The Federal Government says it is working round the clock in ensuring that the pressure on foreign exchange is tackled.
Minister of Industry,Trade and Investment, Dr. Doris Uzoka-Anite stated this on Tuesday during the inauguration of two new factories and extension of the Tropical General Investment Group (TGI), at the Sagamu Inter-change in Ogun.
Uzoka-Anite said that the Federal Government under the leadership of President Bola Tinubu would continue to encourage industrialisation and mobilise resources where necessary to boost economic recovery.
She added that the present administration would also ensure the removal of road blocks that could hinder businesses to thrive in the country.
“The challenge of unemployment, pressure on foreign exchange and economic diversification is one that President Tinubu is determined to tackle conclusively.
“Manufacturing and value chain addition is necessary for the overall development of our country. There is no way around it; the cause of inaction is huge and we cannot afford it,” she said.
In his remarks, Gov. Dapo Abiodun noted that the TGI Group remains a testament that the state was moving towards the right direction.
Abiodun, who also commended the deep sense of corporate social responsibility of the group, added that when companies engage in corporate social responsibility, the community takes ownership and supports their overall development.
“I want to thank the TGI group because you are a classical example of the success story of Ogun State; you are a reference point industry, a shinning example of foreign direct investment in the country.
The governor explained that the state was the most improved economy in the country as well as one of the two most resilient states in the country.
Earlier , the Executive Director, Food Distribution, TGI, Mr Roy Deepanjan noted that about 80 per cent of the raw materials used by the company is sourced locally.
He added that the company was proud to be associated with the state.
