President Muhammadu Buhari has said that his administration will continue to implement policies that would attract investment and spark competition in critical sectors of the economy for employment creation and growth.
Speaking when he received the chairman and the management team of LADOL Integrated Logistics Enterprise at the presidential villa, Buhari commended the company for taking full advantage of his administration’s pro-business policies aimed at bringing domestic and direct foreign investments, which are already yielding prosperity to the people of the country.
“Your competitive and aggressive activities have brought you success. I am pleased that you are investing in a critical area, the oil industry, in which I have developed interest. I am happy you are training Nigerians and giving them respectful jobs. What you are doing shows that whoever tries will succeed”, a statement by his senior special assistant on media and publicity, Mallam Garba Shehu, quoted the president as telling the LADOL management team.
The chairman and chief executive officer of the company, Chief Oladipo Jadesimi, had earlier told the president that they had come to thank him for creating the enabling environment that had enabled the firm to create a $10 billion investment and 50,000 new jobs.
On her part, the managing director of LADOL, Dr Amy Jadesimi, informed the president that their investment had a mission to attract local and international companies that would help reduce the cost of off-shore support services.
According to her, “policies initiated by this government by abrogating monopoly, thereby allowing IOCs (International Oil Companies) to use any facility in Nigeria, yielded immediate positive result for the Nigerian economy by reducing costs by 50 percent.”
She said that in the near future, seven more FPSO (floating production storage off-loading) units would be built in Nigeria, bringing $100 billion investment, thousands of jobs and a diversification of the economy due to 70 per cent local content.
The MD expressed the determination of LADOL to turn Nigeria into a hub for logistics and heavy lifting in the sub-region by providing 24-hour, seven-days-a-week support services in the Lagos area.
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