FG assures commitment to support investors, entrepreneurs

Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the Federal Government is committed to supporting local investors, entrepreneurs in the country with necessary assistance.

Oduwole disclosed this during a tour of the electric assembling vehicle plant by Saglev in Lagos, adding that the government would ensure the trade facilitation process is easy for investors as an important aspect of developing any economy.

Oduwole highlighted that the Nigeria First Policy of President Bola Ahmed Tinubu was aimed at supporting investors; hence she was focused on Nigerian investors and putting them first to ensure they survive.

“This is my first time in this capacity, visiting an EV plant and just to see the dexterity, the range of products available, this is affordable, this is sustainable, this is what can jumpstart our transportation, logistics, businesses.

“From a business perspective, the affordable vehicles under 20 million naira, there are also credit opportunities, and so that’s another thing that young Nigerians can look at. We talked about the transportation business, Uber drivers, Bolt and how they can lease vehicles like this, and they have the track record through technology to prove to their banks.

“We import and we also are leading in exports, particularly to the rest of Africa. So, with trade facilitation, we continue to work. The Nigerian Customs Service (NCS) has implemented several reforms,” she added.

Chief Executive Officer, SAGLEV, Dr Sam Faleye, stated that the assembling plant can assemble 2500 electric vehicles yearly, adding that the company still struggle with challenges of importation of parts.

“I am not a critic of the government because I just don’t do it if it is not productive. I want to focus on the positives,” Faleye said.