The Special Adviser (SA) to the President on Trade and Investment, Mr. John Uwajimogu, has reiterated the efforts of the Federal Government to ensure steady power supply to encourage business growth and attract investment.
Uwajimogu assured that the president would not trivialise the urgency required in fixing the terribly damaged Eleme-Onne-Ogoni sections of East-West road to save the government critical investments in the area.
He spoke during stakeholders’engagement during a visit/familiarisation tour of Oil and Gas Free Zone Authority (OGFZA) and its facilities in Onne, Eleme Local Government Area of Rivers State.
He observed that poor power supply is bane of investments; saying that the government is making efforts to change the narrative.
“Power is a critical infrastructure. It’s the lifeblood of the economy. It drives industry, it drives every sector. It’s a common problem.
“It’s a national problem, and it’s one that the administration is tackling from a broader scale to ensure that uninterrupted and reliable power is provided, particularly to key sectors and priority industries that have that multiplier effect and of which Onne area is a priority area with multiplier effects.
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“I’m sure over the next coming days you will start seeing the results of some of the initiatives that is being deployed by the President.” he said.
He expressed President Tinubu’s passion in growing the economy using trade, among others.
He said: “One of President Bola Tinubu renewed hope agenda is industralisation and trade facilitation. Trade facilitation in creating a very robust domestic market and these pillar are keys in economic transition.”
“We are in a period where there is a lot of transitions. As much as there is energy transition, there is also transition in supply chain, for instance the Russian Ukarain war has shown what happens when there is no strong local production capacity. “
Speaking on the deplorable stste of Ogono/Onne /Eleme axis of East/West road as it concerns FG multimillion dollar businesses in the area, Uwajimogu said;
“Since my visit, not only have I experienced it, the Authority has commissioned a drone and aerial view footage of the road And as I go back, I’m going to write a comprehensive report that will be sent to the president because, again Onne is too important given the existing investments that have been committed to this area.
“It is too important for it to not be prioritised and that road is very key, because not only is it enabling the inflow of goods, but it’s an access to markets, it goes from what I understand all the way through Akwa Ibom to Delta and it is an access to other markets. So it is a very critical infrastructure and again, it is a federal road and a very critical infrastructure that deserves that attention.
“While I cannot tell you, that is going to happen today on tomorrow, but where we are is we don’t have time, we have to move very quickly, and I can assure you that it will get the attention of President Bola Tinubu ‘s administration. ” he insisted.
Explaining further, the visitor recalled how President Tinubu when he was Governor of Lagos State changed the narrative of once acclaimed terribly flooded area of the state and upgraded it into a route, pathway to highbrow areas of the state.
“Any of you have ever been to Lagos, and you know Ahmadu Bello road where bar beach is. If you go on the internet, take a look at what that place looked like prior to 1999 and look at what it looks like today. Ahmadu Bello road used to be a liability to Lagos states. And at that point, they used to put rock boulders to keep out the water that used to overflow, until his Excellency President Obasanjo visited Lagos and His Excellency, Bola Ahmed Tinubu asked for that area to be given to Lagos state.
“I recognise and how you can turn this liability into a potential, right; and today, the most expensive real estate is what we call Eko Atlantic and that road is now a dual-carriage road that is enabling the free flow of traffic to other parts of Lagos.”
So what I’m saying in essence is, you have a president who understands how government can enable business and how government can look at infrastructure and turn it as an engine of growth. He has done it in Lagos, he has done the Lagos free zone, Lekki free zone in Lagos.
“He understands the situation that we’re in, quite frankly, we’re at a point where we don’t have flexibility anymore to talk, but just to do action.” he assured.
During a power point presentation on the Federal government Agency (OGFZA) earlier, the Managing Director Sen. Tijjani Kaura, through a staff of the Authority had disclosed the agencies business expansion plan projection to the tune of $15.97 billion by 2025.
The agency was established in 1996 to regulate the activities of businesses and investments in Oil and Gas Free Zone.
According to the presentations, the Authority has established eight other OGFZs since its establishment 27 years ago.