President Jonathan Performs Ground-Breaking of 100 Billion Cement Project In Gombe

Truely President Goodluck Jonathan is a builder.He displayed this one more time on Friday when he performed the ground-breaking of 100 billion expansion project for Ashaka Cement Company in Gombe State.The expansion is to give the company a new 2.5 metric-tonne capacity.The project will be completed in three years time.The President was represented by the Minister of Industry,Trade and Investment,Mr Olusegun Aganga.

 During the ceremony,the President said “The cement industry is a perfect example of the transformation that can happen in an industry based on the focused implementation of a well-thought out policy and a continuous partnership that harnesses the expertise of the private sector and the capacity of the public sector.
“The commencement of the capacity expansion of AshakaCem Plc’s cement production project further buttresses the confidence that global investors have in the Nigerian economy, which is now the largest economy in Africa.”
The President added, “As at 2002, the local cement industry had the capacity to barely produce two million metric tonnes per annum. By the year 2013, this had grown to 28.5 million metric tonnes and we expect the installed capacity to be about 39 million metric tonnes by the end of this year.

“Today, the Nigerian cement industry has attracted $8billion in both local and foreign investments and supports approximately 1.6 million jobs. The industry also serves as the fulcrum of the housing and construction sectors. These sectors now contribute 11.13 per cent to Nigeria’s forecast Gross Domestic Product for 2013.”