Ogun State Governor, Prince Dapo Abiodun, has announced that the state’s economy has grown fourfold in the past six years, rising from N3.5 trillion to N16 trillion. The disclosure came as the state secured an investment pledge valued between $1.8 billion and $2.5 billion from MAG Group.
The governor made this known during a meeting with the Strategic Advisor of MAG Group, Fayad Fayad, and the Public Relations and Communication Officer, Hassan Fayad, who visited him at his office in Oke-Mosan, Abeokuta.
Speaking on the transformation of Ogun State’s economy, Abiodun highlighted the role of improved infrastructure, provision of basic amenities, and tourism development. He explained that the state’s landmark tourist site, Olumo Rock in Abeokuta, now generates about N20 million weekly after its renovation, a sharp contrast to the same amount it used to earn in an entire year before the upgrade.
He said: “We are one of the two best-performing states in Nigeria. We are the fastest-growing economy in the country. Our economy, between 2019 and 2025, has quadrupled from N3.5 trillion to N16 trillion.”
The governor noted that the increased patronage at Olumo Rock is proof that well-maintained tourist sites could serve as alternative hubs for relaxation while boosting government revenue. He further commended MAG Group for choosing Ogun State for such a significant investment, particularly in the areas of tourism, hospitality, and recreation.
“I don’t have any doubt about the competitive advantage of this state. All the ingredients that you need for the patronage of a large leisure facility are here, and I think that you have not made any error in coming as we provide the best option for investments,” Abiodun said.
The governor also stressed that Ogun State is strategically positioned as an investment destination due to its land mass, strong infrastructure, and human capital, adding that the state government will continue to provide a conducive business environment to attract local and international investors.
In his remarks, MAG Group’s Strategic Adviser, Fayad Fayad, said the organization was proud to partner with Ogun State, describing the investment as one of the biggest projects for hospitality and entertainment in Africa. He confirmed that the investment, ranging from $1.8 billion to $2.5 billion, will include a Disneyland resort, the first of its kind in Africa.
“We are very happy to be here today in Ogun State; we are very proud to initiate this project. This is definitely the first project, and it is between the range of $1.8 billion to $2.5 billion. Very soon, you will hear very good news,” Fayad said.
He added: “There is an initiative that we presented to His Excellency, which is about having a Disneyland resort within Ogun State; it will be the first in Africa. It is a huge project for entertainment and tourism. There will be parks, entertainment, hotels, and water parks.”
Fayad expressed confidence in the leadership of the state and the pace of economic growth. He stated: “We have a lot of projects to do together; we can see the vision, we can see the leadership, and we can see the growth of the economy. Hopefully, we will work side by side with Ogun State, and the sky is the limit.”
(Updated with new information)
