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‘Investment summit ‘ll boost Ondo’s economy’

By Francis Akinnodi

Ondo State Government has stated that the second edition of its investment summit would improve the state’s investment capacity, target investors who would explore the untapped natural resources in the state.

The Hope reports that the summit, christened ” Develop Ondo 2.0″ to be declared opened by President Bola Tinubu, is designed to focus on the blue economy, energy, gas, tourism and agriculture slated to hold from July 24 to 26, 2023 at the Dome International Culture and Event Centre, Akure.

According to the Chairman, Develop Ondo Summit Planning Committee, Mr. Razaq Obe, explained that the summit, which has the theme ”Developing Possibilities” is to improve the state’s investment capacity, adding that the state is targeting investors who would explore the untapped natural resources in the state.

”The deep seaport, which the state has gotten the licence to build and operate, is one of the major sectors the state is yearning to engage investors who would partner with the state to build.

”The focus of the state is to attract investment into the state that would complement the existing ones and also help build the local cottage industries as well as mop up the unemployment market.”

Obe, who is also the state’s Commissioner for Energy and Mineral Resources, said the summit would address trends and opportunities for oil and non-oil sector in the national and regional markets, focusing on the national policy and strategy to engage investors on regional investment cooperation, agriculture, tourism, oil and gas business,  manufacturing, logistic and industrial hub, new energy technologies and financing solutions.

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Speaking on the state’s desire to Invest in the energy sector, he noted that the state government has already mapped out the state into different cluster off-takers in order of their demands.

“We are going to exploit the new bill on power assented to law by President Bola Tinubu which granted right to states to generate and distribute power for the development of our state.

“Though we already have communities which are enjoying power supply from solar mini grids, we are going to engage more investors in the sector and we are going to alot to them the mapped out cluster offtakers according to magnitude of power they would generate and the demands in such areas.

“This would help us in sustenance of existing and new industries that berth in the state. Our cottage industries also would experience boost and more would spring up as well as resuscitating moribund ones.

“There’s no doubt, power is a major contributory factor to industrialization, we are not relenting on ensuring improvement on power supply across the state.”

Obe added that at the Investment Summit, the state would acquaint the investors with list of opportunities abound in the state, noting that doing business in the state has become easy as bureaucratic bottlenecks had been removed.

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