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FG Vows To Alleviate Foreign Exchange Pressure

Daud Olatunji

The Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite,  has declared that the Federal Government has intensified efforts to find lasting solutions to address the challenges posed by foreign exchange pressures.

The minister said this on Tuesday, during the commissioning ceremony of two new factories and the expansion of the Tropical General Investment Group (TGI) held at the Sagamu Interchange, Ogun State.

Dr. Uzoka-Anite emphasised the government’s dedication, asserting that President Bola Ahmed Tinubu’s administration will actively promote industrialization and mobilize resources to stimulate economic recovery. 

She highlighted the government’s commitment to eliminating impediments hindering business growth within the country.

“The challenges of unemployment, foreign exchange pressure, and economic diversification are focal points for President Bola Ahmed Tinubu.

 “Conclusively addressing these issues is paramount, and our focus on manufacturing and value chain addition is crucial for national development,” she stated.

Ogun State Governor, Dapo Abiodun, lauded the progress showcased by the TGI Group as a testament to the state’s positive trajectory. 

Recognizing the group’s corporate social responsibility, Governor Abiodun emphasized the importance of community engagement for overall development.

“I want to thank the TGI Group because you are a classical example of the success story of Ogun State, a reference point industry, a shining example of foreign direct investment in the country,” he expressed. 

The governor also credited the state’s improved economic standing and resilience to effective governance.

Affirming his commitment to fostering a conducive business environment, Governor Abiodun announced ongoing infrastructure development initiatives, including the Agro Cargo Airport. 

He anticipates that  these measures will encourage more companies to thrive in the state.

In his welcome address, Mr. Roy Deepanjan, the Executive Director of Food Distribution at TGI, highlighted the company’s strong reliance on local raw materials, expressing pride in the association with Ogun State, where the majority of their materials are sourced.

 

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