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Procter and Gamble to Build $250 million Plant in Ogun

By on July 16, 2012

Procter and Gamble recently had the ground-breaking for their $ 250 million (N 43 billion) baby care factory in Agbara, Ogun State.

The ground-breaking ceremony was attended by the Minister of Trade and Investment, Olusegun Aganga.

The factory is expected to generate 250 direct jobs and 300 indirect jobs in the form of small scale enterprises. It will occupy a land area of 16 hectares, with an additional 24 hectares for future expansion.

Speaking at the ground-breaking ceremony, Olusegun Aganga, disclosed that the government was actively seeking to encourage investment in the country.

He said, “We are working on reducing bureaucratic obstacles to private sector investment and developing a strong public and private sector partnership with Government as the enabler. The Government has invested heavily in education, health, technology and infrastructure and also promoted entrepreneurship and competition within the ambit of fair, equitable and enforceable laws.

The Group CEO of Procter and Gamble (P&G), Laurent Philippe, said the company had been in Nigeria for 19 years and was committed to becoming the leading  Fast Moving Commercial Goods (FMCG,) social and economic investor in the country by growing Nigeria’s economy in synergy with the President’s Transformation Agenda.

The Frenchman added that over 85% of the company’s products sold in Nigeria, were also manufactured in Nigeria.

American ambassador, Terrance McCulley who also spoke at the event said upon completion of the plant, Procter & Gamble would become the biggest investor in Nigeria outside the Oil & Gas industry.

He said, “Nigeria’s most important resource is not oil, it is not gas but its entrepreneurial people, we remain committed to advocating on behalf of American companies and informing them of the investment opportunities in Nigeria so that they can invest in the future of this great country.”