Business

FG, Odu’a, DAWN Commission, NIPC collaborate to set up farms, factories, mining firms, others

Large farms, agro-allied firms, mining firms and factories are all part of a partnership on investment embarked upon by the Federal Government, Odu’a Investments Limited, the Development Agenda for Western Nigeria (DAWN) Commission and the Nigerian Investments Promotion Council (NIPC).

The collaboration is to boost investments in Southwest Nigeria, a region, the Group Managing Director (GMD) of Odu’a, Mr Adewale Raji, stressed was replete with countless investment opportunities.

The leadership of the three organizations met at the Cocoa House, Ibadan headquarters of Odu’a on Tuesday to explore and fine tune strategies for the plan.

In a short presentation, Raji disclosed that Odu’a has rolled out an ambitious plan to invest massively in agriculture and agro-allied industry. He said the plan, christened Integrated Agric Project, is to see the setting up of large farms and processing factories in the host communities.

Raji said that the plan will create huge employment opportunities, transform host communities economically, increase farmers’ profitability and drive industrial and economic growth in the South West.

He said the company has the mandate of the six Southwest states to champion the economic project, adding that it will not have government control to give room for effectiveness.

He also disclosed that the company has already acquired 4,000 hectares of land in four states for the purpose, stressing that it would welcome investors in the entire production and value-adding chain.

Acting Director General of DAWN Commission, Mr Seye Oyeleye, revealed that the commission, in partnership with the Federal Ministry of Solid Minerals, was already mapping solid mineral resources in the region for the production of a brochure that can guide investors.

Commending the work being done by Odu’a and DAWN Commission, the NIPC Executive Secretary, Ms Yewande Sadiku, revealed that her commission has introduced the idea of promoting local investments.

According to her, many wealthy Nigerians should be encouraged to invest on Nigerian projects instead of focusing only on foreign investors.

Sadiku stressed that investments was the country’s way out of recession, adding that states are key in investment promotion because the states host the investments, whether local or foreign.

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