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Expect harsh economic policies

President Goodluck Jonathan has said the Federal Government would take hard decisions in its bid to move the economy forward.

He, however, assured that government would protect local manufacturers from dumping and would also support them with incentives like waivers.

Speaking at the official commissioning of the May and Baker Pharma Cenre in Sango-Ota, Ogun State, the President said: “Government will take hard decision that will create some inconveniences, but bear with us.

“The private sector will play a key role. We will take hard decision that will appear painful to the ordinary people, but in the long run, it will be for the good of all.

“We cannot  talk of achieving Vision 20: 20-20 if we continue to import most of our industrial needs. We will create an enabling environment by tackling, the power challenges.

“Nigeria will no longer be a dumping ground for all sort of products. That’s why we take time in selecting our economic theme for building a strong economy.”

The President said that Nigeria would no longer be a sleeping giant. He cited China and Uganda as examples of countries which, he said, shut their doors on importation.

He said: “Those hard decisions will affect importation of products.” He promised to use the next four years to work in ensuring that irritating investment environments were addressed.

The President commended the efforts of the management of May and Baker, adding that other companies should emulates them.
The chairman of the company, General Theophilus Danjuma, who described May & Baker as the country’s leading pharmaceutical company, told President Jonathan that the company currently has 800 staff on its payroll.

Danjuma also stated that the company was in the process of obtaining the World Health Organisation’s global regulation certificate and assured that it would continue to meet and promote global standard.

Ogun State Governor, Senator Ibikunle Amosun, in his address, assured local manufacturers in the state that his administration would do everything humanly possible to encourage them.

“We shall assist her to recoup part of the investment with viable and encouraging incentives.  This also applies to other organizations that have invested or planning to invest in the state. We will do everything possible to support your business and investment aspiration.”

“Members of the Organized Private Sector (OPS) would soon be invited to a round table conference to agree on the various ways in which we can give this support.

“We must realize that government alone cannot should the responsibility of wholesome development. We must find ways of encouraging private partnership for the development of our dear state.”

He urged the people of the state especially host communities, to provide the necessary support and co-operation for the expansion of both public and private investments in their communities.

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