Ogun State Governor, Prince Dapo Abiodun, has called on investors from Brazil to explore the vast economic potential in Ogun by partnering with the state in sectors such as oil and gas, livestock, tourism, mining, and renewable energy.
Abiodun made this appeal during the Ogun State Investment Summit held in Rio de Janeiro, Brazil, on the sidelines of the BRIC Summit, which was attended by President Bola Tinubu, five Nigerian governors, federal ministers, and other top government officials.
While emphasizing Ogun’s readiness for international partnerships, the governor noted that the Olokola Liquefied Natural Gas (LNG) corridor offers a prime opportunity for a fertilizer plant due to its location at the deepest sea point in Nigeria. He urged Brazilian businesses to consider setting up operations there as part of a broader collaboration.
“We have a region in our state that is the deepest sea point in Nigeria, called the Olokola region, where there is an Olokola gas project in the offing. This place has been identified as the right location to have a fertilizer plant. So, we welcome partners from Brazil to set up a fertilizer plant with us in Ogun State,” Abiodun stated.
He further outlined other sectors open to investment, including technical and vocational training, agriculture, and power generation, adding that Ogun remains one of the most industrialized and business-friendly states in Nigeria.
Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, echoed this sentiment, describing Ogun as one of the most industrialized states in the country, with a solid industrial backbone already in place.
“There’s a lot that already exists in terms of the backbone for industries, which is why Ogun is very industrialized. It is one of the most industrialized states in Nigeria,” Tuggar said.
Also speaking at the event, Finance Minister and Coordinating Minister of the Economy, Wale Edun, said Nigeria is on the right path in terms of inflation control, economic growth, and external positioning.
Central Bank Governor, Yemi Cardoso, affirmed that Nigeria’s financial system has regained stability, noting a sustained trend of declining inflation.
“In Nigeria today, we have stability in our financial system. We have a very tight monitoring system that ensures that inflation is gradually beginning to trend downward. The significance is that the foundation for growth is being established,” Cardoso said.
