New Telegraph

Ondo Govt Targets $2bn Investment, Create 70,000 Jobs

The Ondo State government on Monday unfolded plans to draw investment worth $ 2 billion into the state economy and create not less than 70.000 jobs for the youths.

The Acting Governor, Mr Lucky Aiyedatiwa said the government has concluded arrangements to attract not less than 1,500 investors and partner with 100 donor agencies.

Speaking at the Develop Ondo Investment Summit, Aiyedatiwa said the targets of the government demonstrated its ambitious vision for a vibrant and thriving economy that would uplift the people and enriches their lives.

According to him, the “Develop Ondo 2.0 Investment Summit” was a testament to the government’s vision and unwavering commitment to fostering economic growth, creating jobs, and improving the lives of the people of the State.

Aiyedatiwa said the investment summit was aimed to showcase the State’s investment potential, promote it as a premier investment destination, and foster a conducive business climate that attracts both local and international investors.

The Acting Governor said the summit would serve as a platform to connect stakeholders from diverse sectors, facilitating constructive dialogue, knowledge sharing, and the forging of strategic partnerships that will be the catalyst for accelerated development in our State.

His words “Our State’s investment potential is boundless, spanning various sectors that offer enticing opportunities for growth and prosperity. Agriculture, with its abundant arable land and favourable climate, presents vast potential for agribusiness ventures, agro-processing, and value-addition industries.

“Ondo State is rich in natural gas and mineral resources, including bitumen, limestone, granite, coal, kaolin, and glass sand, paving the way for investments in mining and solid minerals exploration. Our State is on the cusp of a remarkable industrial revolution, with the manufacturing sector offering immense possibilities for investors seeking to establish processing and value-added industries.

“The realm of renewable energy points to us a greener and more sustainable future. Ondo State is blessed with abundant renewable energy sources, such as solar and biomass, making it an ideal location for investments in renewable energy generation and related infrastructure.”

Aiyedatiwa said the State has made history as the first Nigerian state to develop a comprehensive gas strategy, positioning itself as the Gas Hub of West Africa. He added that the visionary strategy was aimed at harnessing our abundant gas and energy potential and is poised to attract significant investments in gas adoption and related industries.

The representative of the United Nations Development Programme (UNDP) said the 2030 development goals cannot be achieved without proper planning, which the investment summit represented.

The Niger Delta Development Commission (NDDC) also said the Niger Delta region should look beyond oil as oil companies were divesting from oil, which put the future of the region in jeopardy without oil, hence the need for the summit to chat way forward for the region.

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