Investors in Abia State…A Welcome Development!
The recent visit of the Executive Governor of Abia State Dr. Okezie Victor Ikpeazu PhD to China has generated a lot of reactions, which among them includes; Bringing inn foreign Investors to Abia State is a bad idea from Dr. okezie Ikpeazu lead Administration.
One of the things that gives a State a strong economical base is through internally generated revenue. These internally generated revenue comes from Tax, mostly Company Tax, which is dependent on how many and quality of the Companies that can generate the much needed revenue to the State.
Employment creation is another vital and critical area that a serious Government need to look into in order to engage the unemployed persons in the state. One of the ways you can create more employment is through establishment of Companies, and you cannot ascertain 100% of Company establishment from the State without the invitation of foreign investors to key into it.
Therefore, we need foreign investors here in Abia to grow our economy & create more employment opportunities.
For instance, Foreign investors have contributed immensely to the growth & development of the economy of Lagos State that kept them where they are today through company’s Tax payment boosting their internally generated revenue.
Example of such companies are: (a) Chi Company from China, manufacturers of Chivita Juice, Chiexoltic Juice, Superbite & Beefy sausage roll etc, (b) Nestle Plc from South Africa, manufacturers of Milo food drink, Nescafe, Maggi Star Cube, Nido milk, Nestle Water etc, (c) Dufil Ltd, manufacturers of Indomie, Power Oil etc. Nevertheless, all the major product Packaging companies in Lagos that produces packaging materials such as Nylon bags, Cartons, Plastics, & Hair attachments are owned and managed by foreign investors. This has generated a lot of revenue to the State, and thereby created more employment to Lagosians.
However, I blatantly disagree with the people who are of the opinion that Dr. Okezie Victor Ikpeazu’s invitation to foreign investors is a bad one. We solidly need to have them here in Abia to move the State forward. We happily therefore commend the Governors effort of inviting foreign investors to Abia State.