BrandArena: Ogun State Becoming A Mecca For Investors

Tuesday 7 October 2014

Ogun State Becoming A Mecca For Investors

When Senator Ibikunle Amosun emerged as the governor of Ogun State, he pledged to embark on transformation projects that will cut across every sector and reposition the state to it rightful place as one of the bedrocks of civilization in Nigeria and West Africa.

In fulfilling his promise, Governor Amosun has left no stone unturned by rebuilding every sector.

In no time, the gateway state has attracted 50 new firms and investment work $10bn - a huge boost in the state's economy.

Ogun is currently considered an investment hub, especially for manufacturers who now are ramping up investments on plant there, while having offices in Lagos or any other part of the country. Agbara, particularly, has become an industry cluster and is developing into a mega city, with hotels and businesses.

Recently, the West African Ceramics Limited pledged a $50 million investment there, even when its head office is at Ajaokuta, Kogi State.

Procter & Gamble (P&G) is investing $300 million for the establishment of its plant for the production of personal care products. So many other firms have also announced investments in the city or have already begun production. Firms such as Unilever, Evans Medical, Tower Group, among others, also have plants in the state.

During a get-together meeting between the National Assembly and the private sector, represented by the Lagos Chamber of Commerce and Industry (LCCI), the state's commissioner for commerce and industry, Bimbo Ashiru said the development in the state is an indication of a clement business environment in Ogun, as the continuing improvement in the investment in the state should be extended across the nation.

Investors in Agbara had even committed some of their resources to developing the area as they recently agreed to contribute 30 percent to a road construction while the government contributes 70 percent, Ashiru said, stating that the road would soon be commissioned.

Due to the influx of firms in the state, Ogun has Ota-Agbara Chamber of Commerce and Abeokuta Chamber of Commerce, unlike the practice in some states where there is only one chamber of commerce.

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