…lists cocoa, bitumen, blue economy as state’s growth pillars
•British envoy pledges partnership, confirms $40m investment in cocoa sector
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.
“This is the land of cocoa,” he said. “It was from cocoa that the late Chief Obafemi Awolowo developed the Western Region, building Africa’s first television station, the Cocoa House and several other infrastructures. Ondo is still leading in cocoa production today.”
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.
“In the past, the UK was a donor, giving aid to support development,” he said. “But now, it’s about partnership, working together through institutions like the World Bank, AfDB and others to strengthen our economy, create jobs and build sustainable systems.”
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.
“Before now, Nigeria was almost at the brink of collapse,” he said. “But today, the reforms are yielding results. We can now pay salaries, settle gratuities and invest in key sectors like agriculture and security.”
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.
“We have major investors such as JohnVents and Olatunde, who are into cocoa export and processing,” he noted. “JD Farms and Sow AgroServices are also making significant impact in palm production. Rex, a British firm, is involved in tree planting, and we continue to create an enabling environment for such investors.”
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).
“Our government is business-friendly,” he said. “We are deliberate about security, ease of doing business, and providing the right atmosphere for investors to thrive.”
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.
“Our relationship with Nigeria is now a partnership of equals,” Baxter said. “For instance, the British International Investment (BII) has invested over $40 million in JohnVents here in Ondo to rehabilitate cocoa plantations. We are focused on investments that will benefit both countries.”
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).
“The aim is to make capital more affordable and accessible for Nigerian businesses,” he said. “If we can reduce the cost of capital, more Nigerian institutions will grow stronger and drive economic development.”
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.
“The best form of development is private sector-led growth,” he said. “Governments don’t have limitless resources, but they can manage risks and support businesses to unlock economic value.”
The British envoy commended Governor Aiyedatiwa for his leadership and congratulated him on his child’s recent graduation, describing it as a reflection of Nigeria’s rising profile on the global stage.
“It’s wonderful to be here in the Sunshine State,” Baxter said. “We look forward to more engagements that will strengthen the UK–Ondo partnership and open up new economic opportunities.”
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; and Commissioner for Energy and Mineral Resources, Engr. Johnson Alabi.
Others are Commissioner for Regional Integration and Diaspora Relations, Otunba Wale Akinlosotu; Commissioner for Women Affairs and Social Development, Mrs Seun Osamaye; Commissioner for Agriculture and Forestry, Engr. Leye Akinola; Commissioner for Commerce and Industry, Pastor Bola Ademuwagun; Commissioner for Youth and Sports Development, Mr Segun Omoyofunmi; Commissioner for Culture and Tourism, Mr Adesoji Afolabi; Commissioner for Health, Dr Banji Ajaka; Commissioner for Information, Mr Idowu Ajanaku; Commissioner for Education, Science and Technology, Prof. Igbekele Ajibefun.
Also include Commissioner for Infrastructure, Lands and Housing, Engr. Abiola Olawoye; Commissioner for Finance, Mrs Omowumi Isaac; Commissioner for Water Resources and Public Hygiene, Hon. Ayodele Akande; Special Adviser on Health to the Governor, Dr Simidele Odimayo; Chairman, SUBEB, Rt. Hon. Victor Olabimtan; DG, OSRC Media Group, Mr Kenneth Odusola-Stevenson; among others.