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Dapo Abiodun seeks partnership with Brazilian investors to build fertiliser plant in Ogun

Dapo Abiodun, Ogun state governor, says Brazilian investors are welcome to partner with the state to set up a fertiliser plant in the Olokola region as part of the proposed liquefied natural gas (LNG) project.

Abiodun spoke at the state investment summit held in Rio de Janeiro, Brazil, on the sidelines of the BRICS summit.

The event was attended by President Bola Ahmed Tinubu, ministers, five governors, and other government officials.

The summit is reportedly part of the investment drive of Abiodun’s administration for the state’s development.

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The governor described Ogun as investor-friendly and one of the most developed states in Nigeria.

“We have a region in our state that is the deepest sea point in Nigeria, called the Olokola region, where there is an Olokola gas project in the offing,” the governor said.

“This place has been identified as the right location to have a fertilizer plant. So, we welcome partners from Brazil to set up a fertilizer plant with us in Ogun State.”

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Abiodun said the state is ready for investment in oil and gas, livestock, mining, agriculture, power plant development, renewable energy, tourism, and technical and vocational training for youths.

In December 2024, the governor signed the N1.054 trillion 2025 appropriation bill into law while unveiling plans for the state’s seaport.

In his remarks, Yusuf Tuggar, the minister of foreign affairs, described Ogun as one of the most industrialised states in Nigeria.

“There’s a lot that already exists in terms of the backbone for industries, which is why Ogun is very industrialized. It is one of the most industrialized states in Nigeria,” Tuggar said.

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On his part, Wale Edun, minister of finance and coordinating minister of the economy, said Nigeria is on the right track in terms of growth, inflation, and external positioning.

Also speaking, Yemi Cardoso, governor of the Central Bank of Nigeria (CBN), said Nigeria’s financial system has been stable since the present administration came on board.

Cardoso added that Nigeria has a very tight monitoring system that ensures inflation is gradually beginning to trend downward.

He said the significance of this is that the foundation for growth is being established.

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