NBCC Forum: Ogun State Governor Highlights Investment Opportunities in the State

Proshare

Sunday, May 23, 2021 / 06.00AM / Ayomide Oguntoye for WebTV/Header Image Credit: @dabiodunMFR

 

Proshare Nigeria Pvt. Ltd.


The Nigerian British Chamber of Commerce (NBCC) on Thurday, May 20, 2021 hosted a webinar which had Prince Dapo Abiodun, the Governor of Ogun State as the guest speaker to address investment and business opportunities in the State.

 

Mr. Kayode Falowo, the President and Chairman of Council of the NBCC, in his opening remarks noted that according to the World Bank Group; Country Partnership Framework Unit, for Nigeria to make tangible socio-economic progress, sustained private sector led-growth must be supported. This he said has led to the World Bank's approval of  6 led projects in Nigeria's development priorities in 2020, one of which was the Ogun State Economic Transformation Project.

 

The project, is aimed at catalyzing private investments in Ogun State by providing and improving the business environment, strengthening the linkages between agricultural producers, suppliers and service providers, providing training and apprenticeship program for women and farmers.

 

He further stated that in the past 6 years, while Lagos State has received $928.02 bn worth of investments in manufacturing and agro-processing, Ogun State received $1.7trn in the same sectors within the same period. This he said reflected the opportunities that existed in Ogun State, commonly referred to as Nigeria's Industrial Hub.

 

Speaking on investment opportunities in Ogun State, the Governor noted that the State had a varied portfolio of opportunities in key economic sectors such as agriculture by taking advantage of the 74% arable land in the state, while manufacturing, mining, and trade jointly constituted 65% of the State's gross state product.

 

Highlighting some of the factories currently producing in the State, the Governor mentioned Dangote, Nestle, Lafarge, Coleman Cables, Unilever, May & Baker, International Breweries, Procter & Gamble amongst others. These factories contributed to the estimated N41bn Internally Generated Revenue (IGR) of the state.


In terms of the transportation system, the State Governor noted that the state has been able to develop the transportation network through rehabilitation of the roads leading to an industrial hub. This would improve the access of commuters around the zone and allow for more factories and investments.

 

Speaking on youth empowerment and job creation, Governor Abiodun said the state recently created a portal; The Ogun State Job/Employment Portal, to keep a track record of the unemployed and underemployed in the state. He thereafter called on the private sectors in the State to connect to the portal for skillful and enterprising youths as it pertained to their respective organizations.

 

Governor Abiodun assured investors of policy and regulatory reforms to support the ease of doing business in the state.


Proshare Nigeria Pvt. Ltd.


Related News

1.      NBCC Forum: Stakeholders Review Private Equity and Economic Gains For Nigeria

2.     NBCC Forum: Why Value Chain Resilience Is Important For Businesses

3.     NBCC Forum: Stakeholders Call for Increased Investments In Broadband Infrastructure

4.     NBCC Project Hope Complex To Serve As A Facilitation Center For Nigeria-British Trade

5.     AfCFTA: Revamping Nigeria's Infrastructure for Global Trade

6.     Trademark Licensing in Nigeria

7.     AfCFTA: Business Editors Call for the Identification of Pockets of Competitiveness in Nigeria

8.     African Trade Finance Sees $5bn in Portfolio Outflows in Q1 2020 Due to COVID-19

9.     AFCFTA Offer Significant Opportunities for the Nigerian Private Sector to Expand

10.  Trade Hub Launches a Virtual DealRoom Connecting Investors to Fast-Growing Impact Businesses

 

 Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP