BUSINESS 90% of Ondo resources untapped, says Akeredolu Published July 23, 2017

Peter Dada
The Ondo State Governor , Mr .
Rotimi Akeredolu , has called on
investors all over the world to come
to the state to invest in numerous
untapped natural resources in the
state.
He disclosed that over 90 per cent
of natural resources in the state
had yet to be exploited for human
and economic development .

Akeredolu , while speaking at the
first Ondo State Investment Forum
in Akure , the state capital , urged
investors to collaborate with the
government by utilising the
abundant resources in the state
He said the state , with its large
population , exhibited tremendous
potential for high productivity of
both human and material
resources.

He also said that the state had
already begun the process of
establishing Ondo State
Employment Trust Fund in a bid to
create employment for the jobless
youths in the state , noting that the
trust fund would be in partnership
with the private sector and would
employ more than 10,000 youths
and women in agribusiness .
The governor said , “Ondo State is
an agrarian economy with over 70
per cent of the population with
agriculture being the dominant
employer of labour . It is no longer
news that Ondo State accounts for
over 40 per cent of Nigeria’s annual
cocoa output. However , we process
less than two per cent of our cocoa
output.
“Ondo State is also a major player
in other agricultural produce in
tree crops such as oil palm, rubber ,
cashew and kolanut ; in arable crops
such as cassava , yam , maize , rice ,
sugarcane; fruit crops such as
pineapple, citrus , mango , pepper
and tomato are all cultivated in
abundance in Ondo State.
“Our special focus is on our
comparative advantage in
agriculture , which is palm oil and
cocoa. We want to develop our
palm oil to the extent where we
have a self -sustaining palm oil
city.”
The governor added that plans
were underway to expand the
cocoa revolution project started in
the state .
On industrial development ,
Akeredolu said that the state had
been granted two Free Trade Zone
licences, which are Olokola ( being
an oil and gas FTZ in partnership
with Ogun State Government) and
Ondo State Industrial City ( as a
non- oil and gas FTZ) .
“These FTZs have the potential of
becoming the gateway to export
produce from all over the country .
Agricultural produce from the
North , agro-allied and industrial
products from ancillary industries
from the East can easily be
exported to regional and
international markets from Ondo ,”
the governor added .