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The Minister of State for Industry, Trade and Investment, Samuel Ortom has urged Benin Republic and the Nigerian Government to explore areas of competitive advantage for industrialization, job and wealth creation for their citizens.
He stated this when he signed a joint communiqué on the consideration of the lease Agreement of Onigbolo Cement and Save Sugar Companies recently in Abuja.
The Minister said that the pilot scheme in Onigbolo Cement and Save Sugar Company jointly owned by both countries is an avenue to provide jobs and wealth for their citizens; adding that the joint venture is an example for other African countries to emulate. "This has proven that African countries can utilize joint ventures to improve their economy and the well-being of their citizens; especially during the period of clamour for industrialisation, job creation and other opportunities. We can do more with other African countries," he said.
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Samuel Ortom noted that it is only boundaries that separate countries; otherwise all countries are one. Adding, boundaries are for administrative conveniences as both countries have had a long time bilateral relationship.
Speaking earlier, the Minister of Industry, Commerce and SMEs for Benin Republic, Naomie Azaria Hounhoui pointed out that Nigeria and Benin Republic has to improve their bilateral relationship and also ensure that industrialisation thrives in both countries.
She added that during the 21st Session of the Joint Supervisory Authority (JSA) and the Joint Monitoring Committee (JMC), members approved the sum of 61,335,639 (Sixty One Million, Three Hundred and Thirty Five Thousand, Six Hundred and Thirty Nine FCFA) as the operational budget of the joint committee for 2014.
On the issue of external debts for the Onigbolo Cement Company and the Save Sugar Company, the Committee resolved that the issue be brought to the attention of the two Heads of State with a view to finding permanent solutions. The Joint Monitoring Committee was instructed to study the authenticity of the new debt claims by the creditors and the 6% shares of FL Smidth advised to be kept in trust by the owner States in the interest of the workers of Onigbolo Cement Company as well as a trusteeship arrangement put in place.
"The joint Supervisory Authority resolved that the establishment of the bio-ethanol plant at the Save Sugar Company should be assessed and evaluated before its implementation; whereas the Joint Monitoring Committee was instructed to pay regular visits to the Save Sugar Company. Benin Republic and Nigeria were the joint owners of Onigbolo Cement Company and Save Sugar Company, both located in the Republic of Benin, " she disclosed.