Governor Dapo Abiodun of Ogun State has said the state’s economy has quadrupled in the past six years, growing from N3.5 trillion to N16 trillion.
He announced this during a visit from representatives of the MAG Group, a company that has pledged a massive $1.8 billion to $2.5 billion investment in the state.
The investment, announced by the company’s Strategic Adviser, Fayad Fayad, is a groundbreaking initiative to build a Disneyland-style resort, the first of its kind in Africa.
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The project will include parks, hotels, water parks, and various entertainment facilities, positioning Ogun as a major hub for tourism and recreation.
Abiodun also revealed that tourism has become a significant source of revenue for the state.
He highlighted the successful renovation of Olumo Rock, the state’s most prominent tourist attraction, which now generates about N20 million weekly—a stark increase from the N20 million it used to generate annually.
The governor expressed his excitement about the consistent tourism growth and emphasised that this indicates the potential for well-managed tourist sites to generate substantial income.
The governor assured the MAG Group that they made the right choice by investing in the state, citing the state’s competitive advantages, including a large land mass, skilled workforce, and a business-friendly environment.
He stated that the state provides the “best option for investments” and that all the necessary elements for a successful leisure facility are present.
The MAG Group’s representatives praised the state’s vision and leadership, noting that they are proud to partner with Ogun State to initiate the project.
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The company believes that working side by side with the state government, the “sky is the limit” for what they can achieve.
This development aligns with the state government’s recent efforts to attract foreign investment and promote economic growth through improved infrastructure and favourable policies.
