Ogun charts paths to sustainable wealth creation

If the outcome of the third edition of the Ogun State Investors’ Forum, which recently held is anything to go by, the state might be on its way to joining the league of enterprising and goal-driven states that are set to unlock their agricultural potentials.

For two days, participants, comprising domestic and international investors, sector experts, investment brokers, technical partners, high-level state and Federal Government officials, entrepreneurs and industrialists gathered in Abeokuta, the state capital, to set the state firmly on the path to economic prosperity.

Tagged, Emerging Economic Powerhouse, with three areas of focus: Agriculture, Environment and Transportation, Governor Ibikunle Amosun said his administration is nailing its colours to the mast in the belief that innovations in agriculture, environment and transport can unlock the doors to sustainable wealth creation.

One of the key areas the forum was aimed at achieving was to aggressively promote agriculture, which has been identified as the pivot of industrialisation plan; and to effectively harness its rich mineral resources by encouraging existing and potential investors in this sector.

In his address, the governor highlighted that the vision of the state for agriculture includes expansion into agro-processing industries along the value chain. “Currently, only about 20 per cent of farm produce is processed, the rest is either sold as cash crops or left to rot due to insufficient processing capacity. Some of the areas in agriculture that present the most viable business opportunities for investors are palm oil and palm kernel, rubber, aquaculture, and livestock. Among the diverse uses of palm kernel and palm oil are natural cooking oil, vegetable-based soap, cosmetic toilet soap, and feedstock for bio-diesel production.

“In Ogun State, we have the dura, piscifera and the tenera varieties. In fact, the tenera is renowned for producing the highest oil content. Presently, we have oil palm plantations located in the eight farm settlements in Ado-Odo, Ajegunle, Ago-Iwoye, Coker, Ibiade, Ikenne, Ilewo and Sawonjo. Collectively, the settlements have over 43,000 hectares of agricultural land available while, only 8,022 hectares are being utilised. We have natural rubber, para-rubber and the hevea brasiliensis. It is used in the manufacture of a number of industrial products, including tyres, balls and numerous other items. Rubber plantations in Ogun State are located at Ibiade and Ikenne. Collectively, both settlements have about 500 hectares of rubber plantation.”

He claimed that the state was the first in the country to adopt an Agro-Politan Development Strategy, a development paradigm that ensures that millions of its citizens engaged in the agricultural value chain and were able to prosper where they are located.

“The Agro-Politan Development Strategy emphasises the localisation of primary production and manufacture. The goal is to enhance the incomes and welfare of the rural areas through the acceleration of integrated regional development. By this, we will embark on rural and urban linkages that encourage development of agric-business network. The objective is a populace-based, competitive, sustainable and decentralised agro-politan region,” he said.

The Minister of Agriculture and Rural Development, Audu Ogbeh, one of the resource persons at the forum, stated that based on the state’s proximity to Lagos State and its investment-friendly disposition, which has attracted more corporate organisations and industries into it lately, it is evident that it will be a key beneficiary of the Federal Government’s policy drive of enhanced agro production and export in its areas of comparative advantage.

He said cassava and rice (ofada) production, as well as kolanut; poultry and aquaculture are distinct areas of comparative advantage in the state, which should be attractive to investors in the agricultural sector.  “In addition, investment on existing processing facilities such as, cottage industries for High Quality Cassava Flour (HQCF), industrial starch, sweeteners and Ethanol will require deepening and further consolidation.”

While assuring of government’s resolve to improve access to credit by farmers, by removing the existing barriers; empowering the youths and women to engage them meaningfully in agriculture, he urged investors to consider partnering with the state in water management and provision of irrigation facilities and services to promote dry season farming.

“Fortunately, Ogun is abundantly blessed with its own fair share of water resources that can be harnessed for irrigation for enhanced agricultural production and agri-business.  Another window of opportunity is increasing tractor density in the country for enhanced agricultural production through land acquisition, preparation and ownership. The Federal Government is already partnering with state governments, including Ogun State, in this regard, through the agricultural equipment hiring,” he stated.