Ondo targets $2bn revenue, 70,000 jobs from investment summit

Lucky Aiyedatiwa, acting governor of Ondo, says the state is committed to fostering economic growth, creating jobs, and improving the lives of the people.

Aiyedatiwa spoke at the unveiling of the ‘Develop Ondo 2.0 Investment Summit’, in Akure on Monday.

The event, themed, ‘Developing Possibilities’, is aimed at attracting significant investments in gas adoption and related industries.

Speaking at the three-day summit, the acting governor said the summit aims to create 70,000 new jobs, attract $2 billion in investments, engage with 100 donor partners, and 1,500 investors.

These goals, according to the politician, demonstrate the present administration’s ambitious vision for a vibrant and thriving economy that uplifts the people of the state and enriches their lives.

“This summit is the second of its kind, building upon the success of its precursor, Develop Ondo 1.0,” he said.

“It serves 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.

“The summit’s theme reflects our unwavering commitment to growth and progress, with the number ‘2.0’ symbolising our drive for continuous improvement and innovation.”

‘INVESTORS HAVE SHOWN INTEREST IN ONDO’S AGRIC SECTOR’

Aiyedatiwa said the response from potential investors, so far, has been highly encouraging, with growing interest in exploring the investment opportunities that the state offers.

“Our previous summit has borne witness to remarkable success stories, illustrating the effectiveness of this platform in attracting investments and fostering economic growth in our state and enormous values to our partners and investors,” the acting governor added.

“One such success story lies in the corridor of agriculture. Several investors have shown keen interest in agricultural projects, leading to the establishment of large-scale farms, agro-processing facilities, and fruitful partnerships with local farmers.

“Notably, the ‘Red Gold Project’, an agricultural initiative implemented by the Ondo state government, has gained significant traction.

“The project focuses on promoting the cultivation and processing of oil palm, another major cash crop in Ondo state.

“The ‘Red Gold Project’ stands as a testament to our state’s commitment to agricultural reforms and the empowerment of our farmers.

“In the sphere of energy, Ondo has made history as the first Nigerian state to develop a comprehensive gas strategy, positioning itself as the gas hub of West Africa. This visionary strategy is aimed at harnessing our abundant gas and energy potential and is poised to attract significant investments in gas adoption and related industries.

“The development of an inland gas corridor with access to large gas reserves presents lucrative opportunities for investors seeking to capitalise on Nigeria’s evolving energy landscape”.

Aiyedatiwa expressed the government’s commitment to ensuring a conducive environment for investment.

He added that several measures which include simplifying business registration and licensing processes, reducing bureaucratic bottlenecks, and streamlining procedures are being implemented.

In her remarks, Fati Attahiru, United Nations Development Programme (UNDP), deputy resident representative (operations) in Nigeria, expressed the readiness of UNDP to support and collaborate with the state towards building a sustainable and inclusive economy that leaves no one behind.