‘$500m Investment Underway in Ogun’

‘$500m Investment Underway in Ogun’

Hamid Ayodeji
The paper industry in Ogun State is about to get a big boost as the Dahua Paper Company Nigeria Limited, Owiwi in Ewekoro Local Government Area of the State says it is set to invest $500 million on tree plantation for paper production in the state.

A working Partner in the company, Prince Bayo Ikujenyo made this known when the State Commissioner for Industry, Trade Investment, Mrs. Kikelomo Longe, and her team visited the company stating that the project which would be a 10,000 hectare tree plantation is segmented into the cultivation of 2,500 hectares of trees annually for four years.

He was quoted in a statement signed by the Press Officers, Ministry of Industry, Trade and Investment, Ogun State, to have said the company had sought the approval of the state government for the 10,000 hectares of land needed adding that with the project, ” a minimum of 5,000 workers would be directly employed and two million indirect jobs would be created.”

The working Partner said when the paper production project commences it would help generate foreign exchange, strengthen the naira and enable the exportation of paper to other countries.

Ikujenyo also disclosed that the company was already expanding the capacity of its paper recycling plant from a daily production capacity of 500 tonnes to 1,100 tonnes lauding the present administration ” for providing enabling environment for businesses to flourish in a deliberate manner.”

Responding, Longe assured that her Ministry would work with the Ministry of Forestry to “accelerate the processing of the 10,000 heactares of land requested by the company”.

She added that the Dapo Abiodun-led administration would continue to create enabling environment through the provision of infrastructure and implementation of business-friendly policies.

Speaking during the interactive session, the Special Adviser to the Governor on Industry, Trade and Investment, Chief Remi Ogunmefun said the State has been deliberate in its approach towards attracting more investments and helping the investments to grow stressing that the Gateway State was focused on remaining investors’ preferred destination in Nigeria.

Speaking earlier, the Permanent Secretary, Ministry of Industry, Trade and Investment, Mr. Olu Ola Aikulola called on industries to continue to engage the Ministry for necessary assistance on issues that would help their businesses grow adding that the government was willing to support expansion of businesses in the state.

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