Kidnappings Bane of Foreign Investors in Kogi State

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By Atabor Julius, Lokoja.

Kidnappings and oher violent crimes have been described as  factors  militating against the inflow of foreign investors into kogi state even as lack of consistent import policy, absence of duty waivers  and non availabilty of forex at the official rate to the investors were also identified as a potential disincentives  that hinders  foreign investors  from bringing their investment to the country.

This was disclosed over the weekend  in Lokoja by the Managing  director of West African Ceramics  Ajaokuta  Mr. P Bhaskhar  Rao during the 10th annual lecture of the Nigeria post newspapers.

He said insecurity of lives of workers especially the expatriates has been a great threat to  the survival of the already existed foreign companies in the state stressing that no investors worth its onion would want to invest in an environment where  the lives of its work force is under threat.

According to the managing director , the issue of incessant  kidnappings of foreign workers in the state has been worrisome , adding that unless the government at all levels step up campaign against violence crimes ,  the state will continue  to record low patronage from the foreign investors.who would want to bring their investment to the state

Mr. Rao hinted that the safety of workers is a key to the survival of the company saying that the West Africa Ceramics has complied with all the safety regulations as it affects the company.

“For instance an administrative staff in the office may not need helmet, a boot  or a life jacket, but a staff in the factory needed a boot, helmet and body jacket which we have provided.

“Safety of workers is our concern. Security will not be guaranteed in one day, and it is not about the police only. Only the police cannot do it alone. Let the people around you believe you and educate them.

“Some youths within our factory who used to steal before came to me , I offered them employment and they have now abandoned stealing and they are right now doing well.

“The society deserved the leaders they get at a particular time , the society need to educate its citizens with constant training and retraining and this is what we are doing at the West African Ceramics that has reduced crimes within our environment”  he advised.

He added that just like in the industry where cordial and mutual relationship between the management and its workforce is needed for smooth operations ,the state and the nation needed to foster cybernetic relationship with its citizenry to reduce social dislocations.

According to him the company which has employed hundreds of the indigenes of kogi state and with sales outlets in many states of the country have  99 percent of the raw material sourced locally while the one percent is forex dependent.

He urged the president Muhammadu Buhari to grant import waivers and allocation of forex to genuine investors in the country to enable them to be competitive in the global market.

“When we approach them for the forex to enable us to source our raw material from abroad , they will tell us that they dont know what we are doing with it.

“As a young company, you need import waiver and tax holiday , but we are constraint with the government policy of multiple taxation and lack of tax incentives. We are pleading with the government to assist the genuine investors to grow and be competitive as the foreign manufacturers has comparative advantage over them ” he begged.


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