Growth Of Private Conglomerates Evidence Of Correctness Of Policies – Buhari

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President Muhammadu Buhari yesterday in Abuja said entrepreneurs and the business community whose investments align with the priorities of the government in value and job creation would continue receiving the full support of his administration, noting that the huge growth experienced by conglomerates like BUA Group is evidence of the correctness of government policies.

The president, who received the management of BUA Group at the State House led by the chairman, Abdul Samad Rabiu, in a statement by presidential spokesman, Femi Adesina, said the government’s focus was on import substitution to encourage local production and export stimulate growth and stability, urging investors to take advantage of the vision.

“Let me assure you and the entire business community that this Government remains ready, willing and able to support all well-meaning Nigerian entrepreneurs whose investments align with our import substitution and domestic job creation policies and programs,’’ he said.
President Buhari commended the chairman of BUA Group for concentrating investments in the country, and transiting from trade to manufacturing.
“I am impressed and proud of the transformation BUA has made from trading concern to a manufacturing conglomerate.
“A key pillar of our administration’s policy thrust is import substitution especially when it comes to essential items such as food, household consumables and shelter. A nation of our size and with our natural and human resources is exhibiting its weakness if it continues importing essential commodities.
“For every grain of rice, wheat or maize we import, we destroy the livelihoods of our local farmers while creating jobs abroad. It is because of this that seven years ago, our Government introduced numerous laws, executive orders and incentives that support businesses with import substitution projects,’’ the President said.
He stressed that the focus of the admiration stays on job creation and economic security. In his remarks, Alhaji Rabiu said the BUA Group was very mindful of where it was at the advent of the Buhari administration, and the giant strides it had taken today.