Ondo open to offering incentives to attract local, foreign investments – Gov
By John Odunayo
Ondo State Governor, Hon Lucky Aiyedatiwa, said on Thursday that his administration is open to offering incentives to attract both local and foreign investments into the economy of the State to drive development.
Aiyedatiwa said that Ondo State is wide open for investors to do business with the many natural and mineral resources in the state and plans of the government to develop a deep sea port and enhance infrastructure.
This was as the Chairman of Owena Bitumen Exploration Nigeria Limited, Alhaji Musa Ibrahim Mantu, said that the company had secured approximately one billion dollars in financing from Europe and aims to deploy advanced bitumen technology with the support of world-class partners within the next 12 months.
A statement by the Chief Press Secretary to the Governor, Prince Ebenezer Adeniyan, said that the duo spoke when the company leadership visited the governor in his office.
The team, which included expatriates from Italy and France, represents the company globally and specializes in mining, refining, and processing of bitumen and other allied resources.
Mantu said, “The primary goal is to explore bitumen in Ondo State, with a processing plant already under construction in Ijebu Ode, projected to be the largest in the world.
“The company has secured approximately $1b in financing from Europe and aims to deploy advanced bitumen technology with the support of world-class partners within the next 12 months”.
He added that their collaboration would leverage local raw materials with their technological expertise to process resources independently, minimizing the need for crude oil transportation.
Aiyedatiwa expressed optimism about the partnership, noting its potential benefits, including employment creation and local economic stimulation, despite the refinery being located in Ijebu Ode, just a short drive from Ondo State.
The governor said that the development of the Ondo Sea Port, construction of Araromi to Lekki Road and the newly flagged off Lagos-Calabar Coastal Highway, which will pass through the port corridor, will boost the Bitumen exploration venture.
He assured the delegation of the government’s cooperation, particularly in ensuring a secure and conducive business environment.
While thanking the team for the interest in investing in the state, Governor Aiyedatiwa said the government would review the proposal submitted by the company.
