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| Ododo delivery his speech during a inauguration Credit:Vanguard |
Kogi State Governor Ahmed Ododo has said President Bola Tinubu’s economic reforms are creating conditions for increased industrialisation and private-sector investment across Nigeria.
Ododo made the assertion on Sunday in Lokoja while inaugurating the Confluence Lube lubricant blending and packaging factory established by Godec Power Nigeria Limited along the Ganaja-Ajaokuta Expressway.
The governor said the new facility represents an important addition to Kogi State’s industrial development, with the investment expected to support employment and expand productive economic activities.
According to Ododo, Nigeria is gradually regaining its economic strength under the Tinubu administration, while growing private investment demonstrates confidence in opportunities available within the country.
Turning to Kogi, the governor said the state would realise more of its economic potential when businesses commit resources to ventures that process products locally, create jobs and contribute directly to surrounding communities.
He praised the Managing Director and Chairman of Godec Power Nigeria Limited, Chief Okechukwu Obika, for choosing to expand the company's operations in Kogi. Obika also serves as Vice President of the Igbo Community in the state.
Ododo said the company's investment was particularly significant because the factory produces engine oils and plastic containers while providing employment for residents.
He stressed that his administration would continue to encourage investors interested in adding value within Kogi instead of taking raw materials out of the state without generating corresponding economic opportunities for its people.
The governor said his broader objective was to help develop a private sector with the capacity to employ significantly more people than the public sector.
As part of measures to support the new investment, Ododo announced a three-year waiver on selected annual levies payable to the state government by the company.
The affected charges include the Land Use Charge, Environmental Levy, Business Premises Annual Renewal, Fire Service Levy and Economic Development Levy.
Ododo assured existing and prospective investors that his government would continue supporting businesses operating in the state.
He argued that Kogi's strategic location, natural resources and human capacity position it to develop into a major industrial centre in Nigeria.
Speaking at the inauguration, Obika said Godec Power Nigeria Limited began operations in 2001 as an electricity trading business before expanding into several other sectors.
According to him, the company has diversified into lubricant production, plastic recycling and manufacturing as well as cargo tricycle assembly.
He said the newly inaugurated Confluence Lube facility currently manufactures engine oils for petrol and diesel engines, transmission oils and plastic containers.
The company also plans to expand its product range to include hydraulic oil, brake fluid, transformer oil and grease.
Obika said the company's operations have so far generated 100 direct jobs and more than 200 indirect employment opportunities.
He projected that the figures could increase to more than 300 direct jobs and about 1,000 indirect jobs when the facility reaches full operational capacity.
Kogi State Commissioner for Commerce and Industry, Muhammed Shuaibu, also reaffirmed the government's commitment to cooperation with investors and host communities.
Shuaibu said such partnerships would remain important to the state's efforts to stimulate economic development and promote broader prosperity.
With the new factory now inaugurated, the Ododo administration says it intends to continue attracting private investment while encouraging companies to establish productive operations that create jobs and add value within Kogi State.