er plant

Fidelis David in Akure

In a major investment breakthrough, Ondo State Governor, Lucky Aiyedatiwa and his Bauchi State counterpart, Senator Bala Mohammed, have partnered to attract a whopping $2.6 billion investment in the state. 

The investment, which will be used to establish a fertiliser production and petrochemical plant, is expected to significantly boost the coastal state’s economy, generate thousands of jobs, and enhance agricultural productivity and industrial development. 

The development was disclosed during a meeting between the two governors in Akure, the Ondo State capital, where the investor, Dr. Abbas Waziri, Executive Director of Residents Group Cement, accompanied Governor Mohammed.

Governor Aiyedatiwa appreciated the Bauchi State governor for facilitating the opportunity for Ondo State, stressing that this keys into his administration’s efforts to improve on the economy and provide jobs for the teeming youths in the state. 

“I want to specially thank Governor Bala Mohammed for this development and for personally visiting us here. I have also watched what you are doing in Bauchi State; you’ve done so well for your people, partnering with local and international investors to develop your state and that is what we are doing here too.”

The governor took the opportunity to outline concrete steps already being taken towards the actualisation of the long-awaited Ondo Deep Seaport project, which he described as a game-changer for the state’s economic growth.

“We have the longest coastline in Nigeria with the deepest draft. It has always been there but for some reasons it has not been tapped but this time around, the last administration started the process which I’m trying to complete now to build a deep seaport, a first in Nigeria that can take a modern vessel, Aiyedatiwa said.

On the planned establishment of “Residents Group Cement and Petrochemical Plant” in Ondo State, Aiyedatiwa confirmed that more investors are already indicating interest to tap into the state’s vast natural resources.

Aiyedatiwa added, “We are ready and we are building the necessary infrastructure already. I just flagged off the dualisation of Igbokoda to Okitipupa Road and the 2nd Phase will be from Okitipupa to Ore. So, before you finish building your plant the roads would have been completed.

“The topography is beautiful. Anything petrochemical, refinery, seaport in that axis, we have the space and it is also a free trade zone. All of this will be of benefit to investors and also to us as a people. So, I want to thank you for choosing Ondo State for this major investment.”

The governor said all is set for the smooth take-off of operations, assuring them of a business-friendly environment, promising a serene atmosphere and maximum security of lives and property across the state.

Earlier, the Governor of Bauchi State, Mohammed, commended Governor Aiyedatiwa for taking bold steps to reposition Ondo as a preferred destination for investors.

He lauded Aiyedatiwa’s efforts in unbundling alternative sources of revenue beyond the federation account, describing it as a model worthy of emulation.

Mohammed stated that both states, under a peer review mechanism, are committed to attracting investors for the benefit of their people.

“Far away in Bauchi, we have been watching you with keen interest. What you are doing here, there is a lot of similarity between us, providing our people with leverages and latitude to exploit their capabilities and find alternatives to earn a living to actualise their aspirations,” Mohammed said.

The Bauchi governor revealed that in his quest to drive development in his state, Residents Group Cement has already established a 1.5 billion Dollars cement factory in Bauchi State and therefore expressed interest in replicating the same investment in Ondo State.

Also, the Investor, Dr. Waziri, said his company will invest in fertiliser production and harmonial plants as well as other petrol chemical outlets in Ondo State.

“We are looking at investing 2.6 billion Dollars in the State and within 12 months it would be ready,” Waziri said, while commending the working relationship between the Ondo and Bauchi governors.