Aiyedatiwa launches Diaspora Smart City, attracts foreign investors
As a proactive measure aimed at economic diversification and self-sufficiency, the Ondo State Governor, Lucky Aiyedatiwa, has approved the establishment of an investment hub known as Diaspora Smart City (DSC) in Akure, the state’s capital.
Aiyedatiwa, who made the announcement at a ceremony to celebrate the 64th Independence Anniversary of Nigeria, expressed concern over the state’s reliance on monthly revenue from the Federation Accounts Allocation Committee (FAAC).
He stated that the DSC was conceived by his administration as a hub for global business and tourism, thus affirming one of the government’s cardinal programmes to advance the frontiers of economic prosperity and improve the living standards of the people.
He added that the hub is also a valuable tool for attracting foreign investors to consider Ondo State.
Speaking during the ceremony in Akure, Aiyedatiwa said, “We are deliberately diversifying the state’s economy from reliance on FAAC revenue by leveraging the state’s natural and strategic advantages in tourism and agriculture.
“The conception of the Diaspora Smart City in Akure, aimed at attracting international investment and positioning Ondo State as a hub for global business and tourism, is one of our cardinal programmes to advance the frontiers of economic prosperity and abundant life in our dear state.”
He also recalled notable strides made by his administration to improve the quality of life for the citizenry.
“In light of the invaluable gains we have made, we shall remain steadfast, considerate, and empathetic, continuing to raise the bar of passionate leadership in our determination to alleviate the impacts of the present economic hardship and bring comfort to our people.
“This we have demonstrated with the resuscitation of the Free Shuttle Buses as a social safety net for students; the groundbreaking infrastructural re-engineering; stable health sector reforms; the O’Datiwa mass meter distribution to eliminate estimated billings and darkness; investments in critical segments of our economy; and relief packages to mitigate the impact of rising costs of food and social services, as well as unabated inflation occasioned by the painful but necessary removal of the fuel subsidy and strategic human capital development,” he highlighted.
Meanwhile, the Commissioner for Regional Integration and Diaspora Relations, Prince Boye Ologbese, also disclosed to newsmen recently that activities were expected to commence soon at the Diaspora Smart City, branded as the Green Economy Initiative.
He said this was the outcome of the weekly meeting of the State Executive Council (EXCO) held at the Governor’s Office in Akure on Monday, July 22, 2024.
“The project is expected to be a tourism hub for the Southwest and a vehicle for the region’s development.
“It represents a complete diversification of the economy, especially as artificial intelligence is moving ahead of crude oil as a source of revenue,” Ologbese disclosed.
The commissioner also informed that he recently toured Moscow in Russia and China twice for bilateral talks on investment opportunities in Ondo State.
“The last of such visits was to Wuhan, China, where I participated in the Green Economy Initiative for Developing Countries, and while there, I had fruitful discussions with investment agents at the School of Economics, Huazhong University of Science and Technology, Wuhan,” he recalled.