Investors eye huge investment in Ogun

A cross-section of investors and entrepreneurs in manufacturing and agro-allied sectors of economy have foreseen massive investment in Atan-Igbesa-Agbara as well as Agbado-Akute and Magboro-Ojodu axis of Ogun State when the current infrastructure upgrade, especially various road constructions currently undertaken by the state government, are completed.

Various proposals on different types of investment, including real sector and micro, small and medium-scale enterprises came against the backdrop of 37.65km Agbara, Atan, Lusada-Igbesa and Lusada Alapoti roads construction in Ado Odo/Ota Local Government; $3.5 billion inter-city light rail project linking major cities and about 60km Ijoko-Agbado-Magboro-Ojodu road construction.

It would be recalled that Governor Ibikunle Amosun pledged to start construction of 37.65km Atan-Igbesa-Agbara road and a light rail project linking Agbara and other major cities in the state at the commissioning of Allied Atlantic Distilleries, ethanol plant in Igbesa last year, which he later approved for re-construction into four lanes, though a Federal Government-owned.

According to Lekan Adegbite, commissioner for works and infrastructure, the roads would be reconstructed into four lanes while Lusada-Alapoti road that links Ogun Gunagdong Free Trade Zone would be in two lanes with a four lane carriage way grade separator at Lusada junction.

He said the road projects when completed would also ensure reduction of travel time, especially with the Average Daily Traffic (ADT) volume of 115,750 vehicles per day that was above the capacity of the roads presently, revealing that contractors had been mobilised to site and the road project was expected to be completed within 24 months.

Speaking on the envisaged investment and economic development expected in few months,

Wale Adegbite, chiarman, Manufacturers Association of Nigeria (MAN), Ogun State chapter, said appreciable commitments would come from investors and entrepreneurs once the roads were started, especially in Igbesa-Agbara axis, saying the road incentive would surely drive in more investors.

“A wonderful news story for we, manufacturers; we are very much excited about that. I believe transportation is a very key infrastructure and in as much as His Excellency, Senator Ibikunle Amosun, the excutive governor of Ogun State has awarded the important road in the state; Atan-Igbesa-Agbara, we, the manufacturers should be excited.

“Because, the road when completed, will reduce the cost of production and transportation of raw materials to our factories and haulage of finished goods to market will be quicker and easier, thereby improving industrialization and stimulating economy. So, by so doing more and more investors and investment are expected to come in a few months,” he said.

An investor in Agbara, Cynthia Saka, managing director, T. Cynthia Nigeria Limited, said the re-construction works on Atan-Igbesa-Agbara roads, in addition to a 5.2km earlier constructed by Ogun State Property and Investment Corporation (OPIC) and some investors in Agbara, would reduce cost of production and haulage and thereby improving the economy.

“It is a good development and big encouragement for investors. The reconstruction of Atan-Igbesa-Agbara road, the Ogun State investment hub as being embarked upon by Governor Ibikunle Amosun of Ogun State will reduce the cost of haulage and production; it will make our industries accessible and easier to transport raw materials and finished goods.

“Infact, the road construction in that axis will bring more investment; more companies will spring up in the area and the adjoining towns and cities within the state. This will, in the long run, bring about a mutual benefit between the investors and government,” she said.

Also, Rahman Maku, secretary, Abeokuta Chamber of Commerce, Industries, Mines and Agriculture (ABEOCCIMA), a chapel under Ogun State Chamber of Commerce, Industries, Mines and Agriculture (OGUNCCIMA) was of the opinion that the reconstruction would soar investment in facets of economy, including manufacturing, agriculture, property and MSMEs.

“The road construction will raise the bar of infrastructure in the area and it is just important like other part of the state. However, it will, to a large extent, bring about huge economic development considering the fact that Atan-Igbesa-Agabara in Ado-Odo/Ota Local Government is an investment hub of the state,” he said.

 

RAZAQ AYINLA