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Investors sign deals as ODSG targets job opportunities through industrialization

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The continued efforts to industrialize Ondo State and create jobs for the unemployed by the Oluwarotimi Akeredolu Administration have attracted yet another set of investors into diverse sectors of the state economy.

The latest investors, five of them, are: Bambi Farms Limited; Integrated Associates Limited; Premium & Nelson Limited; Alpha Mead Development Company Limited and Kladet Services Limited.

At the ceremony held at Executive Chamber of the Governor’s Office where they came up to sign Memorandum of Understandings, MoUs, with the State Government on their respective areas of business interest, Governor Akeredolu noted that the development would further improve the socio-economic landscape of the Sunshine State.

He attributed part of his priority to industrialize the state to his quest to provide employment opportunities for youths and improve the state’s Internally Generated Revenue, IGR, to enlarge the frontiers of growth and development of the state.

Arakunrin Akeredolu said his administration was also committed to the rapid transformation of the state, hence, the signing of the Memorandum of Understandings and Agreements of Concessions.

While commending the investors for making the state their destination of choice, Governor Akeredolu said their coming into the state would contribute to the transformation of the state when their services become fully operational.

He said the state is blessed with the most veritable tourist centres, like the famous Idanre Hills and the Idanre Golf Course which he also enjoined the investors to look into for possible partnership with the state.

Commenting on the investible prospects of the International Cultural and Events Center, The Dome, the governor said the State Government would not have such asset waste away.

Arakunrin Akeredolu who further said his administration would continue to partner genuine investors to develop the state, stressed the importance of private sector investments to drive development across the sectors of the state.

He urged the companies to get down to business immediately after the MoUs and Agreements were signed in order for each of them to deliver speedily on their respective areas of business interest.

Introducing the five investing companies, the Secretary of the Ondo State Investment and Promotion Agency, ONDIPA, Mr Emmanuel Omomowo outlined the areas of partnership with the companies.

According to the Secretary, Alpha Mead Development Company Limited, would partner with the state on the renovation, management and operation lease of the Ondo State International Cultural and Events Center ,The Dome,

He said the Company which would manage the facility for a period of 15 years, will complete such areas like the waterfalls, landscaping, the kitchen and others that are yet to be completed.

“In the first 5 years, it would pay 40 million naira or 10 percent of the gross revenue. In the last 10 years, it would pay 25 percent of the gross revenue to the state government and the company is to complete the critical components of this project in the first 12 months, while the non-critical components will be completed within the first 5 years of the concession”, he said.

According to the ONDIPA Secretary, the Integrated Associate Limited would develop the Sunshine Housing Estate Project of (350 blocks containing 396 Units) on 32.56 Hectares of land along Oda road, Akure.

“Bambi Farms Limited is saddled with the development, operation and management of Oil Palm Plantation on 1,000 hectares of land in Ore Agribusiness, Ore, Ondo state.

“Premium and Nelson Limited will see to the development of the Government Reserved Area, GRA, with modern infrastructure on Sunprime Estate in Abo-Ashaakin Community, off Akure/Owo Expressway, opposite Akure Airport, Akure.

“Kladet Services Limited, will work on the management of statutory Revenue collection on Fisheries in Ondo State”, he stated.

Speaking with Government House Reporters the Managing Director of Premium & Nelson Limited, Mr Ralph Alabi described the signing of an Mou on the new GRA as a bold step at addressing the housing problems in the state.

He said the GRA will provide as much as 12,000 plots of land with facilities and amenities to enhance a better housing, adding that the State Government believes in the provisions of road, water and infrastructure before people build houses of their choices, rather than people building ahead of infrastructure.

Mr Alabi added that the project, when completed, would provide easy access to inhabitants of Abo-Ashaakin community from their homes, to their respective places of work, business and recreation.

Also the Chief Executive Officer of Alpha Mead Development Company, Engineer Femi Akintunde lauded the present administration for its desire to develop the state and for recognizing its limitations, in terms of financial capacity to continue to deliver development projects without involving the private sector.

“It is another way of empowering youths of the state because private sector brings in efficiency which comes with some capacity development and empowerment. We are going to engage people of the state and train them to work with us.

“The Concession Agreement will also improve the earning capacity of the state government. We are going to stop the situation whereby government has been spending to maintain an asset.

“We will reverse the trend, rather than government spending, we will generate revenue and the state will begin to make more money from the assets and the services available through efficient management of the facility would be of good use to the public”, he said.

Secretary to the Ondo State Government, Hon Ifedayo Abegunde and the Special Adviser to the Governor on Investment and Development who is also the Chief Executive Officer of ONDIPA, Mr Boye Oyewumi signed for the State Government while two top officials of each of the companies signed their respective deals.

Some members of the State Executive Council including the Chief of Staff to the Governor, Chief Olugbenga Ale and the Senior Special Assistant to the Governor on Agric and Agribusiness, Pastor Akin Olotu with top officials of the Ondo State Investment and Promotion Agency, ONDIPA, were present at the ceremony.

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