Ondo State Governor, Dr. Lucky Orimisan Aiyedatiwa, has been attracting investments to drive economic growth and development in the state. He recently met with the British Deputy High Commissioner to Nigeria, Mr. Jonny Baxter, and his team to explore areas of collaboration and investment between the United Kingdom and Ondo State.
The governor highlighted the state’s vast natural resources, including bitumen, coal, gold, gas, and arable land suitable for agriculture, making it an attractive destination for investors. He also emphasized Ondo’s position as Nigeria’s largest cocoa producer, contributing about 40% of the country’s total output, with the British International Investment (BII) having invested over $40 million in the sector.
Some of the potential investment opportunities in Ondo State include:
– Deep Seaport: The state has the longest coastline in Nigeria and plans to develop a deep seaport to boost exports and unlock its blue economy potential.
– Modular Refinery: A modular refinery project is underway, backed by investors working with the Ondo State Development and Investment Promotion Agency (ONDIPA).
– Chemical Plant: An upcoming chemical plant is expected to contribute to the state’s economic growth and create jobs.
– Fertilizer Production: A $2.6 billion investment is planned for a fertilizer production and petrochemical plant, which will significantly boost the state’s economy, generate thousands of jobs, and enhance agricultural productivity and industrial development.
– Oil Exploration: Sahara Energy has been licensed to manage two new oil fields (PPL 270 and PPL 271) in the riverine communities of Ilaje Local Government Area.
Governor Aiyedatiwa has assured investors of a peaceful and business-friendly environment, emphasizing his administration’s commitment to providing an enabling environment for operations to thrive.
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