…as South Africa-Nigeria Business Chamber pledges to spearhead investment drive
Having showcased investment opportunities abound in the State, coupled with the economic incentives offered for existing and prospective investors, the South Africa-Nigeria Business Chamber has pledged to spearhead aggressive investment drive for Ogun State, funding series of investments to drive economic growth and development in the State.
The assurance came against the backdrop of a day investment webinar organised by Ogun State Investment Promotion and Facilitation Agency (OgunInvest) in partnership with South Africa-Nigeria Business Chamber, weekend.
Speaking on the competitive and comparative advantages Ogun State has over other States in the Country, Dapo Okubadejo, Chief Economic Adviser and Commissioner for Finance, noted State’s extensive infrastructural development with focuses on roads, aviation, transportation, housing, security, coupled with seamless land acquisitions, land titles document applications, among others.
Okubadejo, who spoke in company of Adebola Sofela, Commissioner for Industry, Trade and Investment, and Gbenga Dairo, Commissioner for Transportation, declared that the business facilitation processes in the State had also been streamlined as part of Government’s efforts to sustain the position of Ogun State as industrial and investment hub of the nation.
While alluding to rich deposits of solid minerals as another comparative advantages Ogun State has over others, Okubadejo said the webinar’s key objective was to promote investment across several key sectors integral to the State’s economic growth, such as Agriculture, Manufacturing, Energy, Transport, Housing, and Digital Economy, underscoring the unique opportunities available for businesses to benefit from being located within free trade zones, which significantly enhance their growth potentials and success.
The Chief Economic Adviser said OgunInvest serves as a one-stop shop for the smooth establishment and operation of businesses, adding that the State’s proximity to Lagos adds to its attractiveness, offering significant logistical advantages as the State parades a dual-purpose agro-cargo airport, alternative energy solutions such as Compressed Natural Gas (CNG), electric vehicles, proposed rail lines network, connecting nation’s commercial nerve centre, Lagos, among other economic incentives.
Okubadejo however noted that Administration of Governor Dapo Abiodun is committed to providing focused, qualitative governance and creating an enabling environment for public-private partnerships, which are crucial for sustainable economic development and individual prosperity in the State, emphasising the State’s competitive labour cost and a skilled workforce, which are contributing to its leadership position in terms of Internal Generated Revenue (IGR) growth, as reported by BudgIT in the State of the State 2023 report.
Responding, Diana Games, the Chief Executive Officer (CEO) of the South Africa-Nigeria Business Chamber, expressed the Chamber’s readiness to partnering Ogun State in various sectors of economy, especially as it regards possible investments in Agriculture, Digital Economy, Agribusiness, Solid Minerals, emphasizing the State’s strategic positioning and manpower as key elements for potential investors.
Games pledged South Africa-Nigeria Business Chamber’s commitment to aggressively driving foreign direct investments (FDIs) through an investment funding meant to drive economic growth and development, thereby, sustaining Ogun State’s position as a premier investment destination in the Country.
“The wealth of opportunity in Ogun State is extraordinary. We are committed to supporting the State’s development ambitions, particularly in terms of funding investments that will drive economic growth and position Ogun State as a premier investment destination”, Games added.
