Ogun Now Has N16trn Economy, Abiodun says as MAG Group Pledges $2.5bn Disneyland Investment
Ogun State Governor, Prince Dapo Abiodun, has disclosed that the state economy has increased fourfold, jumping from N3.5 trillion to N16 trillion in the last six years.
This was just as the state secured an investment pledge in the range of $1.8 billion to $2.5 billion.
Prince Abiodun made the disclosure when he met with Messrs. Fayad Fayad, the Strategic Advisor, and Hassan Fayad, Public Relations and Communication Officer of MAG Group, who paid him a courtesy call in his office at Oke-Mosan, Abeokuta.
The governor also revealed that the state’s foremost tourist center, Olumo Rock in Abeokuta, generates about N20 million on a weekly basis after its renovation, compared to the same amount generated yearly before the turnaround of the tourist center.
According to the governor, Ogun State has, in the last six years, grown in leaps and bounds in the areas of economic development, improved infrastructure, provision of basic amenities, and reinvigorated tourist centers across the state.
He said: "We are one of the two best-performing states in Nigeria. We are the fastest-growing economy in the country. Our economy, between 2019 and 2025, has quadrupled from N3.5 trillion to N16 trillion."
Governor Abiodun expressed surprise at the number of people turning out to visit Olumo Rock after its renovation, noting that it was an indication that if tourist sites were well maintained and functional, they could provide an alternative place for relaxation and revenue generation.
He lauded the organization for choosing the state to invest in tourism, hotels, and recreation, adding that apart from the conducive business environment, it is blessed with a large land mass, good infrastructure, and the necessary human capital.
"I don't have any doubt about the competitive advantage of this state. All the ingredients that you need for the patronage of a large leisure facility are here, and I think that you have not made any error in coming as we provide the best option for investments," he said.
Responding, the Strategic Adviser, MAG Group, Fayad Fayad, said his organization is bringing an investment worth between $1.8 billion and $2.5 billion that would focus on hospitality and entertainment.
"We are very happy to be here today in Ogun State; we are very proud to initiate this project. This is definitely the first project, and it is between the range of $1.8 billion to $2.5 billion. Very soon, you will hear very good news.
"There is an initiative that we presented to His Excellency, which is about having a Disneyland resort within Ogun State; it will be the first in Africa.
"It is a huge project for entertainment and tourism. There will be parks, entertainment, hotels, and water parks.
"We have a lot of projects to do together; we can see the vision, we can see the leadership, and we can see the growth of the economy. Hopefully, we will work side by side with Ogun State, and the sky is the limit," he submitted.
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