Ododo unveils three-year tax relief for businesses as Kogi opens lubricant factory

Kogi State Governor, Alhaji Ahmed Ododo, has announced a three-year waiver on selected state levies for businesses as part of efforts to stimulate industrial growth, attract private investment and create employment opportunities.

The governor made the announcement on Sunday during the commissioning of the Confluence Lube lubricant blending and packaging factory, established by Godec Power Nigeria Limited along the Ganaja-Ajaokuta Expressway in Kogi State.

Ododo commended President Bola Ahmed Tinubu for creating an enabling environment for industrialisation and private-sector investment, expressing optimism that Nigeria was gradually regaining its economic strength through ongoing reforms.

He described the newly commissioned factory as a significant addition to Kogi State’s industrial sector, noting that investments of this nature would accelerate economic growth, generate employment and improve the livelihoods of residents.

According to him, the state’s economic potential can only be fully realised when investors commit resources to productive ventures that create jobs, process raw materials locally and add value to the economy.

The governor particularly praised the Managing Director and Chairman of Godec Power Nigeria Limited, Chief Okechukwu Obika, who is also the Vice President of the Igbo Community in Kogi State, for establishing the facility.

He said the production of engine oils and plastic containers would provide employment opportunities for the people while strengthening local manufacturing capacity.

Ododo reiterated his administration’s determination to develop a robust private sector capable of creating more jobs than the public service, stressing that industrial development remained central to his government’s economic agenda.

As part of incentives to encourage investment, he announced a three-year waiver on selected state levies, including Land Use Charge, Environmental Levy, Business Premises Annual Renewal, Fire Service Levy and Economic Development Levy.

He assured existing and prospective investors of the state government’s continued support, describing Kogi as a state strategically positioned to become a major industrial hub because of its location, natural resources and human capital.

The governor urged investors to take advantage of the state’s business-friendly policies by establishing industries that would expand economic opportunities and contribute to sustainable development.

In his welcome address, Obika said Godec Power Nigeria Limited was established in 2001 as an electricity trading business before diversifying into several sectors of the economy.

He explained that the company’s operations now span cargo tricycle assembly and distribution, lubricant production, plastic recycling, plastic container manufacturing, industrial tools and agricultural processing equipment.

According to him, the Confluence Lube facility manufactures engine oils for petrol and diesel engines, transmission oils and plastic containers, while plans are under way to expand its product line to include hydraulic oil, brake fluid, transformer oil and grease.

Obika disclosed that the company had created 100 direct jobs and more than 200 indirect employment opportunities through its operations.

He added that the planned expansion of the factory to full operational capacity could increase employment to more than 300 direct jobs and over 1,000 indirect jobs.

The company chairman expressed confidence in the state’s economic prospects, noting that continued government support and a favourable business environment would enable local industries to expand their operations and contribute more significantly to the economy.

Also speaking at the event, the Kogi State Commissioner for Commerce and Industry, Muhammed Muktar Shuaibu, reaffirmed the government’s commitment to partnering with investors and communities to promote economic development.

Shuaibu emphasised the need for cooperation and inclusion in the state’s development efforts, noting that the administration remained committed to working with people from diverse backgrounds to achieve collective prosperity.

The commissioning of the Confluence Lube factory marks another step in Kogi State’s efforts to attract industrial investments, strengthen local manufacturing and expand employment opportunities through private-sector participation.