Ondo summit to attract $2 billion investments, create 70,000 new jobs — Akeredolu

By Dayo Johnson, Akure

Governor Rotimi Akeredolu of Ondo State has said that the investment Summit would attract $2 billion in investments to Ondo State, create 70,000 new jobs, and engage with 100 donor partners and 1,500 investors in the state.

Akeredolu, who spoke through the Acting governor, Hon Lucky Ayedatiwa, said this at the opening ceremony of ” Develop Ondo 2.0 Investment summit held in Akure, the state capital.

He noted that ” This summit is the second of its kind, building upon the success of its precursor, “Develop Ondo 1.0.

“These targets demonstrate our ambitious vision for a vibrant and thriving economy that uplifts our people and enriches their lives.

“The response from potential investors thus far has been highly encouraging, with growing interest in exploring the investment opportunities that Ondo State offers.

“Our previous summit has borne witness to remarkable success stories, illustrating the effectiveness of this platform in attracting investments and fostering economic growth in our State and enormous values to our partners and investors.

“One such success story lies in the corridor of agriculture.

“Several investors have shown keen interest in agricultural projects, leading to the establishment of large-scale farms, agro-processing facilities, and fruitful partnerships with local farmers.

“Notably, the “Red Gold Project,” an agricultural initiative implemented by the Ondo State Government, has gained significant traction.

“This project focuses on promoting the cultivation and processing of oil palm, another major cash crop in Ondo State.

“The “Red Gold Project” stands as a testament to our State’s commitment to agricultural reforms and the empowerment of our farmers.

” In the sphere of energy, Ondo State has made history as the first Nigerian state to develop a comprehensive gas strategy, positioning itself as the Gas Hub of West Africa.

“This visionary strategy is aimed at harnessing our abundant gas and energy potential and is poised to attract significant investments in gas adoption and related industries.

“The development of an inland gas corridor with access to large gas reserves presents lucrative opportunities for investors seeking to capitalise on Nigeria’s evolving energy landscape.

“To create an environment conducive to investment, the government of Ondo State has implemented various measures.

“We have simplified business registration and licensing processes, reducing bureaucratic bottlenecks and streamlining procedures.

“Our investment-friendly policies, laws, and regulations provide a protective framework that safeguards investors’ interests while offering a predictable business environment.

” Furthermore, the development of industrial parks and special economic zones aims to provide dedicated spaces and incentives for businesses to set up and expand operations.

“One such exciting endeavour is the “Port Ondo” Project, located in Erruna/Ogboti, Ilaje Local Government Area.

“This project will create one of Nigeria’s most modern ports, equipped with the largest solid minerals terminal near an Industrial City.

“The “Port Ondo” has received Federal Executive Council approval, and its development is set to revolutionise trade and industrial growth in our State.

“The Ondo Industrial City, spread across over 2,700 hectares in Eruna/Ogboti, Ilaje Local Government Area, will operate as an industrial city with Free Trade Zone status.

“This city will host industries involved in manufacturing, processing, storage, and more.

“With access to abundant natural gas and the establishment of a 30MW Independent Power Project, this Industrial City aims to serve as a thriving hub for industrial activities.

“Our strategic location along the Benin -Ore-Sagamu-Lagos Expressway, a critical trade route in modern West Africa, provides unparalleled access to regional markets, amplifying the attractiveness of our state to investors seeking robust supply chain networks.

Earlier in his welcome address, the Commissioner for Energy and Mineral Resources, Engineer Razaq Obe who also double as the Chairman, Develop Ondo 2.0 Organizing Committee noted that the summit will serve as an eye opener to the various investment opportunities in Ondo State.

While appreciating the sponsors of the summit, Obe stressed that the time is ripe for transformative investment in the state, as he called on participants under the various categories to make the summit worthwhile.

The Director General, Performance and Project Implementation Monitoring Unit (PPIMU), Babajide Akeredolu noted that the unit has at various times spearheaded the development of critical policy documents, stressing that PPIMU played a pivotal role in ensuring the smooth execution of the summit.

“PPIMU spearheaded the development of critical policy documents, including the state Industrial Policy and Investment Guide which laid the groundwork for guiding investment decisions and policy reforms in Ondo State.”

In her goodwill message, the Deputy Resident Representative, United Nations Development Program, MS. Fati Attahiru commended the Ondo State government for its various investments especially in infrastructural development.

Attahiru, however noted that the state still has a long way to go and urged the government to take advantage of this summit to better the lot of the state.

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