FG pledges support for local manufacturers of pencils


The Federal Government has pledged support for indigenous companies as Nigeria commences local production of pencils.

According to the Minister of Science and Technology, Ogbonnaya Onu, this will prevent the country from importing pencils which is estimated to be costing the nation N750 billion annually.

Onu said this while hosting Muideen Ibrahim, Managing Director, BAMIB Resources and Investment Company Ltd, who paid him a courtesy visit on Monday in Abuja.

Ibrahim, in his presentation on Pencil Project, said he was delighted that the company rolled out its pencils on August 1, 2018 as the first indigenous pencil manufacturing company in Lagos state and second in the country.

The managing director further appealed to the minister to implore Central Bank of Nigeria and the Federal Government to make available at least, N 500 billion in Special Intervention Fund to pencil manufacturers.

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