THE United States Government has renewed its confidence in the Nigeria’s economy with the opening of Procter& Gamble (P&G) $300 million (about N4.8 billion) new plant in the country
The new plant, which is located in Agbara Industrial Estate, Ogun State sits on 40.2 hectares of land after its Ibadan plant in Oyo State.
The Greenfield investment represents American largest investment in Nigeria outside the oil and gas industry.
President Goodluck Jonathan congratulated P&G on the opening of the state-of-the-art plant and commended the firm for its dedication towards the country as exemplified by the investment in the new plant.
President Jonathan, who was represented by Vice President Namadi Sambo, said the government would continue to support industries through the removal of investment barriers.
He added that the goal of his administration is to ensure efficient coordination of investments by relevant government agencies, a development which made it to embark on a comprehensive tax reform in a bid to eliminate double taxation.