RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

Make Nigeria Better By Ayo Akinfe. Today’s Focus: Ogun State

Rate Captain by Rate Captain
July 22, 2024
in Business, Economy, macroeconomy, Money Market, Politics
Reading Time: 3 mins read
A A
0
Make Nigeria Better By Ayo Akinfe. Today’s Focus: Ogun State
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Ogun is one state in Nigeria that is capitalizing on its strategic location. Currently, about 90% of the foreign direct investment entering Nigeria goes to Lagos State, with Ogun benefiting from this spillover. Moving forward, Ogun needs to leverage this advantage further, much like how Mexico has benefited from the expansion of the US automobile industry.

AlsoRead

Dangote Targets $5 Billion IPO to Fund Refinery Expansion to 1.4 Million Barrels per Day

Nigerian Equities Lose N599 Billion as Nestlé and First HoldCo Weigh on Market

NNPC Reduces Petrol Price to N1,299 as Competition Intensifies with MRS and Depots

Nigeria is a 36-cylinder economy, but unfortunately, only one of these cylinders is currently operating near full capacity. It is clear that Ogun will be the first state to follow Lagos in becoming self-reliant and self-funding, moving away from dependence on federal allocations. However, significant investment in infrastructure is necessary to realize this dream, posing a substantial challenge for the Ogun State government.

Given the chronic housing shortage in Lagos State, Ogun needs to build dedicated housing projects across its southern border areas in places like Mowe, Sango-Otta, and Omu. We need to see purpose-built towns with large housing estates providing accommodation for millions of workers employed in Lagos. Governor Dapo Abiodun should actively seek to attract property developers worldwide to participate in this initiative.

Governor Abiodun also needs to launch an Ogun Railway Company. This franchise should run hourly trains to Lagos from towns like Ifo, Ewekoro, Abeokuta, Sango-Otta, Ijebu Ode, Sagamu, Ikenne, Ipara, and Ifo. Residents should be able to live in these towns and commute to Lagos efficiently, with a reliable train service ensuring a travel time of under an hour.

To elevate Ogun State’s industrial development, the state government must prioritize developing the Iwopin Deep Sea Port. Many may not be aware, but Iwopin is the southernmost point of Ogun State, bordering the Atlantic Ocean in Ogun Waterside Local Government Area. The state government should consider building a port comparable in size to Apapa, complete with a freight rail link to prevent the congestion and environmental issues faced by Apapa.

In the eastern part of Ogun State, there is significant potential for agricultural expansion in the Yewa region. Crops like ofada rice, maize, cassava, yams, plantains, bananas, cocoa, kolanuts, rubber, palm oil, tobacco, cotton, and timber are grown there. Urban centers such as Ilaro, Ikpokia, Oke-Odan, Ado-Odo, and Imeko should be transformed into industrial hubs with processing plants. Ogun State, being the top producer of kolanuts and ofada rice in Nigeria, should host the world’s largest processing plants for these commodities.

Ogun State is also rich in building raw materials like limestone, chalk, phosphate, and gravel. If I were the governor, I would establish the world’s largest aggregate plant in places like Kajola, Odogbolu, or Ikenne, making it a central source for building materials in the country.

Tourism is another lucrative area for Ogun State. The Ijebu, Oju-Ode Festival is rapidly becoming Nigeria’s answer to the Notting Hill or Rio carnivals. This event needs more investment to enhance its appeal, including new hotels, restaurants, bars, and amusement facilities in Ijebu Ode.

Ogun State also has a rich tradition of metalworking and blacksmithing, with the name Ogun also being associated with the Yoruba god of metalworking. The state government should capitalize on this by establishing a steelworks in the area. Kajola, which houses a railway carriage assembly plant, is an ideal location for such a facility.

Intellectually, Abeokuta has always been at the forefront of Nigerian development. It was the center of the first freed slaves’ colony in Nigeria, producing notable figures like the Ransome-Kutis and Soyinkas. Although land disputes prevented it from becoming home to Nigeria’s first university, Abeokuta still houses the Neuropsychiatric Hospital, popularly known as Aro. If I were the governor, I would develop Abeokuta into a global center for the treatment and research of every known tropical disease and ailment, boosting the healthcare and pharmaceutical industries significantly.

Tags: #LagosAbeokutaagricultural expansionEconomic Growthforeign direct investmentHealthcarehousing projectsIndustrial DevelopmentIwopin Deep Sea PortmetalworkingOgun Railway CompanyOgun Statetourism
Previous Post

eNaira Accounts for Less Than 1% of Circulating Currency

Next Post

IMF Lists Top 10 African Nations with Highest Debt Burdens

Related News

Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Dangote Targets $5 Billion IPO to Fund Refinery Expansion to 1.4 Million Barrels per Day

by Akpan Edidong
August 5, 2026
0

Dangote Petroleum Refinery & Petrochemicals FZE is seeking to raise about $5 billion through an Initial Public Offering expected to...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

Nigerian Equities Lose N599 Billion as Nestlé and First HoldCo Weigh on Market

by Jide Omodele
August 5, 2026
0

The Nigerian equities market reversed Monday’s gains on Tuesday, shedding approximately N599 billion in market capitalisation as investors took profits...

NNPCL to Supply Dangote Oil Refinery With Crude Oil For Testing

NNPC Reduces Petrol Price to N1,299 as Competition Intensifies with MRS and Depots

by Akpan Edidong
August 5, 2026
0

The Nigerian National Petroleum Company Limited has cut the pump price of petrol from N1,335 to N1,299 per litre, a...

Naira Depreciation Forces Imports Down By 65% in Q3, 2023

Nigeria Earns N24 Trillion from Crude Exports in First Half of 2026

by Victoria Attah
August 3, 2026
0

Nigeria exported an estimated 182.2 million barrels of crude oil valued at N24.02 trillion in the first six months of...

Next Post
IMF Lists Top 10 African Nations with Highest Debt Burdens

IMF Lists Top 10 African Nations with Highest Debt Burdens

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

FCMB Group Plc Reports Remarkable 108% Year-on-Year Profit Growth in 9M 2023

Court Dismisses N100 Million Privacy Breach Suit Against FCMB

August 6, 2026
NDIC Begins Verification Exercise for Insured Depositors of Defunct Peak Merchant Bank.

NDIC Begins Payments to Depositors of 46 Closed Microfinance Banks

August 6, 2026

Popular Story

  • FCMB Group Plc Reports Remarkable 108% Year-on-Year Profit Growth in 9M 2023

    Court Dismisses N100 Million Privacy Breach Suit Against FCMB

    0 shares
    Share 0 Tweet 0
  • Canada Names Eight Firms That Can Hire Nigerians Without LMIA 

    0 shares
    Share 0 Tweet 0
  • NDIC Begins Payments to Depositors of 46 Closed Microfinance Banks

    0 shares
    Share 0 Tweet 0
  • Nigerian Firms Rebound Strongly in 2025 After Naira Devaluation Losses

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>