Promasidor commends Ekiti State for being investment-friendly
The Chief Executive Officer, Promasidor Nigeria, Mr Bruno Gruwez has commended Dr. Kayode Fayemi, Executive Governor of Ekiti State and the people of the state for being investment-friendly. He gave the commendation at the maiden edition of the Ekiti State Economic Development & Investment Summit also known as Fountain Summit 2021 with “Investment Attractiveness and Economic Development – Lessons for Sub-National” as its theme.
According to the business guru, because of the business posturing and friendly business environment in the state which is championed by Governor Fayemi, Promasidor has demonstrated its confidence in the administration by investing in a farm in the state.
“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 milk production this year. At the end of this investment, we will be producing 10 million litres of milk every year.”
The Promasidor boss also revealed that the company is likely to scale up its investment in the state as a demonstration of its satisfaction with the business environment and commitment to partnering with the state to explore its business potentials.
“It’s a long term project and we will continue to invest. 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.
Meanwhile, Vice-President Yemi Osinajo, who declared the Summit open, encouraged states to embrace a knowledge economy, especially with the growing population of young men and women. He commended Governor Kayode Fayemi for his developmental initiatives since assuming the mantle of leadership in the state. The Summit was also graced by Governors Nasir El Rufai of Kaduna State, Babajide Sanwo-Olu of Lagos and Godwin Obaseki of Edo State amongst other dignitaries, investors and stakeholders in the State.
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