• Monday, May 20, 2024
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Firm targets $100m investments as Buhari promises investors friendly policies


President Muhammadu Buhari on Thursday promised that administration will continue to implement policies that attract investment and spark competition in critical sectors of the economy for employment creation and growth, as LADOL said it has concluded plans to attract $100m investment into Nigeria

The President who was speaking when he received the Chairman and Management of the LADOL Integrated Logistics Enterprise on a courtesy visit, at the Presidential Villa, Thursday commended the company for taking full advantage of the pro-business policies put in place by his administration and aimed at bringing domestic and direct foreign investment which are yielding prosperity to the people of the country.

“Your competitive and aggressive activity has brought you success. I am pleased that you investing in a critical area, the oil industry, in which I have developed interest.  I am happy you are training Nigerians and giving them respectful jobs.  What you are doing shows that whoever tries will succeed.”

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The Chairman and Chief Executive of the company, Oladipo Jadesimi said they had come to thank President Buhari for creating an enabling environment and anti-corruption regime that have enabled their business to create a 10 billion Dollar investment and 50,000 new jobs.

On her part, the Managing Director, Amy Jadesimi, informed the President that their investment had a mission to attract local and international companies that will help reduce the cost of off-shore support services.

According to her, “policies initiated by this government by abrogating monopoly, thereby allowing IOCs (International Oil Companies) to use any facility in Nigeria, yielded immediate positive result for the Nigerian economy by reducing costs by 50 percent.”

She said that in the near future, seven more FPSO (floating production storage off-loading) units will be built in Nigeria, bringing USD 100 billion investment, thousands of jobs and a diversification of the economy due to 70 per cent local content.

The Managing Director expressed the determination of LADOL to turn Nigeria into a hub for logistics and heavy lifting in the sub-region by providing non-stop, 24 hours, seven days a week support services in the Lagos area.


Tony Ailemen, Abuja