Ondo Investment Summit To Attract $2 Billion, Create 70,000 New Jobs: Deputy Governor

The three-day investment summit titled "Develop Ondo 2.0 Investment Summit" is believed to attract $2 billion in investment and create over 70,000 new jobs, the state of Ondo's Deputy Governor Lucky Aiyedatiwa said Monday.

This investment summit, held from July 24 to July 26, will also engage 100 donor partners and 1,500 investors in the state. The summit has been organized by the state government in collaboration with the European Union and the United Nations Development Programme (UNDP) to show opportunities and potential for investment in Ondo State.

"These targets demonstrate our ambitious vision for a vibrant and thriving economy that uplifts our people and enriches their lives," Aiyedatiwa said, according to media outlet Punch. "The response from potential investors thus far has been highly encouraging, with growing interest in exploring the investment opportunities that Ondo State offers."

"Our previous summit has borne witness to remarkable success stories, illustrating the effectiveness of this platform in attracting investments and fostering economic growth in our state and enormous value to our partners and investors," he added.

The governor recalled one of the success stories from last year's summit, which resulted in inaugurating the "Red Gold Project."

"Notably, the 'Red Gold Project,' an agricultural initiative implemented by the Ondo State Government, has gained significant traction," he said. "This project focuses on promoting the cultivation and processing of oil palm, another major cash crop in Ondo State."

"The "Red Gold Project" stands as a testament to our State's commitment to agricultural reforms and the empowerment of our farmers."

Aiyedatiwa pointed out that there were several investors who have shown keen "interest in agricultural projects, leading to the establishment of large-scale farms, agro-processing facilities, and fruitful partnerships with local farmers."

"This summit is the second of its kind, building upon the success of its precursor, 'Develop Ondo 1.0,'" Aiyedatiwa said about last year's event. "It serves as a platform to connect stakeholders from diverse sectors, facilitating constructive dialogue, knowledge sharing, and forging of strategic partnerships that will be the catalyst for accelerated development in our state."

Aside from Aiyedatiwa, Ondo State Performance and Project Implementation Monitoring Unit, Director General Babajide Akeredolu also talked about how the unit played an important role in fostering collaboration among diverse stakeholders.

Akeredolu noted that the state's actions have secured the support of the UNDP and the European Union.

"Through these and many more collaborative engagements within and outside the state, the PPIMU has ensured that critical stakeholders are identified and encouraged to play crucial roles in contributing to the summit's objectives," Akeredolu explained.

Ondo State is located in southwestern Nigeria, and Aiyedatiwa has been serving as deputy governor since 2021.