Investment Drive : Ondo Governor Woo Investors At London Summits, Says Partnership With Private sector Guarantees Development




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Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN, has wooed investors across the globe to come and invest in the Sunshine state.


Governor Akeredolu told the investors that there are unique opportunities across the state.

The Governor, who attended the Nigerian Diaspora Direct Investment Summit (NDDIS) held on Friday at the Balmoral Hall, Holiday Inn, London, United Kingdom, showcased the various potentialities of Ondo State to potential investors at the event.

He was joined at the summit by his Special Adviser on Union Matters and Special Duties, Mr. Dare Aragbaiye; Chief Executive Officer and Vice Chairman of the Ondo State Development and Investment Promotion Agency (ONDIPA), Chairman of the Ondo State Information Technology Agency, Mr. Olumbe Akinkugbe; Chief of Protocol to the Governor, Bola Alabi Esq; and other aides to the Governor.

According to the Governor, the Ondo State Development and Investment Promotion Agency (ONDIPA) was created by his administration to seek development partners in the private sector and across international communities.

Governor Akeredolu noted that development can only be achieved through partnership with the private sector, stressing that no government can drive development alone.

“In view of dwindling global and National revenue base and the effect of COVID on national and sub-national economies, the need for development partners has never been more urgent and crucial. Development can only be achieved through partnership with the private sector as no government can do it alone.

“It is in view of this that our administration set up the Ondo State Development and Investment Promotion Agency (ONDIPA) to seek development partners in the private sector and across international communities,” the Governor said.

Governor Akeredolu, who said Ondo State has the largest scale production of Cocoa, Oil Palm, Cassava and Rubber, Maize, Cashew Nuts, Kolanut and Yam due to its rich vegetation, noted that the Sunshine state is blessed with varied and favourable climate conditions.

He said: “We are richly blessed with varied and favourable climatic conditions with vegetation ranging from mangrove swamps to Southern coastal riverine areas through the rain forest of the midlands to derived savannah in the northern part of the state suitable for cattle grazing.

“The Southern part of the state is home to some of the most exotic timber in Nigeria and forest resources like teak, milinea and other indigenous trees species dot the landscape.”

Arakunrin Akeredolu said the Sunshine state has 75 kilometers of continuous Atlantic Ocean coastline which will support his administration’s proposed Deep Sea Port (Port of Ondo) and the blue economy.

He said the presence of a large deposit and variety of fish offer remarkable opportunities for potential investors.

While highlighting the various opportunities and why potential investors should choose to invest in the state, the Governor said the state enjoys strategic proximity to all six geo-political zones and commercial nerves in the country and also proximity to high–level intellectual research and skilled labour as the state is home to six globally recognised universities.

According to the Governor, other unique reasons investors should invest in the state include presence of a one stop shop that holds and provides investor after care services through the establishment of the Ondo State development and promotion Agency (ONDIPA)

“It is home to Nigeria’s best technology university (Federal University of Technology Akure) FUTA. Presence of a vibrant and fast-growing technology start–ups. Availability of abundant mineral resources like Kaolin, Silica sand, limestone, iron -ore etc.

“We have the largest deposit of Bitumen in Africa and the 3rd largest
in the world. Availability of a functional Airport and only second to the Lagos
airport in the South West. We account for over 40% of cocoa export in Nigeria and are the largest producer of Cocoa in Nigeria and have an ongoing cocoa revolution project. We are 2nd largest producer of cassava, 3rd largest in rubber, 4th largest producer of cashew nuts and 1st largest producer of kola nut all with little or no value addition which presents opportunities for investors.

“We are fast regaining our leading position in the Oil Palm sector with our Red Gold initiative with over 60,000 hectares of new plantations making us the largest in terms of acreage.

“We represent vast opportunities for investors in the tourism industries. Across the state we have attractive and non – replicable antiquities of historical landmarks with rich history behind them.

“Their exclusivity offers potential investors unique opportunities to package them to the taste of the international tourism market. Tourist attractions such as: 1. Idanre Hills, Ebomi lake, Igbo Olodumare, Oke Maria (Christian Pilgrimage center) etc. offers huge potentials for discerning investors.

“One of the most peaceful and serene environments in the country with many multi layered security architecture the newest of which is the Amotekun Corp,” he said.

Governor Akeredolu, who also ascribed the successes recorded by his administration to collaboration, said: “Ondo State is awash with many successful collaborations such as: Ondo/Linyi Industrial park which now boasts of at least five industries

“The on-going Sunshine egg powder factory which is the only one in Sub Saharan Africa with capacity for 1m eggs daily to be processed to egg powder daily. Bitumen exportation and exploitation effort is on-going.”

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