Specifically, according to the state governor, Gbenga Daniel, Ogun State Government has identified three major capital projects estimated at $43.26 million (N6.5 billion) among others, requiring financing by banks in the state.
In an interactive session with the Central Bank of Nigeria (CBN) and the Bankers’ Committee in Lagos recently, Daniel said the identified projects are the Gateway International Airport Project (Phase I) estimated to cost $28.3 million, Olokola Deep Sea Port Project (Phase 1) $1.16 million and a Diagnostic and Trauma Centre project expected to cost $13.8 million.
Other projects considered requiring financing by the banks include Light Rail Project, Abeokuta Central Business District Project, Gateway Power Projects among others.
Daniel who made a brief demo of the proposed airport reiterated his passion and personal commitment to the project. Highlights of his presentation showed that the state has witnessed increased production in agriculture with the establishment of processing industries.
In the area of access to land, the Governor said the reform programme in the land sector has significantly aided business expansion, cutting across all economic sectors of the state.
The Governor also noted that internally generated revenue has witnessed a phenomenal growth of more than 1000 per cent as revenue has grown from an average of about N100 million monthly to about N1 billion over the last seven years and it is still on the rise.
Speaking on economic potentials of the state, Daniel said proximity to Lagos offered potential for fast-paced real estate sector growth, availability of vast agricultural resources statewide, large uncluttered land for development of Industrial enclaves, opening to the Atlantic Ocean (18m water depth without dredging) and availability of vast solid mineral resources are inherent values in Ogun State.
He emphasized that the economic agenda of the government is to transform the state into a South West regional transportation hub through the development of airport, seaport, rail transport facilities as well as transformation of the state into a designated cargo hub; an industrial and commercial hub, expansion of the IGR of the state and sustainable development.
Giving assurances of the commitment of the Bankers Committee to provide positive partnership on socio-economic initiatives, Mallam Sanusi Lamido Sanusi, Governor, Central Bank of Nigeria and the Chairman of the Bankers Committee, restated the objective of the interactive session with the Executive Governor of Ogun State, saying the interaction is a part of efforts of the Committee to take deliberate steps to ensure that Nigerian banks play their role as financial intermediaries and drive the development of the real economy.
