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48 DAILY SUN

Tuesday, August 21, 2012

,

BUSINESS NEWS

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mn, Gbytond tmted ;, pion. .. Root • buA, IChairman. ~w:::~~ MaD Sam tng ~

Ohuabunwa, a fonner CEO of Ncimeth I'ttannaocutita and ODe: of the protnIXen of the bulb plant, said at a press briefIng in Lagos on Monday tb:n Ihc company which is a direct response to government's vision to cut oown on energy wastage in the country would gulp lUI cstimaled NSOOmillion on completion. The planL he said. .....iU be Cited somewhere between Lagos and Ogun stale and wiU employ 'lO estimated 5,000 Nigerians when it comes fully OD stream. It hopc:'.!l 10 athie ve a 548megawstlS energy saving larget via the lqllac:cmcnl of 1000llion oflbe 60 watts iocan-

descenl bulbs aurently in use by Nigerians, "You lrnow I retim:I from Neimelh and we have worked on this project for- !he pa.5I t\\-o years. It is a Nigerian content thing. We will be investing about N500million into the pr0ject, and thai is !he Mt phase of it and il will be cited somewhere between lagos and 0100 Sb.le," Ohuabuo...... said.

"Energy mnaios a critical problem in our drive 10 build the CCODOOly of ow country; and one of the problans is that y,~ waste even the little we gencrntc. '"This company is designed by Nigerians in the diaspon and !he producIs kIJoy,"O as 'woodda1itc:' spc:ciaIly designed to meet the unique DCCds of NigcriaM: they have deve l· oped the patent and we want to saVl: energy ..... ith LED bulbs whicb will replace the incandesa:ntlamp, We wiUstart the construction of

the fatlory by 2013 and by 20 1S it should be

cornph:tcd By the rime it c:omcson stream we are looking al creating about 5,000 direct jobs for Nigerians. ," he IKIdcd He said the quest by the company to im'Ql in the energy saving lamps wou ld. besiOc:s creating jobs, boosl tax income fOI government and foreign eJlthange earnings through e:tpolt 10 other countries, as .....ell as stimulation of linkages to other industries. He oowevCl" urged the govmuncnt so step

up the campaign for the usage of energy effi· cient bulbs in the counlly. ' 'The government should SIlI1t the public

enlightenment and promotion of !.be LEDttthnology eoergy efficient bulbs and also legislate the phasing out of in<:andcstxot buIbs." he coocJudcd.

Ondo govt to boost food production ... Disburses N290rn under Fadarna J J J

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tion through the dl:w:lopment ofagric:ulturc. culture. He highlighted projects executed under She ex plained thai this would only be poss'" Fadama III programme: as bCJrt;holes, 000bIc if they embtaocd various oppornmitics ~ go.atllell has restated structioo of ICCCSS roads and markets, amoog offem! by the Fadama 111 programme.. The Third National Fadama Development """"boo5t food ~ in !he state. The lXImmi.ssioncr hinted that the state h3d Project (Fadama· lU) is a foUow-up on the Acconling 10 the Slate Commissioner for been paying its rounterpart funds to ensure Second phase.. The objective ofFadama ill is Agriculture, AdemoIaOIorunfcmi, thestategov. thai fanners got ocub::I fann inp.rts. to iocn:ase the iocomc:s ofusen; of rur.al Land c:rnment bad disbursed about N290 million to According to the stale's Project and watc:t I'CSOI.Im:S on • sustainable basis. fanners under the Fadama III progr.unmc. Coordinator, 8c:alric:c Adeful~ over 40 The project rdics on the facilitation for Olorunfemi woo spoke at a stalceholdc:n meet· households bcoc:filed from the progrnmme. dc:mand-driven invc:sano:lts and etnpOWtting on Fadama 111 , said that the Slate AdcfuIin u.honcd farmers to move away menl of local community gJUUJlS, and to Govemrncnt was poised 10 boost food produc- from subsistence fanning to COfIlIIlO"Cialagri- improve productivity and Land quality,

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Firm Roats N500m bulb manufacturing plant

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DAILY SUN, 21 AUGUST, 2012