We’ll Tackle Pressure on Foreign Exchange – FG

We'll Tackle Pressure on Foreign Exchange - FG

The Federal Government has reaffirmed its commitment to addressing foreign exchange pressures through continuous efforts. Dr. Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment, emphasized this during the inauguration of two new factories and the expansion of the Tropical General Investment Group (TGI) facilities at the Sagamu Interchange in Ogun State.

Dr. Uzoka-Anite highlighted the government’s dedication, led by President Bola Ahmed Tinubu, toward fostering industrialization and leveraging resources to bolster economic recovery.

She emphasized the administration’s commitment to eliminating barriers that could impede business growth within the country.

“The current administration, under President Bola Ahmed Tinubu’s leadership, is resolutely addressing challenges such as unemployment, foreign exchange pressures, and economic diversification,” Dr. Uzoka-Anite affirmed.

Acknowledging the significance of manufacturing and value chain addition for national progress, she stressed the imperative nature of proactive measures, stating, “Inaction is not an option; the stakes are significant, and we must act.”

Ogun State Governor, Prince Dapo Abiodun, lauded the TGI Group as a testament to the state’s positive trajectory. He commended the group’s strong sense of corporate social responsibility, emphasizing the community’s ownership and support in facilitating holistic development when companies engage in such initiatives.

ALSO SEE: “Consider The Future of Our Pupils”, OYOSUBEB Tells Church with Cemetery On School Land

“The success story of Ogun State is mirrored in the achievements of the TGI Group, symbolizing foreign direct investment success,” Governor Abiodun expressed. He attributed the expansion of businesses to the state’s improved ranking on the ease of doing business index, signifying tangible progress and a strong partnership with entities like the TGI Group.

Highlighting the state’s economic resilience and growth, the Governor pledged to continue fortifying the necessary infrastructure to facilitate a thriving business environment. He also mentioned the imminent commencement of operations at the Agro Cargo Airport, a project initiated by his administration to further bolster economic activities.

During the welcome address, Mr. Roy Deepanjan, the Executive Director of Food Distribution at TGI, revealed that approximately 80% of the company’s raw materials are locally sourced. He expressed the company’s pride in its association with Ogun State.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.