12th August, 2022
By Ismaila Yusuf Chafe
President Muhammadu Buhari has reassured Nigerian entrepreneurs, saying the huge growth experienced by conglomerates like BUA Group is evidence of the correctness of his administration’s policies.
He stated this when he received the Management of BUA Group at the State House led by the Chairman, Abdul Samad Rabiu, on Friday in Abuja.
According to him, entrepreneurs and the business community, whose investments align with the priorities of the government in value and job creation will continue receiving the full support of his administration.
Buhari said that the government’s focus on import substitution encourages local production and export, and stimulates growth and stability, urging investors to take advantage of the vision.
“Let me assure you and the entire business community that this Government remains ready, willing and able to support all well-meaning Nigerian entrepreneurs.
”They include those whose investments align with our import substitution and domestic job creation policies and programs,’’ he said.
Meanwhile, Buhari commended the Chairman of BUA Group for concentrating investments in the country and transiting from trade to manufacturing.
“I am impressed and proud of the transformation BUA has made from a trading concern to a manufacturing conglomerate. A key pillar of our administration’s policy thrust is import substitution especially when it comes to essential items such as food, household consumables and shelter.
”A nation of our size and with our natural and human resources is exhibiting its weakness if it continues importing essential commodities.
“For every grain of rice, wheat or maize we import, we destroy the livelihoods of our local farmers while creating jobs abroad.
”It is because of this that seven years ago, our Government introduced numerous laws, executive orders and incentives that support businesses with import substitution projects,’’ the president said.
“In the medium term, our hope was to see Nigerian companies expand their production expertise and capacity to other African nations helping them to also achieve their food and economic security goals.
”In the long term, our desire is to create a peaceful and prosperous continent with its young and talented population feeding, clothing and housing themselves.
“Today, through the BUA story, it is clear that we are on track! The company has continued to invest in domestic production and processing leveraging our local raw materials and youthful talent.
“It is always heartwarming to see and learn of Nigerian companies doing so much within Nigeria. Most of this phenomenal growth was achieved during this administration,’’ he added.
The president said that the successes recorded by entrepreneurs and the business community, like BUA, were “clear testaments to the correctness of our programs and policies.
“We have also seen similar successes, especially in the food and agro-inputs value chain,’’ he said.
”On behalf of the Nigerian government, I want to thank you for your patriotism,” Buhari added.
In his remarks, Alhaji Rabiu said the BUA Group is very mindful of where it was at the advent of the Buhari administration, and the giant strides it has taken today.