Osinbajo
spoke at the commissioning of Petrolex
Oil and Gas’ Mega Oil City, a 300million-litre capacity tank farm in
Ibefun, Odogbolu Local Government Area of Ogun State. The mega ultra-modern oil
city is the brain child of Segun Adebutu,
son of the business mogul, Sir Kesington
Adebutu.
Osinbajo
recalled that “the cheery news” came from the World Bank over a month ago, when
it adjudged Nigeria as “one of the tenth improved economies in the world.”
Osinbajo,
who described the project “as of special significance and testimony to the
power of vision,” said the tank farm will reduce the pressure on the Apapa tank
farms, and ease the gridlock on the Apapa Expressway. He expressed optimism
that the project would not only help the Federal Government’s target of
reducing fuel importation to 20 per cent by 2019, but also improve retail
distribution across the country.
The
Vice President said President Muhammadu
Buhari led government believes “industrialisation is key to achieving
economic development growth, and creating jobs for millions of Nigerians.”
His
words: “But perhaps of greater importance to the future
of our national economic objectives is that this facility, again, bears out a
philosophical plan of our economic recovery and growth plan, which is that
private capital must lead Nigeria’s economic revolution and this is right.
Private sector is the nation’s major economic source, and also the primary
business of government is to create the environment that enables commerce
thrive unhindered.
“Importantly also is the fact that significance of local investments
such as this, send the strongest possible signal to foreign investors that not
only is the government safe, but Nigeria is indeed investment designation in
Africa.” (Guardian)
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