FG Committed To Tackling Challenges Facing Local Industries - disnaija.com

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Okonjo-Iweala

The Coordinating Minister for the Economy  and Minister of Finance , Dr. Ngozi Okonjo Iweala has re-affirmed the federal government’s commitment to tackle the various challenges facing local industries in the country especially with the zero duty free import for their equipment. Doctor Iweala while stating this also announced that efforts would be made to ensure that banks charged lower interest on loans for business to thrive in the country. The minister commended the foresight for the establishment of the Cold Steel Rolling Mill complex, which she noted is in consonance with the policy of the president to develop local industries. She also stated that the federal government recognizes the challenges being faced by local industries and is determined to find solutions to them soonest. She added that the present administration is committed to creating an enabling environment and set pace for the local industries to strive through solid infrastructural development with uninterrupted power supply. The medium scale enterprises, she noted, is the bedrock of the country’s economy and pointed out that policies that would have direct positive impact on production would be put in place by the federal government. She however appealed to all local industries in the country to work hard towards producing good products that would satisfy the market. She pointed out that the ultra-modern rolling steel mill is a monument achievement to the state and the country at large. ` Kwara state governor, Abdulfatah Ahmed assured that his administration would continue to work closely with local industries in its bid to reduce unemployment to the barest minimum, adding that the Kam Industries is a source of pride to the people of the state. Governor Ahmed, who was represented by the Secretary to the State Governor, Isiaka Gold stressed the need for federal government to create an enabling environment for local industries to thrive. He appealed to the federal government to grant free import duties to the local industries. Earlier in her address, the Deputy Managing Director of the industries, Alhaja Mariam Yusuf, said the multi-billion naira project is an assembly of technologies from eleven countries including Belgium, India and Brazil among others. She noted that when completed, Nigeria would have the capabilities to produce one million metric tons of cold roll sheet from the existing cold rolling steel mill.

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