Ngba Digital Time

German Investors to Build N14bn Plant In Lagos

Voice of Nigeria

By Eniola Ajayi, Lagos September 19, 2015

German investors under the auspices of Knauf Group International have concluded plans to establish a 14 billion naira manufacturing firm in Lagos state, south west Nigeria.

This indication emerged when the German Ambassador, Mr. Michael Zenner led a group of German diplomats and investors on a courtesy visit to Governor Akinwunmi Ambode at the Lagos House, Alausa, Ikeja.

Representative of the Knauf Group International, Mrs Isabel Knauf who was part of the Ambassador’s entourage, expressed her company’s readiness to commence work on the manufacturing plant.

Mrs Knauf solicited the support of the Governor towards establishing the building and construction tools manufacturing company in Lagos.

The choice of Lagos

She said the preference for Lagos was informed by its proximity to ports, availability of gas pipeline and a ready market.

“We are looking to invest and build a factory here. We are looking for your support. We have been to Lekki Sea Port and want to proceed on investing straight off. I wish to express our interest in investing about 70 million US dollars (14 billion naira) in construction tools factory in Lagos for the first stage,” Knauf noted.

Increased German business

Ambassador Zenner, while canvassing for an increased presence of German businesses in Lagos, also sought for improved bilateral trade relations swith the State Government.

“We are here to introduce and express our interest in business and economic cooperation, especially on food processing and building materials. A lot of allied companies in Germany also wish to join hands in the investment drive of the Governor,” the ambassador added.

Lagos is ready

Meanwhile, Governor Ambode expressed his administration’s readiness to receive the investors, describing Lagos state as the economic hub of Nigeria and fifth largest economy in Africa, thereby making it investors’ first choice of destination in Nigeria.

 “As the economic hub of the country, we pride ourselves as the largest of the nation’s economy with the GDP of 131 billion dollars. For any German company that wants to do business in Nigeria, Lagos is your best bet. We are committed to the rule of law and we assure you of a safer and secured environment,” he said.

The Governor, who described the visit by the German envoy as the first by an ambassador, assured the delegation of his administration’s commitment to do everything possible to ensure a smooth take off of the project and sought to activate a state sister relationship with the city of Hamburg to further boost cooperation.

Account of stewardship

However, Governor Ambode has unveiled plans to commence a quarterly rendering of account of stewardship of his administration to the people of Lagos state on the journey so far as well as his plans to take the state to the next level.

The Governor said the quarterly rendering of account which will take the form of town hall meetings, will take the government to the nooks and crannies of the state to present its account of stewardship.

He said the town hall meetings would not only afford his administration the opportunity to render its account, it would also go a long way to feel the pulse of the people and get firsthand knowledge of their needs and concerns.

“The maiden edition of our quarterly report will be rendered in the first week of October and would continue in that tradition every three months going forward. At the end of each quarter, our government would report to the people of the state on the journey so far and the task ahead,” he said.

He said his administration’s efforts in the last three months have been geared towards making sure that public institutions work in the interest of the people, alluding to the fact that public institutions have been animated to measure up to the expectations of the people of the state.


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