Jonathan lauds Oshiomhole for attracting investments to Edo

President Goodluck Jonathan has commended
Governor Adams Oshiomhole of Edo State for
attracting investments into the state, saying
the Governor is an investor’s delight.
The President gave the commendation
Monday during the commissioning of Presco
BioGas Power Plant Project at Obayantor,
Benin City.
Represented by the Minister of Industry, Trade
and Investment, Mr Olusegun Aganga, the
President said, “for any form of investment,
policies are critical, but the enabling
environment is far more important. I wish to
commend the government of Edo state, in
particular the Governor of Edo State, we heard
his comments when they said they needed
another 20,000 hectares of land, he said it is
available, come and get it.
Those are the sort of Governors that investors
want to work with. A Governor that is
dynamic, a Governor that understands the
economics, that understands the needs of the
people, that understands the importance of
investments in their states.
“I wish also to commend the people of Edo
State for providing the cordial atmosphere for
Presco to operate all these years and to
continue to invest in this state and in this
country. It is my hope that the cooperation
that has sustained Presco will be extended to
other industrial establishments in Edo State.”
Dr. Agangan assured that the Federal
Government will continue to partner with
states like Edo in its policy to bring about
results which Nigerians expect from
governance.
He added, “I also want to say thank you to the
Governor of Edo State, Comrade Adams
Oshiomhole for your kind support for Presco
Company in boosting the agro-allied industry.
It is a great honour for me to be here today for
the formal commissioning of this Bio-Gas
Plant.
“It is important to note that 10,000 Nigerians
are among the shareholders of this company.
So every penny they make and the dividends
they pay have a huge success in maintaining
these 10,000 Nigerians since 1991 when the
Company was established.”
He said, “This commissioning is coming at a
time when the country is in dire need to move
towards renewable energy, waste to power and
more importantly, energy for industrialization.
Most of us may not realise that one of the
advantages of the agro-allied sector is that
from the ways of producing most of this
things, we have to use adequate power.”
In his remark, the Governor of Edo State,
Comrade Adams Oshiomhole while
appreciating the Management of Presco and
the Federal Government in its Industrial policy
said, “Part of the problem of our democracy is
that we spend too much time talking politics
and very little time discussing the economy,
investment, wealth creation among others and
yet we know that the capacity of the political
class to bring prosperity to the people requires
that we generate wealth.
He said: “part of the challenge in the Nigerian
system is that the Nigerian party sytem does
not support businesses that require long-term
gestation. If you borrow at 20%, 22% or 25%,
it would be difficult to break even.
“When natiuons in Europe are lending at 4% to
6%, we lending at 20 to 25% is crazy and so I
appreciate those facilities that enable you to
access loans in single digit.
He said: “we need to do more to ensure that
there is policy coherence beyond what we see
in terms of what what we do as government
both at the federal and state levels. As you
know, trade has never been free, nation-states
must formulate policies that are informed by
their enlightened self-interest.
He said: Nigeria’s policy should come first
before that of West Africa and we do not have
to be apologetic about it. Our country should
be our centre-point, Nigeria should be the
primary purpose of trade policies, foreign
policies and diplomacy.
“A situation where we pursue policies that
support West African neighbours at our own
expense, those policies need to be reviewed.
We must not compromise jobs, we must not
compromise those industrial policies that are
designed to put Nigeria and Nigerians back to
work.”
He said the Federal must stop the practice of
granting waivers, saying “waivers are very
damaging to businesses. It distorts the level-
playing field, it confuses investors because the
rules are unclear and it creates corruption,
because the exercise of such discretion cannot
in any way be objective.”
Oshiomhole said, “I want to congratulate the
management of Presco for demonstrating
practically your confidence in the economy of
Nigeria by making long term investments.
Also, by your actions, making a bold
statement that Edo State is the safest place
across the country for investors to come.
“Our people are friendly, they are hardworking,
they are creative and as former labour leader,
I can boldly say that Edo people are the most
productive of all the working people in
Nigeria.”
He urged the Management of Presco to
continue to demonstrate their confidence in
the state by expanding their facilities and
assured them of Government’s support in
providing the necessary incentives that they
need to continue to expand.
Earlier in his address of welcome, the
Managing Director, Presco Company Limited,
Mr Uday Pilani thanked Edo State Government
for providing the enabling environment for
Presco to carry out its activities.
The Governor later commissioned the Presco
Biogas Power Plant which generates electricity
from the waste generated from the oil-palm
company.