Stepping into the realm of investment possibilities, the Ogun State Investment Promotion and Facilitation Agency (OgunInvest) recently orchestrated an investment webinar to fortify its positioning as a premier investment destination within Nigeria and beyond. In collaboration with international chambers of commerce, the webinar aimed to showcase the investment opportunities in Ogun State, attract potential investors, and accentuate the benefits of investing in the state to a global audience. By highlighting strategic advantages and sector-specific prospects, the event sought to foster understanding and dialogue between investors and government officials.
The interactive platform delved into key sectors such as Agriculture, Manufacturing, Energy, Transport, Housing, Information & Communication Technology (ICT), and more, offering insights into potential returns on investment. Through this engagement, foreign investors gained valuable information on the investment landscape in Ogun State, along with solutions to potential challenges they might encounter.
The credit for the success of the event on July 26, 2024, goes to Governor Dapo Abiodun for spearheading the establishment of OgunInvest. The agency, under the leadership of Miss Sola Arobieke, serves to bolster economic ties, disseminate information on government support, and provide essential services to facilitate investments.
Established by law in 2019, OgunInvest envisions positioning Ogun State as the industrial and logistics hub of Nigeria, nurturing an investor-friendly environment to attract domestic and international investments for economic growth. By simplifying investment processes and offering comprehensive support services, the agency propels Ogun State as the desired investment locale in Nigeria.
Striving to streamline investment procedures, OgunInvest functions as a one-stop solution for investors, guiding them through inquiries, regulatory requirements, and post-investment services. The agency also advocates for policy reforms to enhance the state’s business environment and encourage investment activities.
Moreover, the overarching mission of OgunInvest aligns with the South Africa-Nigeria Business Chamber’s objective to foster trade and investment between both countries. By facilitating partnerships and advocating for conducive business environments, the chamber underpins sustainable economic growth in South Africa and Nigeria.
The recent engagement between the Ogun State government and the South Africa-Nigeria Business Chamber laid the groundwork for future events aimed at showcasing the region’s business potential and attracting foreign investments. Highlighting key sectors and growth opportunities within Ogun State, the webinar provided a platform for stakeholders to exchange insights and forge strategic alliances.
Embracing technological advancements, the webinar utilized platforms such as Zoom, YouTube Live, and Facebook to amplify the investment prospects in Ogun State, promising lucrative returns for potential investors.
Addressing the audience, State Commissioner for Finance, Mr. Dapo Okubadejo, emphasized the state government’s commitment to enhancing security measures and fostering a conducive business environment. He underscored the vast potential in sectors like agriculture, infrastructure, education, real estate, transportation, and ICT, inviting investors to explore the diverse investment opportunities within the state.
Situated near the nation’s economic hub, Lagos, Ogun State stands out as an ideal destination for investors.
Highlighting the state’s rich mineral resources, he mentioned limestone, bitumen, sulphate, granite, and clay as some of the key minerals present in Ogun State, making it potentially the foremost in the country.
Despite the presence of these resources, only a few are currently being utilized, with limestone being the most developed, hosting the largest cement companies in the country.
He emphasized the state’s collaboration with the Federal Government to facilitate joint ventures or partnerships with foreign investors keen on tapping into these mineral opportunities.
Moreover, the state government has established business clusters and developed an aerotropolis that encompasses processing zones, along with amenities like greenhouses, residential areas, and hospitality services, all geared towards welcoming investors.
The Chief Economic Adviser also cited prospects in the power sector, particularly with the government’s focus shifting towards sustainable electricity generation to drive industrial and economic advancement, key priorities under the Tinubu administration.
Suggesting ventures in solar panel manufacturing, independent power generation, and distribution, he also revealed initiatives like Free Trade Zones in Olokola and Ogun Waterside, as well as a Dry Port in Kajola, Abeokuta, aimed at elevating the state’s industrial landscape.
Addressing the ease of doing business, the commissioner mentioned the establishment of an investment facilitation agency offering a one-stop solution, aiding in inquiries, providing detailed investment information, and guiding investors through regulatory processes to streamline business setups.
Furthermore, with ample skilled manpower from various higher institutions within the state, investors stand to benefit from tax incentives and other perks that support their ventures.
Similarly, the Commissioner for Transportation highlighted the state’s comprehensive transportation plan covering road, rail, and sea networks, inviting investments in rail systems, airport operations, and technology integration for efficient transport services.
He accentuated the untapped potential in the state’s tourism sector as a lucrative avenue for investment opportunities.
Echoing this sentiment, the Commissioner for Industry, Trade, and Investment emphasized strides made in land administration, complementing security efforts to foster a conducive business environment.
He also emphasized the promotion of the local ‘adire’ fabric to a global audience, stressing the need for leveraging modern technology for enhanced fabric production.
Written by Ogbonnikan in Abeokuta, the capital of Ogun State.