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Published On: Fri, Nov 29th, 2019

Industry Minister commissions N1.5bn Asaba roof tile plant

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By Miriam Humbe

Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo on Thursday commissioned a modern roof tile manufacturing plant in Asaba, Delta State.
According to a statement issued by the Minister’s Special Assistant on Media, Mr Julius Toba-Jegede, the plant owned by Wichtech Industries Ltd, is worth about N1.5 billion with a capacity to create over 10,000 direct and indirect jobs for Nigerians.
The Minister commended Dr Wilson Chidozie Nwankwo, Chairman of the company and his team for supporting the Federal Government’s industrialization dream and diversification of the economy and expressed hope that the initiative would help develop the building materials industry in the country and position the economy for better competitiveness.
He said “The commissioning today is in line with the President’s agenda to fast-track the the Nigerian Industrial Revolution by creating avenues for more Industries.
“ It will also support the growth of Micro, Small and Medium Enterprises (MSMES), in order to create new jobs and opportunities for more Nigerians.
“More importantly, it will accelerate both domestic as well as foreign direct investment in Nigeria, by creating an enabling environment for more Nigerian businesses to succeed.
“The N1.5 billion investment in Asaba is a glaring example to other businesses and investors that Nigeria is indeed open for business”.
He said the new plant would also bring an end to the mass importation of high quality roofing tiles into the country.
“It is gratifying to note that WICHTECH Industries has endured that the high quality roofing tiles that are usually imported will now be manufactured locally in this factory in Nigeria.
“ This giant stride is part of this administration’s ‘Made in Nigeria’ policy thrust.
Nwankwo in his remark said the company incorporated as a trading venture 24 years ago now has branches across Nigeria.
“ Wichtech is currently building another factory in Shagamu, Ogun State for the production of electric power cable and wires, all of copper and aluminium for both domestic and industrial uses.
“The company currently has a network of more than 200 partners and agents in the six geopolitical zones of the country.
“Witchtech is trying its best to contribute its own quota to the economic well-being of the country,” he said.
He however appealed to government to help address issues of high bank interest rate, high import duty on imported materials and multiple taxes payable to all governments at various levels.

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