The Minister of State for Mines and Steel, Dr. Uche Ogah, has hailed a China-based industrialist, Festus Mbisiogu, for establing a manufacturing factory in Imo, noting that the country’s economy can only improve through local production of what is consumed in the country.
He further urged other Diaspora businessmen to emulate Mr. Festus Mbisiogu, the CEO of Shanghai Engineering Works and Industrial Limited, who established a multi-million Naira factory in Ubomiri, Mbaitoli Local Government Area of Imo State.
The factory, Ogah said, would not just save the country’s foreign exchange used in importing building materials, but will also create employment for the teeming youths of the state.
Ogah said this at the weekend during the commissioning of the multi-million Naira building material production complex, noting that the actions of the China-based businessman is in line with the Federal Government’s resolve to achieve self sufficiency through local manufacturing of materials needed in the country.
“Festus Mbisiogu has done the needful by doing what he has done by establishing this multi-million Naira building materials factory in this Ubomiri community.
“This industrial milestone is good for the community and Imo State which is in tandem with the policy of the present administration.
“This factory, which will be producing quality building materials, will not only save the country foreign currency used for the importation of building materials and allied products, but will also create employment for the teeming youths of the state.
“It is for the same reason that the Federal Government is also striving to ensure that the steel sector is revived”, Ogah stated.
