Amb. Mariam Yalwaji Katagum, the Minister of State for Industry, Trade and Investment, has stated that Nigeria is committed to the progress and optimal operation of Onigbolo Cement and Save Sugar Companies for economic development between Nigeria and the Republic of Benin.
The Minister made this known during the Ministerial Session and Signing of Resolutions and Communique of the 26th Ordinary Session of the Joint Supervisory Authority (JSA) on Onigbolo Cement and Save Sugar Companies between the Federal Republic of Nigeria and Republic of Benin held in Abuja.
Amb. Katagum revealed that the enterprises have experienced mixed fortunes over the years, leading to the full privatization of the two Government stakes in Onigbolo Cement Company.
She also said the lease agreement governing the management and operations of Save Sugar Company will expire in May 2023, stating that, it is expedient on the part of both governments to proactively design and develop concrete steps and actions that will enhance the fortunes of the enterprise post-2023.
Amb. Katagum said that Nigeria and the Republic of Benin should be seen to promote and deepen economic diplomacy and political integration between the two countries, especially among the people.
“In that regard, the Federal Ministry of Industry, Trade and Investment has been directed by His Excellency, President Muhammad Buhari, to ensure that the Nigerian Government maintains interest in Save Sugar Company while at the same time encouraging private investments into the enterprise. This is to guarantee infusion of financial resources and repositioning of the enterprise for better performance” the Minister stated.
She also emphasized that the two countries’ representatives should re-double efforts to guarantee delivery of the objectives and desires of their respective Governments, stating that, this would further magnify and sustain the aspiration of the founding fathers.
Amb. Katagum thanked her Republic of Benin Counterpart, H.E. Alimatou Shadiya Assouman who led the delegation, for making out time to attend the 26th session of the JSA on Onigbolo Cement and Save Sugar Companies in Abuja.
She also appreciated the Nigerian Ambassador to the Republic of Benin, General Tukur Buratai for his commitment to the progress of the enterprise.
In her closing remarks, the Minister of Industry and Commerce, Republic of Benin, H.E. Alimatou Shadiya Assouman acknowledged the goodwill of President Mohammadu Buhari in strengthening the bilateral relationship between Nigeria and the Republic of Benin and also the work well done by Amb. Katagum and her technical team.
Both established in 1982, Onigbolo Cement and Save Sugar Companies is a joint venture between the Governments of Nigeria and the Republic of Benin for the production of maximum cement and sugar for both countries.
