Recession: Buhari Commits To Developing Nigeria’s Manufacturing Sector

Muhammadu Buhari, Manufacturing SectorPresident Muhammadu Buhari has reiterated his commitment to developing the manufacturing sector of the economy as a way out of Nigeria’s recession.

President Buhari made the promise at the annual meeting with members of the Manufacturers Association of Nigeria (MAN).

The pledge is coming on the heels of serious concerns raised by members of the association regarding administrative bottlenecks which they say affect the manufacturing sector negatively.

Speaking on Thursday in Abuja in company of some of his cabinet members, the President of MAN, Mr Frank Udemba and the President of Dangote Group, Mr Aliko Dankote, highlighted some challenges facing the sector.

Other members of the association further sought government’s intervention in the areas of steady electricity supply and reduction of company income tax.

They argued that the manufacturing sector was capable of helping Nigeria overcome its economic recession.

Dangote To Invest 53bn Naira In Nasarawa State

Dangote, NasarawaPresident of Dangote Group, Mr Aliko Dangote, is set to invest 53 billion Naira in rice, sugar cane and coal production in Nasarawa State.

The Managing Director, Dangote Sugar Company, Mr Abdullahi Sule, who represented the Nigerian billionaire, disclosed the investment plan to journalists on Saturday.

He was speaking after an aerial survey of the proposed investment sites in Nasarawa State, north-central Nigeria.

Mr Sule expressed optimism that the projects, if completed, would generate jobs for over 20,000 people.

On his part, Governor Tanko Al-Makura described the investment as a timely one.

He expressed hope that it would go in line with the diversification policy of the Federal Government.

Togolese President Visits Dangote Refinery

Togo_presidentTogo’s President, Faure Gnassingbe, is in Lagos for a visit to the Dangote Refinery at the Lekki Trade Zone.

President Gnassingbe on Tuesday arrived the Presidential Wing of the Murtala Mohammed International Airport, Lagos.

The President and his entourage were received by the Governor of Lagos State, Mr Akinwunmi Ambode, the Minister of Industry, Trade and Investment, Okechukwu Enalemah, President of Dangote Group, Alhaji Alinko Dangote and some members of the business community.

President Gnassingbe’s visit to the refinery is premised on a possible business partnership between Dangote Group and the West African country.

The Togolee President also met with President Muhammadu Buhari. Both presidents met for about an hour in the President’s office.

While President Buhari commended Mr Aliko Dangote for his effort in the building of the refinery, the visiting president said that the refinery would go a long way to promote trade and contribute to reduce import from non-African countries.

Stabilise Niger Delta

President Buhari also promised that the Nigerian government would do all in its powers to stabilise the Niger Delta region to make the pumping of gas to other West African countries easy.

President Buhari had made a similar promise to the new President of Benin Republic, Mr Patrice Talon who also visited Nigeria for bilateral talks.

The discussion between the two leaders at the Presidential Villa centred on security, power and trade relations.

President Buhari thanked Benin Republic for contributing to the effort to check the Boko Haram insurgency and called on the West African nations to beware of restrictions on trade relations.

President Talon described Nigeria as a big brother who is needed at all times for his country to stabilise, especially in the power sector.

VP Osinbajo Inspects Dangote Refinery In Lagos

Yemi-Osinbajo-Dangote,RefineryVice President Yemi Osinbajo on Sunday inspected the site of the Dangote Refinery and Gas Stations in Lagos, Nigeria’s commercial capital.

Professor Osinbajo told journalists after a tour of the investment at the industrial area in Lekki Free Zone that the projects are strategic assets for Nigeria at this time.

He described the electricity project as an important one that would boost power supply tremendously.

In his remarks, the President of Dangote Group, Mr Aliko Dangote, said that the refinery would start production by the first quarter of year 2019.

He stated that when completed, it would be the largest single-line refinery in the world and that the gas pipeline would be able to generate 12,000 megawatts of power.

The Vice President and his team were received by the Governor of Lagos State, Akinwunmi Ambode, Mr Femi Otedola and top state government functionaries.

When completed in 2019, the Dangote Refinery and Gas Stations are expected to enhance power generation in Nigeria and create employment opportunities for many youths.