NBCC Forum: Ondo State will Continue to Use PPPs to Achieve Industrialization - Governor Akeredolu

Saturday, October23, 2021 / 6.00AM / Ottoabasi Abasiekong for WebTV/ Header Image Credit: WebTV

The OndoState government will continue to partner with the private sector to lead the"Sunshine State" to the path of full industrialization and economictransformation. Governor Rotimi Akeredolu, SAN, said this at theNigeria-British Chamber of Commerce (NBCC) "Meet the Governor Forum," whichfeatured Ondo State.

According toAkeredolu, Ondo state is the 13th largest economy in Nigeria, dominated by Oiland Gas & Agric which account for over 80% of its GDP.

He addedthat the state was home to the longest coastline in Nigeria, which thegovernment is leveraging to establish a "Deep Sea Port-Port of Ondo." He alsoinformed investors and stakeholders that Ondo had the largest Bitumen depositin Sub-Saharan Africa.

The Governorstated that through the public-private partnership model, Ondo seeks to producebitumen locally to boost industrialization and create more value for itseconomy.

Akeredolusaid to facilitate socio-economic activities in the state, the government fullysupports the Ore Industrial Park, which will serve as one of the leading hubsin the nation.

In theAgro-sector, the Governor mentioned the "Red Gold Initiative," which aimed attransforming the Oil palm sector, with 6,000 hectares of land that has already been dedicated to the new planand stated that Ondo is the largest producer/supplier of tomatoes to Lagosstate.

He listedthe following as some of the industries, initiatives and projects that thegovernment is giving top priority;

Resuscitate Okitipupa Oil Palm througha PPP model
Develop the Sunshine Egg Factory
Revitalize Oluwa Glass Company
Revamp Efon Ceramics Limited
Drive the Cassava to Ethanol project

In terms ofaviation, he said Akure Aiport is the fastest growing airport in the South Westafter Lagos. He said the Ondo State Investment Promotion Agency (ONDIPA) wascreated as the one-stop hub for facilitating investment deals and tradeactivities.

In hisremarks, the CEO, ONDIPA, Mr. Boye Oyewumi, assured the members of the NBCC andpotential investors that Ondo state is open for business and an integratedtourism network that continues to attract visitors from across the globe.

He saidONDIPA would be proactive in investment promotion, showcasing the opportunitiesfor investors to tap.

In heropening remarks, the President of the NBCC, Mrs. Bisi Adeyemi, lauded GovernorAkeredolu on his strides in Ondo state and described the forum as anopportunity to identify areas for investments public-private partnership in thesub-national.

The NBCC"Meet the Governor Forum" jas gained traction as the Chamber has played host toGovernors Babajide Sanwoolu of Lagos and Mr. Dapo Abiodun of Ogun state. Theforum featured a Q & A session with the Governor moderated by Anne Rinu,Advocacy Committee, NBCC.

Mr. AbubakarSuleiman, the CEO of Sterling Bank and sponsors of the forum, tasked investorswith developing robust funding strategies and plans that states like Ondo couldadopt to increase revenue.

He saidSterling Bank is committed to financing the development of Nigeria's Agrosector, as it prides itself as the bank with the largest risk asset portfolioin Agribusiness.

NBCC isNigeria's foremost bi-lateral trade chamber committed to promoting trade andinvestments between Nigeria and the United Kingdom.