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

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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
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