From Anthony Nwachukwu, Lagos
With the commissioning of Beloxxia��s expanded biscuit production plant in Agbara, Ogun State, Thursday, the Managing Director/Chief Executive of the Nigeria Export Import Bank (NEXIM), Mr. Abba Bello, has said that both organisations were already at an advanced stage for a third plant for product packaging.
Addressing newsmen on the sidelines of the event, Bello commended Beloxxi for its focus and commitment to actualizing the just commissioned second phase, stating that the banka��s mandate a�?is to grow the non-oil export by participating in financing non-oil export.
He noted that a�?the dearth of biscuit manufacturing in Nigeria meant that most biscuits consumed in Nigeria is imported. So, NEXIM came in to support Beloxxi from the outset of the business, first for import substitution, and then to facilitate the export of Beloxxi biscuit.a�?
Though the company has existed for over 10 years, Bello disclosed that the banka��s financial contribution to its expansion was in the region of N1 billion, adding that a�?Beloxxi has even paid up the facility.
a�?We are having discussions on granting further enhancement and new facilities. That is how good the business is and that is why we will continue to support them.
a�?We are completely satisfied with what is going on here and wish this could be multiplied a thousand times across the length and breadth of this nation for creation of employment and value addition, as well as export from the same axis and manufacturing plant. That is what we are campaigning that we should produce, add value and export.a�?
According to him, a�?what we are doing when we export goods without adding values is that we export jobs along with the products, but when you have the full value chain, and Nigerians involved in the full value chain, you are creating employment and adding value for tax purposes and revenue generation, etc, and then export as well. There is nothing better than this.a�?