DR OKECHUKWU Enelamah,
the Minister of Industry, Trade
and Investment, says the
Federal Government is serious
about resolving the challenges
hampering economic growth.
Enelamah, who stated this
yesterday a factory tour of
May and Baker and Fidson
Pharmaceuticals in Otta,
Ogun State, said that to
achieve the goal, government
would partner with the private
sector toward understanding
their problems and using a
systematic approach to resolve
the issues.
The most important
legacy we want to achieve
as a government is to create
an enabling environment
for businesses to thrive by
improving the ease of doing
business. “We are interested in
increasing our local production
standard and quality assurance
of our products.
“I want to see capacity
utilisation keep going up and
issues hampering it resolved.
“The thrust is to diversify the
economy and the only way we
can do this is to partner with
the private sector,” he said.
The minister said that
government was committed to
improvement of infrastructure,
power, funding and local
procurement of goods that
would enhance growth of the
manufacturing sector.
Mr Kayode Pitan, the
Managing Director, Bank of
Industry BoI,, said the bank
was interested in improving
industrial sector’s access to
finance for expansion that
would aid job creation.
He said that the challenges
facing operators in the
manufacturing sector were
similar and surmountable,
adding that government was
working assiduously to resolve
the issues through its various
policies.
The Managing Director,
May & Baker Ltd, Dr
Nnamdi Okafor, commended
government’s effort in
improving the country’s
business climate through
policies and the Executive
Orders. “Your presence shows
you want to get first-hand
information on challenges
impeding the pharmaceutical
industry.
“I must commend BoI
because without the bank
this company would be nonfunctional.
We were able to
access about one billion naira
from the bank two years ago,”
Okafor said.
He urged the government
to resolve challenges delaying
clearance of goods at the
seaports, cost of fund, influx
of imported substandard
medicines and power
challenges.


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