Akeredolu says Ondo State has unique opportunities for investors



Gov. Oluwarotimi Akeredolu of Ondo State has called on investors across the globe to come and invest in the state, saying there are unique opportunities for investors across the state.

Akeredolu made the call in a statement by his Chief Press Secretary, Richard Olatunde, on Monday in Akure, saying that partnership with the private sector would guarantee development.

The governor, who attended the Nigerian Diaspora Direct Investment Summit (NDDIS) on Friday at the Balmoral Hall, Holiday Inn, London, UK, showcased the various potentialities in the state to the potential investors at the event.

“In view of dwindling global and national revenue base and the effect of COVID-19 pandemic on national and sub-national economies, the need for development partners has never been more urgent and crucial than now.

“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,” he said.

Akeredolu said that development could only be achieved through partnership with the private sector, saying that no government could drive development alone.

He said that the state has the largest scale production of Cocoa, Oil Palm, Cassava, Rubber, Maize, Cashew Nuts, Kolanut and Yam due to its rich vegetation.

“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,” the governor said.

Akeredolu said the state has 75 kilometres of continuous Atlantic Ocean Coastline, which he said would support his administration’s proposed Deep Sea Port (Port of Ondo) and the blue economy.

According to him, 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 the six geo-political zones and commercial nerves in the country.

He said that the proximity of the state to high-level intellectual research and skilled labour as well as home to six globally recognised universities, was an added advantage.

According to him, other unique reasons why 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 an d 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 among others, can attractive to investors.

“We have the largest deposit of Bitumen in Africa and the third 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 per cent of Cocoa export in Nigeria and we are the largest producer of Cocoa in Nigeria and have an ongoing Cocoa revolution project.

“We are the second largest producer of cassava, third largest in rubber, fourth largest producer of Cashew nuts and first largest producer of Kolanut 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: 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.

Akeredolu, who also ascribed the successes recorded by his administration to collaboration, said the state was awash with many successful collaborations such as Ondo/Linyi Industrial Park which now boasts of at least five industries

“The ongoing Sunshine Egg Powder Factory, which is the only one in Sub-Saharan Africa with capacity for one milloy eggs daily to be processed to egg powder daily.

“Bitumen exportation and exploitation effort is ongoing,” he said.(NAN)