Plans are underway for the establishment of a fertilizer production and harmonial plant, as well as a petrochemical industry in Ondo State within the next one year.
According to the state government, the massive investment, valued at $2.6 billion, is expected to significantly boost the state’s economy, generate thousands of jobs and enhance agricultural productivity and industrial development.
The development came to light after a meeting between the Ondo state government and the investor, the Executive Director of RESIDENTS GROUP CEMENT.
Dr. Abbas Waziri came in company of Bauchi state Governor, Bala Muhammed who visited Akure, the Ondo State capital.
Governor Aiyedatiwa appreciated the Bauchi State Governor for facilitating the opportunity for Ondo State, stressing that this keys into his administration’s efforts to improve on the economy and provide jobs for the teeming youths in the State.
“I want to specially thank Governor Bala Mohammed for this development and for personally visiting us here. I have also watched what you are doing in Bauchi State; you’ve done so well for your people, partnering with local and international investors to develop your state and that is what we are doing here too.”
The Governor also outlined concrete steps already being taken towards the actualization of the long-awaited Ondo Deep Seaport project, which he described as a game-changer for the state’s economic growth.
“We have the longest coastline in Nigeria with the deepest draft. It has always been there but for some reasons it has not been tapped but this time around, the last administration started the process which am trying to complete it now to build a deep seaport, a first in Nigeria that can take a modern vessel.”
On the planned establishment of Residents Group Cement and Petrochemical Plant in Ondo State, Governor Aiyedatiwa confirmed that more investors are already indicating interest to tap into the state’s vast natural resources.
“We are ready and we are building the necessary infrastructure already. I just flagged off the dualization of Igbokoda to Okitipupa road and the 2nd phase will be from Okitipupa to Ore. So, before you finish building your plant the roads would have been completed.
“The topography is beautiful. Anything petrochemical, refinery, seaport in that axis, we have the space and it is also a free trade zone. All of this will be of benefit to investors and also to us as a people. So, I want to thank you for choosing Ondo State for this major investment.”
After a meeting with the investor and his team, the Governor said all is set for the smooth take-off of operations. He assured them of a business-friendly environment, promising a serene atmosphere and maximum security of lives and property across the state.
Senator Mohammed stated that both states, under a peer review mechanism, are committed to attracting investors for the benefit of their people.
“Far away in Bauchi, we have been watching you with keen interest. What you are doing here, there is alot of similarity between us, providing our people with leverages and latitude to exploit their capabilities and find alternatives to earn a living to actualize their aspirations.”
He revealed that in his quest to drive development in his state, Residents Group Cement has already establish a 1.5 Billion Dollars cement factory in Bauchi State and therefore expressed interest in replicating the same investment in Ondo State.
The Investor, Dr. Abbas Waziri, said his company will invest in fertilizer production and harmonial plant as well as other petrol chemical outlets in Ondo State.
“We are looking at investing 2.6 Billion Dollars in the State and within 12 months it would be ready.”
Those present at the meeting included the Deputy Governor, Dr Olayide Adelami, Secretary to the State Government, Dr Taiwo Fasoranti, Chief of Staff to the Governor, Prince Segun Omojuwa and the Administrative Secretary of the Ondo State Investment Promotion Agency (ONDIPA), Barr Emmanuel Omomowo.
