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GEJ Charges Foreign Coys To Move From Importation To Local Manufacturing

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ABUJA, December 5, (THEWILL) - President Goodluck Ebele Jonathan said Monday in Abuja that in furtherance of ongoing efforts to create more jobs in the country, the Federal Government was reviewing national industrial policies to persuade foreign companies that export a lot of finished products to Nigeria to start manufacturing in the country.

Speaking at an audience with the new Japanese Ambassador to Nigeria, Mr. Ryuichi Shoji, President Jonathan emphasized the Federal Government’s determination to take all necessary action to create new employment opportunities for the Nigerian youth.

A statement from Presidential Spokesman Reuben Abait said, the President told Mr. Shoji that he expected foreign companies from Japan and other nations who have a long history of very profitable economic relations with Nigeria to support his Administration’s efforts in this regard by moving from the importation of finished products to local manufacturing and assembling.

He said that his administration was working very hard to provide vital infrastructure, fiscal and monetary policies as well as a regulatory regime that will make it feasible for more foreign companies to begin manufacturing and assembling their products in Nigeria.

“Japan has been very supportive over the years, but we want you to do more. We consume a lot of Japanese products. We currently import more Japanese products than all other African countries. Japanese companies that export so much of their products to Nigeria have manufacturing and assembly plants in other countries. We want them to start manufacturing and assembling some of their products here too.

“We want to boost local production so that we can create jobs, create wealth and boost our peoples’ purchasing power,” President Jonathan told the Ambassador.

The President said that additional incentives were also being introduced by his Administration to encourage more foreign companies to begin manufacturing in Nigeria.

Mr. Shoji who had earlier presented his letters of credence to President Jonathan, told him that the Japanese Government was following the implementation of his Administration’s Agenda for National Transformation with keen interest.

He assured President Jonathan that Japanese companies would welcome an opportunity to contribute more to his government’s efforts to boost the productivity of the Nigerian economy.

President Jonathan also received the letters of credence of the new Ambassador of Cuba, Mr. Hugo Ramos Milanes and the new Portuguese Ambassador, Mr. Simeao Pinto de Mesquita.

Noting that Nigeria already enjoys excellent political relations with both Cuba and Portugal, the President urged the new ambassadors to work hard to boost trade and economic relations between their countries and Nigeria.

He wished them very successful tenures in Nigeria.