The Vice President said this at the grand commissioning of BUA Group's cement factory in Okpella, Edo state.
The Vice President was the distinguished guest of honour at the official commissioning of the new three million ton OBU cement plant.
This was revealed by Osinbajo's Senior Special Assistant on Media and Publicity, Laolu Akande, on his Twitter account (@akandeoj).
He tweeted, "VP Osinbajo arrives Edo State on a day visit to commission fertilizer & cement plants-advancing the Buhari administration's economic plan".
While speaking at the ceremony, the Vice President lauded the projects and the economic benefits that it represents for the state and the country.
He said, "Just reading about this magnificient complex and seeing it, I'm extremely proud to be a Nigerian. This is a wholly Nigerian enterprise and the planning, the execution and successful establishment of this industrial complex was done by a Nigerian and by a Nigerian team.
"The construction is a big boost to the Nigerian economy. It means thousands of direct jobs and indirect jobs both for skilled and unskilled workers from the commencement of the works to the current smooth running of the production process.
"At the level of production already attained, it also means a consolidation of Nigeria's self-sufficiency in cement and a big boost to our export capacity.
"I'm also happy to note that in the construction of the power production facility for this plant, the BUA group has used the most modern and efficient gas turbines which combines low and economical running cost with a very high degree of reliability.
"This enterprise typifies our expectations as a government. In the Economic Recovery and Growth plan which was launched by Mr. President on the 5th of April, 2017, he made it clear that Nigeria's economic emancipation and growth must be private sector-led and driven.
"There is simply no public sector resource that can match the resources, drive and commitment of the private sector.
"So for us as a government, doing all we can to encourage investment of this type is not just a good idea, it is the cornerstone of our economic policy."
The commissioning ceremony was also attended by Edo state governor, Godwin Obaseki, former governor, Adams Oshiomhole, as well as the Minister of Agriculture, Audu Ogbeh, Minister of Industry, Trade and Investment, Okechukwu Enelamah and Kano state governor, Umar Ganduje.