Poor infrastructure, bane of industrial development – Rite Foods boss

Following the visit of the acting President, Prof. Yemi Osinbajo, to some industrial areas in Ogun State with the aim of ensuring that they comply with international standards, the Managing Director, Rite Foods Limited, Mr Seleem Adegunwa, has called on government to as a matter of urgency improve on the provision of infrastructures to industrial areas in the State.

Adegunwa who specifically mentioned epileptic power supply said the company was faced with challenge of power, as it was currently not connected to national grid but run on generators.

He said the expenses on power generation had eaten into the company’s bottom line, thus affecting its profit making.

He however said the company had continued to compete favourably in terms of product quality despite the economic challenge facing the country. His words “We have provided employment to over 1000 people directly and innumerable number indirectly.

Since the company berthed in this community, it has brought unprecedented economic growth to the area, and has also reduced crime rate.But with the power situation in Nigeria today, hardly will we be able to sustain the tempo.

He therefore tasked manufacturers in the country to imbibe the Nigerian spirit of hard work and entrepreneurship, and produce products of global standard. Also, the acting President, Professor Yemi Osinbajo while speaking with journalists after the tour of the company, allayed the fear of manufacturers on stable power supply, promising that the Federal Government was working at resolving the nagging issue of power.

He however commended the management of the company for producing world class products with locally sourced materials that could compete globally. The Acting President said he did believe there was a problem of trust for Made in Nigeria products.

He said he was proud of genuine local investors with high sense patriotism and Nigerian Spirit of hard work and entrepreneurship development. His words, “This is a great enterprise. The products are all over the country and are doing very well. I am very happy with what is happening here.

This is a classic example of a Nigerian spirit of hard work and entrepreneurship. This is excellent work and what we expect in every state.

The Acting President later attended the 7th edition of the Federal Government Nationwide Micro Small and Medium Enterprise Clinic, held cultural centre, Kuto, Abeokuta, where he highlighted some of the government’s policies on economic development.

Addressing small and medium scale businessmen in Abeokuta, Osinbajo disclosed that the Federal government would soon open a-one-stop shop for all the regulatory agencies in Ogun state to stimulate economic growth.