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Adebayo Assures Investors Of Govt Support

Ololade Omosan-Agie

Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo has assured investors of the willingness of the federal government to support their investment to ensure they get returns.

Speaking while welcoming a team of investors from Axxess Group led by Mr John Olajide to his office, Adebayo said a technical team from his ministry would meet with them to provide the necessary guide, including incentives already put in place to ensure the success of their investment.

He noted that it is the desire of the FG to support investors to ensure a smooth take off of their investment, pointing out that a lot of incentives have been put in place by the government which they can benefit from.

Earlier, Olajide has disclosed that the group which included some foreigners would want to go into large scale cassava farming and processing for both domestic consumption and export.

According to him, the group would be investing $14.2 million in the project expected to be carried out in Ekiti State with about 3,600 hectares of land cultivated. Also billed for the state is the flour mill of 60 tons/day for an annual capacity of 18,000 metric tons.

He put the total estimate of the industrial mill to be established in the state at $7.2million. The amount covers building/roads; civil works; housing; effluent handling; working capital; and installations.

He listed the project funders to include US Development Finance Corporation; Us EXIM bank; African development bank; International Finance Corporation, E$uropean Development Finance Institutions, Central Bank of Nigeria and some commercial banks.

At the completion of the project, Olajide said it would provide 5,350 direct jobs and 10, 950 indirect jobs.

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