…lists cocoa, bitumen, blue economy as state’s growth pillars
By Fisayo Akinduro
Ondo State Governor, Hon. Lucky Aiyedatiwa, has urged British investors to tap into the state’s abundant natural and economic resources, reaffirming his administration’s readiness to deepen development ties with the United Kingdom.
The governor made the call on Wednesday while receiving the British Deputy High Commissioner to Nigeria, Mr. Jonny Baxter, and his team at the Governor’s Office in Akure.
Aiyedatiwa, who described Ondo as a land of vast opportunities, told the delegation that the state remains Nigeria’s largest cocoa producer, contributing about 40 per cent of the country’s total output.
He noted that Ondo, created in 1976 from the old Western Region, is endowed with bitumen, coal, gold, gas and other mineral resources, alongside expansive arable land suitable for agriculture.
Welcoming the visiting team, which included the Deputy Political Commissioner, Janet Baxter; Senior Political Adviser, Wale Adebadu; Private Sector Adviser for Finance and Investment, Ms Tevi Hake Demadi, and Digital Communication Lead, Ms Ifeoluwa Hatuludu, the governor said the state’s population stands at 5.3 million, with a landmass of 15,500 square kilometres.
He disclosed that Ondo’s Gross Domestic Product (GDP) is approximately ₦5.1 trillion, ranking seventh among Nigeria’s 36 states.
Highlighting the state’s strategic advantages, Aiyedatiwa noted that Ondo has the longest coastline in Nigeria, which serves as a major gateway to international trade.
He added that plans were underway to develop a deep seaport to boost exports and unlock the state’s blue economy potential.
He emphasised that Nigeria’s relationship with the United Kingdom had evolved from colonial and donor dependency into a partnership centred on investment and institutional collaboration.
Aiyedatiwa commended President Bola Tinubu’s economic reforms, noting that while the policies initially caused hardship, they had begun to stabilise the economy, enabling states like Ondo to perform better financially.
The governor listed major cocoa investors in the state, including JohnVents, Sunbeth and Olatunde, adding that some were expanding their processing facilities to increase value addition to local produce.
Aiyedatiwa also revealed that his administration had established a one-stop investment office to assist new investors from documentation to full operations, assuring that the state had significantly improved its security architecture to support business stability.
He mentioned new projects, including a modular refinery and an upcoming chemical plant, both backed by investors working with the Ondo State Development and Investment Promotion Agency (ONDIPA).
Responding, the British Deputy High Commissioner, Jonny Baxter, said his visit was aimed at exploring areas of collaboration and investment between the United Kingdom and Ondo State.
Baxter, who expressed delight at the state’s development potential, said the UK’s engagement with Nigeria had shifted from donor aid to direct investment partnerships that promote shared prosperity.
He added that BII also provides funding to Nigerian banks to help reduce interest rates and expand credit access for small and medium-sized enterprises (SMEs).
Baxter noted that the UK government was eager to understand Ondo’s public-private partnership models and identify areas where British institutions could complement the state’s economic agenda.
In attendance were the Deputy Governor, Dr. Olayide Adelami; Speaker, Ondo State House of Assembly, Chief Olamide Oladiji; Deputy Speaker, Rt. Hon. Ololade Gbegudu; Chief of Staff, Prince Segun Omojuwa; Head of Service, Mr Bayo Philip; Attorney-General and Commissioner for Justice, Dr Olukayode Ajulo, SAN; Commissioner for Energy and Mineral Resources, Engr. Johnson Alabi, among other dignitaries.