Ondo State Governor, Lucky Aiyedatiwa, has vowed to leave no stone unturned in his drive to industrialise the state and revive moribund state-owned industries through strategic investments and public-private partnerships.
The governor’s Chief Press Secretary, Prince Ebenezer Adeniyan, disclosed this at the maiden edition of a quarterly press conference organised by his office in Akure at the weekend.
Adeniyan said Governor Aiyedatiwa was determined to transform Ondo State from a largely civil service-driven economy into an industrial hub capable of attracting investments, creating jobs and diversifying government revenue.
According to him, the state government has signed several Memoranda of Understanding with private investors to revive moribund industries and establish new ones across the state.
He said investors had also indicated interest in establishing a power-generating station, petroleum industries and other major industrial projects.
“Governor Aiyedatiwa is driving the economic transformation of Ondo State. The administration continues to attract major investments towards the development of the Ondo Deep Sea Port, refinery, Free Trade Zone and fertiliser plant, while also supporting SMEs and agro-processing industries,” Adeniyan said.
He added that the administration’s reforms were aimed at making the state an attractive investment destination where businesses could operate with confidence.
“The administration’s policy reforms are designed to make Ondo State an attractive investment destination where businesses can operate with confidence, thereby creating jobs and diversifying government revenue,” he said.
Adeniyan said the investment drive had contributed to the return of the Dangote Group to the state, with plans to establish what he described as Nigeria’s largest industrial zone in Ondo State.
He added that several moribund industries were already being considered for revival through Public-Private Partnership concessions.
According to the governor’s spokesman, the state has signed investment agreements covering several major projects, including a proposed $50 billion investment involving Backbone Infrastructure Nigeria Limited and Sunshine Infrastructure JV.
Other proposed projects, he said, include a 500,000 barrels-per-day refinery, a 1,471-hectare Free Trade Zone in Ilaje, and a $4 billion petrochemical, fertiliser and cement project.
Adeniyan said the governor had also identified reliable electricity as a critical foundation for the state’s industrialisation drive.
He said the government was pursuing several initiatives under its OUR EASE Agenda to improve power supply and reduce the cost of electricity for businesses and households.
“Power remains a key pillar of the OUR EASE Agenda. This administration’s strategy combines regulation, alternative energy, consumer protection and infrastructure development while laying the foundation for state-level electricity generation,” he said.
Adeniyan listed the Light-Up programme, Lucky Light Solar Programme, O’Datiwa Mass Metering Programme and the proposed establishment of a regulatory commission as some of the measures being pursued to improve electricity reliability.
He added that the State Executive Council had approved a $1.6 million, 350-kilowatt hydropower project and a 7.5-megawatt gas-fired turbine to power government facilities across the state.
The government, he said, had also commenced the distribution of transformers to communities to improve electricity supply.
