By John Oba
The Abuja grow at 20 per cent, which never came to pass. “In 2016, we had envisaged that the banks would have contributed about N288 billion, but they actually contributed only N136 billion. “So, that was enough for us to pay down the principal. What we did was just to service the interest of our loan from the CBN. We pray that the contribution to the sinking fund would improve and then our losses would begin to go down,” he added. Managing Director /chief Executive Offi cer , AMCON Ahmed Kuru at a press conference said that the company recovered N134 Th e Abuja branch Manager of an India fi rm, Simba Group, Ravil Bajaj has said the fi rm will establish tricycle assemblage plant in the country next year.
Bajaj said this at the weekend during the launch of TVS Deluxe, a tricycle assembled by the company in Abuja, adding that the Group was already in partnership with the National Directorate of Employment (NDE) to empower unemployed youths. He noted that the fi rm had commenced talks with the Federal Ministry of Trade and Industries to facilitate the production process. Bajaj said: “We are actually working very seriously to setup our assemblage plant next year so that we can have more Nigerians empowered through the factory.
Th at is the next phase and we are already in talk with some state governments and we are getting lots of interest.” Describing the new product as such that is protected from behind against possible hit by vehicles, he noted that it is more secured especially to protect passengers. Earlier, NDE Director of Procurement, Mr. Adegbite Adebayo said the directorate is interested and always willing to partner with the fi rm and other corporate organisations that creates jobs. Adebayo said aside from helping to market to product as a viable means of creating jobs, the partnership would be extended to local manufacturing. ”
All over the world, the fulcrum of employment generation is always when products are manufactured locally. Yes, It is at the stage of assembling but over time, it will create opportunity for manufacturing and technology transfer,” Adebayo said. He added that manufacturing of engines, other components are potential areas entrepreneurs could take advantage. According to him, the NDE is considering other areas of partnership for the purpose of engaging the unemployed.
