Ogun State Paves Way for Higher Investments in 2017

By December 16, 2016 Investment News

Parts of the promises made by Ogun State Governor, Ibikunle Amosun for 2017 are to reduce youth unemployment, enhance poverty alleviation and provide socio-economic empowerment through infrastructure development to attract new investments for further industrialisation.

But admitting that the economic environment is very challenging, he insisted that it was crucial to reposition the state economy, given that its traditional revenue sources, mainly from the Federation Accounts, are under serious pressure, even as the outlook remained uncertain.

To achieve these, a whole lot of considerations had to be made, and factored into the proposals for the 2017 Appropriation Bill, which he tagged: ‘Budget of Repositioning’, which the governor presented to the State House of Assembly on November 22nd.

Specific proposals in the budget to achieve set targets were in the areas of health, agriculture, commerce and industry, housing and urban development and a host of others.

Specifically, to boost employment generation, he said the state will among others; “acquire an additional 100,000 hectares of agricultural land for allocation to genuine and sincere investors to promote commercial farming in the State.

“Intensify the production of horticultural crops using greenhouse technology. Promote open field cultivation through the installation of irrigation facilities for all-season production with particular emphasis on tomatoes, pepper and other vegetables.

“Develop arable and perennial exportable crops through the establishment and expansion of Cocoa, Oil Palm, Cotton, Kola and Cashew plantations; produce maize, rice seeds and cassava cuttings for sale to farmers at highly subsidised rates; and invest in poultry livestock and fishery to boost protein supply to our citizenry.”

Furthermore, to drive investments in the state, Amosu said priority will be given to the development of industrial parks in Onijanganjangan, Sagamu and Igbesa; reconstitute the Board of Ogun State Agricultural and Multipurpose Credit Agency (OSAMCA) to ensure that they are able to facilitate the Micro Small and Medium Enterprises (MSMEs) development programme of the State.

In recognition of the importance of adequate housing for all, he said his government will provide land for 10 Hectares Housing Estates in three locations, develop 650 Hectares of land with infrastructure for medium and heavy industrial factories at Agbara, and commence the development of the Abeokuta City Centre in the coming year.

Part of the plan is also to construct a world-class convention centre, provide infrastructural facilities on the remaining 450 Hectares of the President Muhammadu Buhari Estate, and crop enumeration and compensation of land owners of acquired land.

Amosu noted that the vast potential of Ogun State cannot be denied, as it has the potential to build economic strength through Agriculture, Solid Minerals, Trade, Tourism, Services as well as Commerce and Industry, which when vigorously pursued will translate into opportunities, productivity and wealth for the people.

Source: <Guardian NG>