Ogun targets $1trn in new investment drive

on   /   in News 12:49 am   /   Comments

…Focuses on agric, urban devt


ABEOKUTA—Ogun State government is to partner the private sector in its renewed drive to attract investments worth $1 trillion into the state, focusing on agri-business and urban development.

Governor Ibikunle Amosun disclosed this yesterday, in Abeokuta, at the second edition of the Ogun State Investors’ Forum, with the theme, ‘Agriculture and Urban Development’.
He said the state had already attracted a cumulative investment of $7.3bn within the last two years, from 46 companies, as direct fallout of the first edition of the Investors Forum held in 2011.

The governor noted that about 30 more companies were at various stages of completion, explaining that the state conducted the business of government and reformed the structures of service delivery to ensure that Ogun was not only open for business but indeed friendly to business.

According to him, the state had created an enabling environment for investment to thrive and was improving its investment climate capable of driving investment beyond the current status, saying “we have the capacity to grow beyond where we are presently.

Today, we have created an enabling environment for investment to thrive and improved our investment climate, and thus make our state an investors’ destination of choice. For instance, between the hosting of the first edition of the Ogun State Investors’ Forum and now, about 46 major industries with a total investment of about $7.3 billion have established businesses in the state while over 30 others are in their various stages of completion.

“We have Lafarge WAPCO Cement, Wemco Cold Steam Iron Steel ,May & Baker, Shongai Plant, Procter & Gamble which is the largest single American investment in Nigeria, outside the petroleum sector.”

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