As a result of the very friendly business environment in Ekiti State, Promasidor Nigeria will commit to more investment in the Southwestern state.
This was disclosed by the Chief Executive Officer, Promasidor Nigeria, Mr Bruno Gruwez in an exclusive interview with Nairametrics at the Ekiti Fountain Summit in Adi-Ekiti, Ekiti State on Thursday.
The maiden edition of the Ekiti State Economic Development & Investment Summit also known as Fountain Summit 2021 tagged, ‘Investment Attractiveness and Economic Development – Lessons for sub-national’ was organized by the Governor Kayode Fayemi-led administration of Ekiti State to position the state as an attractive destination for investors.
What Promasidor CEO is saying
Gruwez who was quite impressed with the efforts of the administration of Governor Kayode regarding attracting investments said that Promasidor hopes to remain a partner in the economic development of the state.
Speaking on the future of the relationship between Ekiti State and food and beverage giant, Gruwez said, “Promasidor is an investor already in Ekiti State with our investments on Fountain holdings.
“We partnered with them and set up a farm which is a backward integration investment into dairy and producing milk. We started last year and we have now started to produce milk this year.
“At the end of this investment, we will be producing 10 million litres of milk every year.”
Gruwez went on to express his satisfaction with the government of Ekiti, adding that his company will continue to broaden its investment in the state in the coming years.
“It’s a long term project and we are continuing to invest, and in about 5 years we will have a fully functioning farm, maximising production and then we will look at further backward integration with them.
“I think it’s a journey that the Governor is on and his administration has been very business-friendly. We have had a very good experience and we are looking forward to continuing working with them and to continue to invest further,” he said.
What you should know
It would be recalled that Vice President, Prof. Yemi Osinbajo declared open the Fountain Summit in Ekiti State on Thursday, October 14, 2021 at the Civic Centre, Ado Ekiti.
The Summit was headlined by Governors Nasir El Rufai, Babajide Sanwo-Olu and Godwin Obaseki of Kaduna, Lagos and Edo States, respectively, amongst other dignitaries, investors and stakeholders in the State.
In case you missed it
- While delivering his keynote speech, Osinbajo encouraged states to embrace a knowledge economy, especially with the growing population of young men and women.
- The Acting Executive Secretary/CEO, Nigerian Investment Promotion Commission (NIPC), Mr Emeka Offor, assured the Ekiti State government of the Commission’s support to drive Responsible, Inclusive, Balanced and Sustainable (RIBS) investments to the state.
- Speaking on the sideline, the Special Adviser to President Muhammadu Buhari on Social Investment, Mariam Uwais tasked state governments across Nigeria to ensure policies around social investment and security are sustained, whether or not there is a change in government.
- In an exclusive interview with Nairametrics, the Ekiti State Governor, Dr Kayode Fayemi revealed 5 actions that the government is taking to transform Ekiti State into an economic hub for investors.