Ogun State Governor, Dapo Abiodun, announced on Tuesday that his administration is set to sign a $10 million investment deal with a Moroccan firm in the coming weeks, as reported by several media reports. The deal will focus on utilizing palm oil by-products in the state. Abiodun made the announcement during a meeting with Aisha Rimi, Managing Director of the Nigerian Investment Promotion Commission (NIPC), and other officials from the company Jose Batista Sobrinho, including Fabio Maia and Osorio Dal Bello, in Abeokuta, the state capital. He revealed that while in Morocco the previous week, potential investors expressed interest in palm oil by-products, which are typically discarded. The agreement would involve exporting an initial $10 million worth of these by-products.

Additionally, Abiodun shared plans to launch a timber processing zone soon and mentioned that Ogun State had recently established its own inland port. He highlighted the importance of this port for local manufacturers, as it would reduce the inefficiencies caused by congestion at the Lagos port. The new facility will serve as a free trade zone where containers can be sent directly from the Lagos port to Ogun State without additional clearance, improving logistics for businesses in the area.

The governor also emphasized Ogun's commitment to becoming a leader in agro-processing. He noted that the state was the first in Nigeria to develop agro-processing zones, with Ogun being one of the six such zones recently established by the Federal Government. Abiodun further explained that the state has dedicated a specific area for livestock production, with a special focus on creating a robust ecosystem for agro-processing businesses to thrive. He mentioned ongoing discussions with Botswana on a potential partnership to establish a ranch and feedlot for goats and cattle, with the aim of improving the local livestock industry.

Abiodun also pointed out that Ogun State is a major contributor to the cattle industry, with up to 15,000 cattle slaughtered daily in Lagos, many of which come from Ogun. He praised the state's agro-processing zone, which includes a special agro-airport for the export of perishable goods, ensuring that products can be processed, packaged, and flown out efficiently.

Highlighting Ogun's attractiveness to foreign investors, Abiodun mentioned JBS, a leading global supplier of beef and pork, which is investing $2.5 million in Nigeria. JBS plans to build multiple processing plants in the country. Abiodun stated that the state offers an ideal business environment for companies like JBS and emphasized that if the company chooses Ogun State, its business venture with Botswana would be discontinued. Aisha Rimi, from the NIPC, noted that JBS's visit followed a recent MoU signed between the Federal Government and JBS for livestock production, showcasing the growing interest in the state’s agricultural opportunities.