African Reserves

Buhari: Our job creation, economic diversification policies are working

According to him, the inauguration of the cement plant is an indication that the federal government’s policies on economic diversification, job creation and creating an environment conducive to business prosperity are working.

He described the factory as the largest employer of private sector labor in the northwestern part of Nigeria.

The president told that in 1985, when he was the head of state, he was in the same place to commission the 2nd line of the installation.

“Today, almost 37 years later, the commissioning of the fourth line is a very special day for me personally.

“As you all know, one of the main economic pillars of our administration has been to create an environment conducive to business prosperity.

“It’s necessary for job creation and, in fact, for our economy and our national security.

“Over the past few weeks I have visited Ogun and Kaduna State where I have witnessed many private sector investments in action. And today I am here in Sokoto to commission this project of several billion naira.

“So it is very clear for everyone to see that our policies are working. Progress is gradually being made in all regions of the country,” he said.

He thanked the Founder of BUA Cement, Abdul Samad Rabiou and the entire team for the excellent work they are doing to support the government’s economic diversification and job creation program.

According to the chairman, the company has completed four new cement plants of similar capacity over the past five years in different parts of the country and is expected to complete two more soon.

This, he said, showed through these investments that they believed in Nigeria and its potential.

He commended the BUA and other contractors for making Nigeria self-sufficient in cement and a net exporter of the strategic product.

“I am pleased that through these investments, BUA Cement has created employment opportunities for our citizens. Today, BUA is the largest employer of labor in the North West region.

“I always remind Nigerians that every region, indeed every state in Nigeria has huge reserves of resources.

“For example, in this area, Kebbi, Sokoto and Zamfara can boast of rice production, development of gold and other precious metals and of course, heavy industries like cement manufacturing.

“As a government, we have policies and mechanisms in place to support these investments in a legal, ethical and inclusive manner.

“For example, we have the National Food Security Council on food security issues and the Presidential Artisanal Gold Mining Development Initiative to develop gold mining by local artisans and ensure the health and safety of mine workers and protecting the environment.

“We remain ready to help serious investors build businesses that will take advantage of these opportunities through value addition to take advantage of the huge market here, as well as in the greater African region and the world at large.”

He highlighted other efforts to bring equal development to all regions of the country.

The President expressed confidence that the Ajaokuta-Kaduna-Kano (AKK) gas project, when completed, would bring gas for domestic and industrial purposes from the south-south region to the southeast, central geopolitical areas -north and northwest.

He said the AKK project will significantly reduce the cost of operations for industries in the regions.

He also reassured Nigerians that his government would continue to invest heavily in roads and railways to facilitate the movement of people, goods and services, with a view to facilitating trade while reducing logistics costs. associated with inefficient poor roads and bridges.

On security, Buhari reiterated his commitment to bring peace and stability to all parts of Nigeria, listing a series of measures taken by this administration to ensure the return of normality in the country.

“We continue to recruit and equip security personnel while expanding our social investment programs to support young people and some of the most vulnerable members of our communities.

“You should all be reassured that we will win this battle against the criminal elements who seek to destabilize our nation by impeding the progress of our economy.

“I now want to call on all entrepreneurs and businesses to emulate what is being done here.

“The task of nation building requires everyone to be on deck. The public and private sectors must work together if we are to achieve our goal of collective peace and prosperity across the nation.

The Chairman of BUA Cement, who praised the President for creating an enabling environment for business to thrive, acknowledged the support of the Central Bank of Nigeria (CBN) and its Governor in bringing this massive project to fruition.

He announced that, “So far, we have invested over $1 billion over the past four years and we urge CBN to continue supporting industries like ours that use locally sourced raw materials to add value. .”

He pledged that the BUA would continue to invest more in the cement industry until Nigeria becomes self-sufficient and the product is made available, accessible and affordable for all Nigerians.

“Over the past six years, we have completed four factories – two in Obu, Edo State and two in Sokoto (of which this Sokoto four line is the fourth) with BUA’s total production capacity rising now at 11.5 million tonnes with the completion of this plant.

“Next year, we intend to complete the construction of two new factories of three million metric tons each for which construction is underway – one in Edo and the other here in Sokoto.”

Rabiu said he looked forward to the president commissioning the plants next year, which would bring the total production capacity to 17.5 million metric tons.