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February FGN Savings Bond Sales End Today

By Adedapo Adesanya

The Governor of Ogun State, Mr. Dapo Abiodun, has called on Egyptian and Ethiopian investors to increase foreign direct investment in the state.

According to a statement, the governor made the plea during an investment tour with Ethiopian Minister of Industry, Mr. Ato Melaku Alebal, in Addis Ababa.

In particular, he wants investments and collaboration between Ethiopia and Ogun State in the field of industry and trade, ensuring an enabling environment for them.

Mr. Abiodun, together with Mr. Mohammad Mahmood Abubakar, Nigerian Minister of Agriculture, also assessed the benefits and opportunities for collaboration in the Special Agricultural Transformation Zones (SAPZs) which are a product of the African Development Bank (ADB).

In Egypt, during the meeting with the Elsewedy Group, one of the largest conglomerates in the country, the Governor of Ogun State, accompanied by his Commissioner for Finance and Chief Economic Advisor, Mr. Dapo Okubadejo, and from his agriculture counterpart, Mr. Samson Odedina and Afreximbank Chairman, Mr. Benedict Okey Oramah, said the meeting with the group with significant investment opportunities across Africa and Europe was aimed at seek partnerships with him.

He explained that the meeting was also aimed at facilitating Elsewedy’s investments in Ogun State in healthcare, development of industrial parks, real estate, network and management of intelligent transport systems, toll systems and the energy sector.

“The group is the largest producer of prepaid meters in the world. After this meeting, the investment team would be hosted in Ogun State to further assess and structure these investment opportunities, after which the Chairman and CEO of Elsewedy Group, Ahmed El Sewedy, who was on the land to receive us, would come to Ogun State to sign a document in these areas and sign the relevant definitive transaction agreements on these investments.

“Our team also met with Peter Emil, Business Development Manager – Áfríkà for Wadi Degla Holding, a Cairo-based multi-company conglomerate specializing in real estate, telecommunications and sports services.

“During the duration of the meeting, we discussed some key investment opportunities available in the areas of creative arts, entertainment and sports development.

“As Wadi Degla Holding explores the African market – particularly in Nigeria – we strongly believe that the Gateway State would receive the utmost attention due to the current ease of doing business and other socio-economic development considerations that place us in an advantageous position in the country,” Mr. Abiodun said.

Elsewedy Group, which is the largest producer of prepaid meters in the world, is expected to visit Ogun State soon, to further assess and structure investment opportunities.

The Chairman and CEO of Elsewedy Group, Mr. El Sewedy has assured that he will visit Ogun State to sign a Memorandum of Understanding (MoU) in this regard.