Ododo commissions Lube Factory, hails Tinubu’s economic reforms, offers three-year levy waiver

By Ezurike Ugochukwu

Kogi State Governor, Ahmed Usman Ododo, has commended President Bola Ahmed Tinubu’s economic reforms for creating an enabling environment for industrialisation and private-sector investment, announcing a three-year waiver on selected state levies to encourage business growth.

Ododo spoke on Sunday while commissioning the Confluence Lube lubricant blending and packaging factory owned by Godec Power Nigeria Limited along the Ganaja-Ajaokuta Expressway in Kogi State.

The governor described the investment as a significant contribution to the state’s industrialisation drive, job creation and economic development, noting that the establishment of the facility reflected growing confidence in Kogi’s economic potential.

He said the state could realise its economic potential by attracting investors willing to commit resources to productive ventures, create employment and add value to the local economy.

Ododo commended the Chairman and Managing Director of Godec Power Nigeria Limited, Chief Okechukwu Obika, who is also the Vice-President of the Igbo Community in Kogi State, for investing in a facility that produces engine oils and plastic containers.

He stressed that his administration was committed to encouraging local production and value addition rather than allowing raw materials to be taken out of the state without corresponding economic benefits for its people.

According to the governor, expanding private-sector investment remains critical to creating employment opportunities and reducing dependence on government jobs.

To support businesses and attract further investments, Ododo announced a three-year waiver on selected state levies, covering Land Use Charge, Environmental Levy, Business Premises Annual Renewal, Fire Service Levy and Economic Development Levy.

He assured investors that his administration would continue to provide the support needed to establish and grow businesses in the state.

Ododo added that Kogi possessed the strategic location, natural resources and human capacity to emerge as a major industrial hub in Nigeria.

Earlier, Obika said Godec Power Nigeria Limited was established in 2001 as an electricity trading business before diversifying into several areas, including cargo tricycle assembly and distribution, lubricant production, plastic recycling, plastic container manufacturing, industrial tools and agricultural processing equipment.

He explained that the Confluence Lube factory produces engine oil for petrol and diesel engines, transmission oils and plastic containers, while plans are underway to introduce hydraulic oil, brake fluid, transformer oil and grease.

Obika disclosed that the company had created 100 direct jobs and more than 200 indirect jobs, adding that the figures could rise significantly as the facility expanded to full operational capacity.

According to him, the planned expansion could increase direct employment to more than 300 jobs and indirect employment to over 1,000, further boosting economic activities and creating opportunities for residents.

He said the investment formed part of the company’s commitment to local manufacturing, industrial development and employment generation.

The Kogi State Commissioner for Commerce and Industry, Muhammed Muktar Shuaibu, reaffirmed the state government’s commitment to working with investors and communities to advance economic development.

Shuaibu emphasised the importance of cooperation and inclusion, noting that the administration was committed to bringing people from diverse backgrounds and communities together to promote the collective prosperity of Kogi State.