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The Federal Government has promised to ease the pressure on foreign exchange.
Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, gave the assurance yesterday during the commissioning of two new factories and extension of Tropical General Investment Group (TGI) at Sagamu, Ogun State.
She said the President Bola Tinubu administration would continue to encourage industrialisation and mobilise resources to boost economic recovery.
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The minister added that the current government would also ensure dismantling of bottlenecks for businesses to thrive nationwide.
She said: “The challenge of unemployment, pressure on foreign exchange and economic diversification is one that President Bola Tinubu is determined to tackle conclusively.
“Manufacturing and value chain addition are necessary for the overall development of our country.”
Governor Dapo Abiodun, in his remarks, noted that the TGI Group “is a testament that the state is moving towards the right direction.”
He lauded the organisation’s deep sense of corporate social responsibility, adding that when companies engage in social activities, the community takes ownership and supports their overall development.
The governor pledged his administration’s commitment to provision of infrastructure for more companies to succeed in the state.
Earlier in his welcome address, Executive Director, Food Distribution, TGI, Roy Deepanjan, pointed out that about 80 per cent of their raw materials are locally sourced.
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