According to the Federal Government, efforts are being made continuously to address the burden on foreign exchange.
This was said on Tuesday during the commissioning of two new factories and the extension of the Tropical General Investment Group (TGI) at the Sagamu Inter-change in Ogun State by Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite.
According to Dr. Uzoka-Anite, in order to promote economic recovery, the Federal Government, led by President Bola Ahmed Tinubu, would keep promoting industry and mobilizing resources as needed.
She went on to say that the current administration would also see to it that any obstacles that would prevent companies in the nation from thriving are removed.
“President Bola Ahmed Tinubu faces the challenges of economic diversification, pressure on foreign exchange, and unemployment.
“Value chain expansion and manufacturing are essential to our nation’s overall development. There is no avoiding it; we cannot afford it and the reason for our inaction is significant,” she remarked.
The TGI Group, according to Ogun State Governor Prince Dapo Abiodun, is evidence that the state is headed in the right direction.
Governor Abiodun noted that when businesses practice corporate social responsibility, the community takes ownership and supports their entire development. He also praised the group for having a strong sense of social duty.
“I would like to express my gratitude to the TGI group because you are a shining example of foreign direct investment and a classic Ogun State success story. You are a reference point industry.”
“You wouldn’t be growing your business if we hadn’t raised the state’s ranking on the ease of doing business index. You are evidence that we are really walking the walk, and we are honored to be associated with you,” he remarked.
According to Prince Abiodun, the state has one of the two most resilient economies in the nation and the most improved economy overall.
He declared that his administration will keep putting in place the infrastructure required for additional businesses to prosper in the state and that the Agro Cargo Airport, which he was building, would soon be operational.
During his welcome speech, TGI’s Executive Director of Food Distribution, Mr. Roy Deepanjan, mentioned that the company sources around 80% of its raw ingredients locally and expressed pride in its association with the state.