Dapo Abiodun flags off development of $1.8bn industrial park in Ogun

 Dapo Abiodun, Ogun state governor, says the $1.8 billion Lee
Group industrial park will create about 15,000 direct and oblique jobs,
accommodate 29 manufacturing firms, and additional strengthen the state’s
place as Nigeria’s main industrial vacation spot.

 

Abiodun spoke on Thursday on the groundbreaking ceremony of
the 450-hectare facility, describing the funding as a lift to the state’s
industrialisation drive and an endorsement of its business-friendly
surroundings.

The governor mentioned the venture would broaden manufacturing
actions, stimulate financial progress and create employment alternatives,
notably for younger Nigerians.

He mentioned Lee Group’s choice to ascertain its first
industrial park in Ogun displays traders’ confidence within the state’s financial
potential, strategic location, and infrastructure.

“Your choice to ascertain this primary industrial park in
our expensive state is a transparent demonstration of confidence in our financial
potential, our industrial local weather and the large alternatives that Ogun
State affords,” Abiodun mentioned.

He mentioned the financial advantages would lengthen past the 29
factories deliberate for its first part, creating alternatives for small and
medium-scale enterprises concerned in logistics, transportation, warehousing,
packaging, tools upkeep, catering, safety and development.

The governor mentioned elevated industrial actions would
stimulate demand for housing, retail companies, transportation and different
important providers, with surrounding communities additionally benefiting from the
funding.

According to Abiodun, Ogun’s proximity to Lagos, Nigeria’s
industrial and monetary hub, coupled with entry to main home and
worldwide markets, provides the state a aggressive benefit as an funding
vacation spot.

He reaffirmed his administration’s dedication to offering
the infrastructure, insurance policies and enterprise surroundings required to maintain
investments and help industrial enlargement.

“Our focus will not be merely to draw industries to Ogun
State, however to construct an interconnected industrial ecosystem the place massive
producers, SMEs, service suppliers and communities can all profit from
elevated financial actions,” he mentioned.

FG TO BREAK GROUND ON 17,000-HECTARE SUGAR FARM IN NIGER

Speaking on the occasion, John Enoh, minister of state for
trade, commerce and funding, mentioned the federal authorities’s Nigerian
funding coverage is designed to draw home and international capital,
diversify the economic system and encourage the event of business parks.

Enoh disclosed that the federal authorities would maintain
one other groundbreaking ceremony in Niger state inside the subsequent month for a
17,000-hectare built-in sugar farm.

He mentioned investments such because the Lee Group industrial park
would assist Nigeria transfer from exporting uncooked supplies to producing and exporting
completed items.

The minister recommended Abiodun for creating an surroundings
conducive to funding, describing Ogun as the commercial hub of the nation.

Earlier, Sheau Fung Lee, chairman of Lee Group of Companies,
mentioned the venture marks one other milestone within the firm’s funding in
Nigeria, which started in 1962 with the institution of an enamelware manufacturing unit in
Port Harcourt.

Lee mentioned the group, which at the moment employs about 26,000
individuals, has expanded its operations throughout a number of sectors of the economic system.

He mentioned the proposed industrial park would accommodate 29
manufacturing firms working in sectors akin to meals and drinks,
industrial help merchandise, footwear, private care merchandise, automation and
plastics recycling.

The chairman attributed the funding to the group’s
confidence in Nigeria’s market dimension, inhabitants, and financial potential.

Also talking, Oba Babatunde Ajayi, the paramount ruler of
Remoland, welcomed the funding and pledged the help of the standard
establishment and host communities.

However, he urged the corporate to make sure that residents
profit from the venture by employment alternatives, native contracts and
company social duty programmes.

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