President Muhammadu Buhari on Thursday, inaugurated the Sokoto BUA cement factory and urged manufacturers to maximally utilise Federal Government’s support windows.
Buhari made the call while inaugurating the new three Million Metric Tonnes of Line Four Cement Plant and commissioned the groundbreaking for Line Five inSokoto.
He reiterated his administration’s commitment to supporting reasonable investors for job creation and boosting the nation’s economy.
The President noted that the FG introduced policies and programmes to facilitate robust development in all sectors, adding that the Gas Industry was initiated to enhance manufacturing companies potentialities.
Buhari commended BUA Cement for being highest employer of labour in northwestern states and urged investors to emulate BUA group on the efforts.
According to him, he inaugurated Line two when he was the then Head of State in 1985 and at present, inaugurated Line four which is historic to his life.
In his remark, Gov. Aminu Tambuwal of Sokoto state, said his administration encouraged investors into the state with suitable policies such as provision of land and reduction of levies.
Tambuwal said Sokoto became second in the ranking of ease of doing business initiative in the country, stressing that fertiliser plants and others were in the state and established remarkable businesses.
He commended BUA group for their commitment in the state and assured more encouragements for the growth of the state and nation at large.
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, urged manufacturers to work toward reducing the cost of building materials across the country in recognition of the housing deficit.
Emefiele noted that FG remained seriously committed to support investors, including building industry in view of the nation’s challenges, stressing that President Buhari’s presence at the event had further demonstrated the government’s commitments.
He said building industry was critical component of reducing unemployment rates as raw material were fully available within the country, and urged manufacturers to consider reducing exports until the nation became sufficient.
Emefiele noted that BUA’s investment reflected the company’s belief in Nigeria, as investment were from indigenous contributors without resort to foreign investments.
According to him, FG strives to ensure self-reliance economy by consuming what the nation produces, that saves the nation huge foreign exchange as raw materials are readily available especially Cement which is limestone.
He explained that increase of Cement production from 30 million metric tonnes in 2014 to 60 metric tonnes in 2021, had saved Nigeria lots of US Dollars exchange and created jobs for Nigerians.
”CBN is ready to collaborate with genuine investors on all sectors for the growth and development of the national economy ” Emefiele said.
Earlier, Chairman BUA Cement, Alhaji Abdulsamad Rabi’u said the company wholly used local raw materials in its productions as well as ensured environmental friendly and safety standard practices.
Rabi’u noted that the company used Liquefied Natural Gas (NLG) which promoted safe environment.
He said when line five is completed by 2023, BUA Cement would produce 17 million metric tonnes of Cement per annum, which would attract more employment of Nigerians.
According to him, the ratio will argument the nation’s demands, adding that in the past six years, BUA completed four Cement plants in Edo and Sokoto states.
” BUA will continue in the direction till the nation becomes sufficient and affordable price of Cement in Nigeria with 95 to 98 per cent use of local materials.
” We facilitate our power plants to ensure environmental safety and will be first company to patronise FG gas project,” ‘Rabi’u said.
According to him, BUA have invested billions in its investments and urged the CBN to argument the successes.
The chairman assured more support to host communities on social support platforms and further commended Tambuwal on his support and friendly policies.
The News Agency of Nigeria (NAN) reports that the event was attended by governors of Kano, Jigawa, Kebbi and Kwara and the Sultan of Sokoto, Alhaji Sa’ad Abubakar, Ooni of Ife, Emirs of Kano, Bichi along with other traditional rulers and government officials.