Abiodun: Ogun Economy Now Worth N16Trn ... As MAc Group Pledges $2.5bn Disneyland Investment.

Governor of Ogun State, Prince Dapo Abiodun, has disclosed that the state's economy has increased over 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 US$1.8 to $2.5 billion.

Prince Abiodun made the disclosure when he met with Messr 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 centre, Olumo Rock in Abeokuta, generates about N20 million on weekly basis after its renovation, compared to the same amount generated yearly before the turn around of the tourist centre.

Abiodun added that 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 centres across the state.

He said, "We are one of the two great performing states in Nigeria. We are the fastest growing economy in the country. Our economy between 2019 and 2025 has quadruple from N3.5 trillion to N16 trillion."

Expressing surprise at the number of people visiting the Olumo Rock after its renovation, Governor Abiodun noted 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 organisation for choosing the state to invest in tourism, hotels and recreation investment, adding that apart from the conducive business environment, it is blessed with large land mass, good infrastructure and needed human capital.

He added, "I don't have a doubt about the competitive advantage of this state. All the ingredients that you need for the patronage of a large leisure facility is here and I think that you have not made any error in coming as we provide the best option for investments."

In his response, the Strategic Adviser, MAC 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.

Fayad added, "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 US$1.8 to US$2.5 billion dollars. Very soon, you will hear a 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, we can see the growth of the economy. Hopefully, we will work side by side with Ogun State and the sky is the limit."

Story by - Jide Gold