Dapo Abiodun announces expansion of Ogun state’s economy from N3.5 trillion to N16 trillion

Ogun State Governor, Prince Dapo Abiodun, announced that the state’s economy has expanded significantly from N3.5 trillion to N16 trillion over the past six years.

He made this announcement while receiving Messrs. Fayad Fayad, Strategic Advisor, and Hassan Fayad, Public Relations and Communication Officer of MAG Group, who visited him at his office in Oke-Mosan, Abeokuta. Additionally, the state has secured an investment commitment estimated between $1.8 billion and $2.5 billion.

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The governor highlighted that Olumo Rock, the state’s main tourist attraction in Abeokuta, now earns approximately N20 million weekly following renovations, a substantial increase from its previous annual earnings. Abiodun emphasized that Ogun State has seen remarkable progress in economic development, infrastructure enhancement, basic amenities, and rejuvenated tourist sites over the past six years.

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 was astonished by the large turnout of visitors to Olumo Rock following its renovation, emphasizing that this wells-maintained and operational tourist attractions can serve as valuable options for relaxation and income generation. He praised the organization for selecting the state to invest in tourism, hospitality, and recreational activities, highlighting that, in addition to a favorable business climate, the state has ample land, strong infrastructure, and a skilled workforce.

“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.

Additionally, 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.