according to him  has been unwavering over the past 57 years, since the company’s establishment in Nigeria in 1961. “This is truly worth commending – particularly when you consider the socio-economic benefits achieved for Nigeria by the location of its factories in rural areas and sourcing its raw materials from local farmers,” he said.

He said: “I recall inaugurating the Abaji water factory in May 2016 and, today, the Ready-to-Drink Factory is another testimonial of the company’s commitment and success in Nigeria.

According to Osinbajo, the  factory  built at a cost of N4.1 billion will create 150 direct jobs in addition to local sourcing of raw materials from Nestle’s network of over 30,000 farmers.

Drawing an analogy from that, he said that Buhari’s administration   is also a “ready-to-serve” government, ensuring that the Economic Recovery and Growth Plan (ERGP)  is implemented to keep the economy on the path of sustainable economic growth and global competitiveness.

According to him, one important component of the Plan is the provision of critical infrastructure, such as roads, rail and power, which this administration is fully committed to.

“We’re fully committed to supporting companies such as Nestle as we spur growth and create jobs within the economy, “ he promised.

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