The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo yesterday said the Federal Government will back foreign investors in the country.
He also said the new $600million steel plant in Kaduna State will help to lift 100million Nigerians out of poverty.
Adebayo gave the assurance while inspecting the steel plant, being built by African Industries Group(AIG) in Jere, Kagarko Local Government of Kaduna State.
He said: “From what I have seen so far, I must say that I am very impressed, I am happy that this is the sort of investment that we at the government like to see, I am happy with the number of people that will be employed.
“As you are all aware, the wish and desire of President Muhammadu Buhari is to lift 100million people out of poverty over the next 10 years and these are the kinds of things that will assist in that regard. When people get employment, they get paid salaries and they are able to help their dependants. This project will go a long way in that regard.
“We as a government are desirous and willing to assist all serious industrialists. All the people that are serious about investing in Nigeria, we are here for them.
“We will within the laws of Nigeria do everything possible to assist to make sure that they are able to bring everything on track.
“This will be my first time here but it will not be the last because I intend to come back as many times as possible until the project is finally completed and start to produce.
In his address, the Group Managing Director, African Industries Group, Mr. Alok Gupta, said the $600million steel plant will provide jobs for 3,000 Nigerians.
He said the project will also bring in significant savings in foreign exchange by import substitution.
“Most importantly we will be employing over 3000 people and benefit the lives of many more. Our 600 million US$ investment will be the largest non-oil FDI in the country and should encourage other mining industries to explore similar projects in the future.”