7 August 2012

Nigeria: Firm Seeks End to Insecurity in Nigeria

The Federal Government has been called upon to find lasting solutions to the security challenges threatening sustainable growth of the nation's economy and Foreign Direct Investment (FDI) into the country.

Managing Director of Cakasa Engineering Group Nigeria Limited, Philip Balami Yaro, made the call at the Divcon Engineering Company Limited's 8th annual thanksgiving meeting, in Lagos.

Yaro said there was an urgent need for government to provide the much-desired enabling environment by addressing the current state of insecurity to rekindle investor confidence to partake in oil and gas projects that would enhance transfer of technology.

He also urged the National Assembly to ensure speedy passage of the Petroleum Industry Bill (PIB) and for the executive arm of government to ensure compliance with the provisions of the bill by all stakeholders to guarantee jobs for local companies and tame the rising trends of unemployment in the country.

Yaro who observed that indigenous companies were not growing at the desired pace in terms of technology transfer in consonance with the provision of the Nigerian Content Act, implored Divcon to collaborate with other strategic local players in this regard.

He however, admonished the management of Divcon to continue to adopt good corporate governance and avoid sharp practices, which remains the pitfall of many Nigerian companies today.

He also enjoined the management and staff of the company to rededicate themselves to the cause of growing the company to greater heights, notwithstanding the daunting challenges occasioned by the global financial crisis in 2008.

Responding, President, Divcon Engineering, Andy Ikekhide, expressed delight in what God has been doing in the company and advised Nigerians to put aside religious, political and ideological differences and join forces with the federal government to address these daunting security challenges by seeking divine help from God.

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