Qatar’s largest dairy company, Baladna, has said its recent visit to Ogun State was exploratory.

This statement came after the Ogun State Government posted on X that Baladna was “set to establish a multi-million dollar food and dairy facility” in the state.

Governor Dapo Abiodun shared photos of the visit on social media, saying the dairy company planned to bring their business to Ogun.

The state also said the project would create jobs, help food production, and reduce the billions Nigeria spends every year on importing dairy products.

But Baladna later told The Guardian Nigeria that the visit was only for fact-finding and that no agreement was made.

“We would like to clarify that, at this stage, we are only exploring potential avenues for cooperation and there are no agreements or announced projects regarding a dairy investment in Ogun State, Nigeria,” Baladna said.

Baladna explained that it is a public company listed on the Qatar Stock Exchange, and it must follow strict rules. If a deal had been made, it would have been shared on the company’s official website first.

The company stated, “Please note that Baladna is a publicly listed company on the Qatar Stock Exchange and, as such, is subject to strict disclosure requirements regulated by the Qatar Financial Markets Authority and other relevant bodies. Accordingly, any public announcements or press statements regarding our operations or investments must be disclosed through official regulatory channels before being communicated to the public.

“In light of the above, no press release or public statement regarding any potential investment by Baladna may be issued by any party without following the proper legal procedures and formal disclosure by us to the competent regulatory authorities in Qatar. Furthermore, the use of Baladna’s name thereof without prior written consent is strictly unauthorised.”

After Baladna’s statement, Governor Abiodun’s media aide, Kayode Akinmade, also clarified that no deal has been signed.

The visit by Baladna’s team was a preliminary fact-finding mission, not a finalised investment agreement, Akinmade clarified in an interview with The Guardian Nigeria, stating that “there is no signed agreement between Ogun State and Baladna.”

According to Akinmade, the state government presented its strengths, such as available land, proximity to Lagos, and a favourable investment climate, but the discussions were preliminary.

He also pushed back against suggestions that the visit was misrepresented, pointing to media coverage of the event.

Akinmade stated, “Nothing has been finalised. They came to explore opportunities; they came here to prospect about what they can bring to the table. So Ogun state also told them, okay, well, we have land, we have this. We are close to Lagos. We have this. It was covered on both TV and newspapers, unless the people who came are not the true representatives of Baladna.”