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Saturday, June 22, 2024

FG promises business owners adequate support amid economic challenges

By Monsurudeen Olowoopejo

The Federal Government through the Ministry of Industry, Trade and Investment, has reaffirmed its commitment to support business community to wade through current economic difficulties, ensuring an environment where industries can continue to thrive.

It said that the support was to ensure that while they remain in business and expand, the country’s Gross Domestic Products (GDP) can also be boosted effectively.

The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, gave the assurance on Monday during a meeting with Nigerian Breweries in Lagos.

During the meeting, Uzoka-Anitea addressed the recent temporary suspension of operations at two plants and discussed the company’s comprehensive Business Recovery Plan.

Aside from that, the meeting also acknowledged challenges faced by the communities in Awo-Omamma in Imo State and Kakuri in Kaduna State due to these suspensions.

She expressed the President Bola Tinubu administration’s commitment to sustaining industry and manufacturing and emphasized initiatives such as the Consumer Credit Scheme to boost purchasing power, sector-specific interventions in power and agriculture to reduce production costs, and ongoing dialogue for financial reporting with the Financial Reporting Council.

“The administration of His Excellency President Bola Ahmed Tinubu, GCFR, is dedicated to creating a stable and conducive business environment. Rest assured, things will keep getting better”, the minister added.

Earlier, the Managing Director, Nigerian Breweries, Hans Essaadi, stated, “We have existed for almost 78 years and have weathered many storms in the past. We believe our Business Recovery Plan will ensure that we exist for another 78 years.” The Minister praised the resolve and adaptability of Nigerian Breweries and assured continued engagement to assist in their recovery efforts.

The Ministry and Nigerian Breweries have pledged to maintain an open dialogue to address the needs of the sector and ensure robust economic health for the nation.

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