Sunday, 22 July 2012 00:00

Not less than 250 local and foreign exhibitors are expected at this year 2012 edition of Oil and Gas trade and investments forum, the Chairman Organising Committee, Mr. David Adejuwon, has said.

Mr. Adejuwon, who is the Director (Trade) in the Federal Ministry of Trade and Investment, stated  that the mandate of his committee was to organize an international Trade and Investment Forum on Oil and Gas to showcase the success story of the Onne Oil and Gas Free trade Zone to attract more investors  both locally and internationally.

The Chairman said that the Committee had inspected facilities that will be put in place for the Forum. Also, a lot of activities have been identified; timeline and assignment responsibilities to various organizations that will midwife the success of the event had been outlined.

Adejumo said his committee will mobilize over 150 investors operating in the zone and investors from Middle East, Europe, America and all over the world for the forum,  adding that over 4000 square meter space has been made available within the Onne Free Trade Chairman of Nnewi Chamber of Commerce and Industry over this matter and they will submit their list to me within the next one week.

Also, the Anambra State governor is doing the same thing as well the Manufacturers Association of Nigeria. Once we complete the process, nobody will be allowed to import those things we produce into the country, especially those items that we have comparative and competitive advantage.”

Aganga,  also said that the Federal Government was planning to review the country’s public system to give more opportunities for Nigerian companies to in line with his ministry’s Industrial Revolution Plan.

He said, “Other countries across the world have preferential treatment for goods that are produced in their countries. In Nigeria, if two companies apply to supply a product, if one is producing that product and the other is importing it and the price differential between the company importing the product and the Nigerian company producing it is 15 per cent, then the contract will go to the Nigerian company.

This is already part of our regulation.

“But what the President has directed us to do is how to review the 15 per cent differential to give Nigerian companies more opportunity in other to increase their productivity and create jobs for our people. This is owing to the constraints that we have now as regards cost of producing goods in Nigeria, which has increased to about 30 per cent because of additional cost of electricity.”

Speaking during a courtesy visit at the Government House Awka, the Governor of Anambra State, Mr. Peter Obi, said that, given the high concentration of industries in Anambra State, the state government would partner the Ministry of Trade and Investment to provide a conducive environment to fast-track industrialization in the state.

“Anambra State has the highest concentration of industries in Nigeria. So, we will work together with the Ministry of Trade and Investment to provide the conducive environment to support industrialization,” Obi said.