Private foreign investors have injected about $350million into Ondo state to boost its economy.
Making the revelation over the weekend, the Manager of Ondo-Linyi Industrial Hub in Ore, Ondo state, Chief Alexander Ajipe, said the funds were injected into the state economy with a view to boosting the economy and creating more development.
Ajipe, who was also the Chief Executive Officer of Klick Konnect Network Intl. Ltd made the disclosure while speaking with the members of the Correspondent Chapel of the Nigerian Union of Journalists (NUJ) in Akure.
The manager explained that the achievement was recorded as part of promises made by the Governor Oluwarotimi Akeredolu to change the narrative of the state from been the civil servant state to industrial oriented.
Ajipe, who noted that over 95 per cent of the MoU signed by previous administrations did not see the light of the day, said under the Akeredolu-led administration, 95 per cent of the MoU signed had been implemented to date.
“Before the advent of this present administration in 2016, there was no public industry in Ondo state that was functioning like OluwaGlass, Ifon Ceramic, Ile-Oluji Cocoa plantation have all disappeared because of mismanagement and loss of focus which make the state fritter away its industrialisation opportunity and tag as civil servant state.
“As at last count, we have over $350million of foreign direct investment that has been imported into the state, apart from the one converted to structure and has confirmed by the Ministry of Trade and Investment.
“We actually have 15 different companies that are coming into the phase one of Ondo-Linyi Industrial Hub at the moment but 7 companies have commenced operations. So, we still have 8 to go.
“Some of companies are truck assembly plants, textile industry producing thread that use to produce lace fabric and now we are installing machine to produce Ankara fabric.
“Also, we have MDF factory which is the first and only type in Nigeria as well as ethanol factory.
“We are still going to see battery, plastic, cooler, polythene factory and others coming to the state, which will help create employment and empowerment to the people of the state.
“We now see why investors can take Ondo State very seriously in the area of try to exploit the potential thing we have,” he said.
