Gov. Ahmed Ododo of Kogi has commended President Bola Tinubu’s economic reforms, saying they are creating an enabling environment for industrialisation and private sector investment.
Ododo stated this on Sunday in Lokoja while inaugurating the Confluence Lube world-class lubricant blending and packaging factory along Ganaja-Ajaokuta Expressway.
The governor declared that Nigeria is gradually regaining its glory under the Tinubu administration.
The News Agency of Nigeria reports that the factory is owned by Godec Power Nigeria Ltd.
Ododo described the investment as a significant contribution to the state’s industrialisation drive, job creation and economic prosperity.
He said that establishment of the facility demonstrated growing confidence in Kogi’s economic potential.
According to him, the state can only achieve its full economic potential when investors commit their resources to productive ventures that create employment and add value to the local economy.
The governor commended the Managing Director and Chairman of Godec Power Nigeria Ltd., Chief Okechukwu Obika, who is also the Vice President of the Igbo Community in Kogi, for investing in the state.
He lauded Obika for establishing a facility that produces engine oils and plastic containers, providing employment opportunities for hundreds of people of Kogi.
Ododo emphasised that his administration welcomed investors, who are willing to process resources locally rather than take raw materials out of the state without creating economic benefits for the people.
He reaffirmed his commitment to building a private sector capable of employing far more people than the public sector.
To encourage business growth, the governor announced a three-year waiver on selected state annual levies for the company.
He listed the levies to include Land Use Charge, Environmental Levy, Business Premises Annual Renewal, Fire Service Levy and Economic Development Levy.
Ododo assured investors of his administration’s continued support, adding that Kogi possessed strategic location, resources and human capacity to emerge as a major industrial hub in Nigeria.
Earlier, Obika said the company, established in 2001 as an electricity trading business, had diversified into cargo tricycle assembly, lubricant production, plastic recycling and manufacturing, among others.
He explained that the Confluence Lube facility produces engine oils for petrol and diesel engines, transmission oils and plastic containers.
Obika said plans were underway to introduce hydraulic oil, brake fluid, transformer oil and grease.
He disclosed that the company had already created 100 direct jobs and more than 200 indirect jobs, with potential to grow to over 300 direct and 1,000 indirect jobs at full operational capacity.
Also speaking, the Commissioner for Commerce and Industry, Mr Muhammed Shuaibu, reiterated the state government’s commitment to working with investors and communities to promote economic development and collective prosperity.
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