Business Mogul, Ichie Ken Maduakor has built an ultramodern lubricant factory in Ogbaru,Anambra State . Ichie Ken Maduakor who is the Chief Executive Officer of KM Oil and Gas,is an Nnewi based machine part dealer and Liquor giant.
The epic event was attended by Senator representing Anambra South Senatorial District, Senator Ifeanyi Ubah, the Anambra State Commissioner for Trade & Industry Hon Christian Udechukwu, the Chief Executive Officer of Dozzy Oil Chief Dan Chukwudozie, Chairman of Anambra, Enugu and Ebonyi States branch of the Manufacturers Association of Nigeria (MAN) Lady Ada Chukwudozie and Gabros Group boss,Chief Gabriel Chukwuma.
In his speech, Senator Ubah who commissioned the factory reiterated the need for investment in the manufacturing sector in order to boost economic growth and create employment opportunities. He highlighted the importance of supporting local entrepreneurs and industries, as they play a crucial role in driving economic development.
Other speakers were in unison on the significance of collaboration and partnership between the government, private sector, and other stakeholders in order to create an enabling environment for businesses to thrive. This includes providing necessary infrastructure, access to finance, and favourable policies that promote business growth and sustainability.
On his part, Ichie Ken Maduakor, expressed his gratitude towards the government and all the individuals who supported him in making the project a reality. Chief Maduakor highlighted the high quality standards that would be maintained in the production process, ensuring that the lubricants produced in the factory meet international standards.
The factory itself is equipped with state-of-the-art machinery and technology, allowing for efficient and effective production of lubricants. It is expected to create job opportunities for the local community, thereby contributing to the reduction of unemployment in the area. Additionally, the factory is expected to boost the local economy, as it will increase the production of lubricants within the state and reduce the need for imported products.
According to him,”this project is a testament to the potential and capabilities of Nigerian entrepreneurs. It shows that with the right support and investment, local entrepreneurs can contribute significantly to the growth and development of the country. It also highlights the importance of promoting local production and reducing dependence on imported goods.
“The commissioning of this lubricants factory marks a significant milestone in the journey towards economic self-sufficiency and industrialization. It is a step in the right direction towards building a strong and resilient economy. It is hoped that this project will inspire other entrepreneurs and investors to explore opportunities in the manufacturing sector and contribute to the economic prosperity of Nigeria”.
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