Lucky Aiyedatiwa, the acting governor of the Ondo state has said the state government is prepared to target $2 billion worth of investment to the state as it gears up towards attracting both local and foreign investors.
Aiyedatiwa revealed this while declaring open the 2nd edition of Develop Ondo 2.0 Investment Summit tagged ‘Developing Possibilities’, which was held at the International Culture and Event Centre, The Dome, in Akure, the state capital.
He said the present government in the state was poised to attract over 1,500 investors most especially in the areas of economic, industrial and infrastructure development to the state.
According to him, the present government would create no less than 70, 000 new jobs for the unemployed persons and with the engagement of over 100 donor partners
“To drive investments in these key sectors, the “Develop Ondo 2.0 Investment Summit” aims to attract $2 billion in investments to Ondo State, create 70,000 new jobs, and engage with 100 donor partners and 1,500 investors.
“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,” Aiyedatiwa added.
The acting governor further noted that the development drive was to re-echo the unwavering commitment of the present administration, especially towards fostering economic growth, creating jobs, and improving the lives of the people of the state.
He stressed that the summit which is the second of its kind, was built upon the success of its precursor, “Develop Ondo 1.0” which served as a platform to connect stakeholders from diverse sectors, facilitating constructive dialogue, knowledge sharing, and the forging of strategic partnership for accelerated development in the state.
While noting that the response from potential investors so far has been highly encouraging with growing interest in exploring the investment opportunities that the state offers, Mr Aiyedatiwa said the government would be focusing more on the resources that abound in the agricultural sector of the state.
He explained, “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.
“The 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 capitalize on Nigeria’s evolving energy landscape”.
He, however, assured that the government was ready to create an environment conducive for investors, stressing that the present administration has implemented various measures which include simplifying business registration and licensing processes, reducing bureaucratic bottlenecks, and streamlining procedures.
Earlier, Ms Fati Attahiru, the Deputy Resident Representative (Operations) of the United Nations Development Programme (UNDP), Nigeria, assured the preparedness of her organisation to support the state towards achieving its goal of building a sustainable economy.
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