By Rosheedat Akinkunle, JKNewsMedia Reporter
PUSH FOR deeper economic ties between Nigeria and Brazil gained momentum as Ogun State Governor Dapo Abiodun called on Brazilian investors to collaborate on establishing a fertiliser plant at the Olokola Liquefied Natural Gas (LNG) Project site.
The offer was extended during the Ogun State Investment Summit held in Rio de Janeiro on the margins of the BRICS Summit.
The event drew the presence of President Bola Tinubu, five state governors, federal ministers, and senior government officials as part of a broader investment mobilisation strategy spearheaded by the Abiodun administration.
Governor Abiodun underscored Ogun State’s readiness to welcome investment across a wide range of sectors—oil and gas, livestock, mining, agriculture, power, renewable energy, tourism, and technical and vocational training.
He highlighted Olokola’s strategic advantage, noting it houses Nigeria’s deepest sea point, making it optimal for industrial activity and export-oriented production.
“We have a region in our state known as the Olokola region, which is the deepest sea point in Nigeria and is poised for the Olokola gas project.
This area has been identified as an ideal location to establish a fertiliser plant. We welcome partners from Brazil to join us in setting up this facility in Ogun State,” Abiodun told prospective investors.
Describing Ogun as investor-friendly and highly industrialised, Abiodun emphasised that the state is among Nigeria’s most developed, bolstered by robust infrastructure that supports industrial growth and expansion.
The initiative aligns with the governor’s drive to fast-track economic development and industrialisation by attracting global capital and expertise.
Backing the call, Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, reiterated Ogun’s status as a major industrial hub.
“There is a robust infrastructure already in place to support industries, which is why Ogun is very industrialised,” he noted during the session.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, said Nigeria was making steady macroeconomic progress under the current administration.
He pointed to gains in stabilising inflation and strengthening economic fundamentals, supported by policy reforms.
Central Bank Governor Yemi Cardoso added that the financial system had remained stable since the new administration assumed office. “In Nigeria today, we have a stable financial system.
Our strict monitoring system ensures that inflation is gradually trending downward, which lays a solid foundation for growth,” Cardoso said.
The Rio summit marks a key milestone in Ogun’s international investment drive, leveraging its economic reputation to deepen ties with emerging markets and strategic partners within the BRICS framework.
