FG requires 36 states to generate 3,600MW electricity for economic growth

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...as Amosun attracts $2.1bn investment for railways, free tradelivery zones 

Yemi Osinbajo, Nigeria's Vice-President and Yemi Kale, Statistician-General of Nigeria have requested 36 states and federal capital territory, to support federal government's investment in power production and distribution as part of measures to boost nation's economic growth and development. 

 

The duo of Nigeria's Vice-President and Statistician-General of Nigeria, spoke at the 3rd Ogun State Investors' Forum held in Abeokuta , that the issue of power production and distribution in the country, should not be left to either federal government or private companies alone, for economyour to growth and development. 

While Kale was arguing that Nigeria's 36 states could generate at least 3,600 mega watt electricity through independent power project, going by 100 mega watt capacity proposed for each state of the federation, Osinbajo believed that current economic trend required every state to invest in power generation and distribution. 

The Vice-President declared that Nigeria was 186 position in terms of ease of doing business in the world chart released by World Bank because of some economic variables that were not in place, majorly stable power and other factors, saying states' involvement in the issue of power generation and distribution was extremely needed at the moment. 

Osinbajo said, "I want to suggest that states can also do a lot in generating power, especially in industrial estates; providing electricity for industries. What we want to do with the already passed budget, in terms of ease of doing business, is to move 30 spaces up in the World Bank'statement chart." 

Speaking on Ogun state's economy, the Statistician-General revealed that the State is not taking retail market opportunities that could be explored from the state's proximity to Lagos and Oyo states, which represent 25% of Nigeria's market, adding that the state should produce what Northern region supplies the two states for economic vibrancy.

"Let me look at Agriculture, I think Ogun state is in line with what the federal government does on Agriculture. You must also know that Ogun state is well placed between Lagos and Oyo states that represent 25% of national market.

"I think therefore, that Ogun State should produce and concentrate more on what the North supplies Lagos and Oyo states, the since the State is very close to Lagos, the economic nerve centre of the country", he added.  

But, Governor Ibikunle Amosun, while delivering opening speech at the event tagged, "Ogun State Open for Business....Emerging Economic Powerhouse", declared that programmes and policies had been evolved by Government to improve ease of doing business in the State through removal of perceived bureaucracy ano artificial bottlenecks.

The governor, who noted that economic efforts had been made in the area of infrastructure and services such as rail and road networks, electricity, among others, revealed that his administration had attracted $2.1 billion investment for construction of railway networks and development of further free trade zones in the state.

He said, "Now, more than at any time in our history, industries and entrepreneurs from within Africa and around the world are choosing Ogun State as their preferred investment destination. For example, just last month (April, 2016), our Administration attracted $2.1 bllion Investment from China, directed mainly towards the development of our railways and Free Trade Zones. 

"Yet, more investment is needed to realise the full potential of the State. Our State Master Plan, which is the statutory policy of government, guiding the physical development of the State, captures the many areas where the discerning investor may wish to put his or her money to secure attractive returns.

"With this Forum, our administration seeks to present to the world an Ogun State that is ready to work with investors to achieve their targets. To make it easier for investors to take full advantage of the vast opportunities in Ogun State, we are further expanding the services offered by the One-Stop-Shop that was launched in 2012. 

"The One-Stop-Shop will enable potential and existing investors to go to only one office in order to process Urban and Physical Planning permits; to access the Bureau of Lands to conduct transactions such as land title searches, to purchase land and obtain certificates of occupancy/Governor’s consent; to access the Internal Revenue Service; to acquire land for Agriculture; and finally to access the Legal Advisory Desk - all under one roof. 

"The One-Stop-Shop will assign a dedicated officer as an advocate, who will ensure that things progress efficiently. This is our way of demonstrating our pledge that we are indeed Open For Business. I hope you will all agree with me that this is the time to take advantage of what Ogun State has to offer. I assure you all that you will find in us, worthy partners in a mutually beneficial relationship."

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2017-02-21 16:33