In a major boost to Ondo State’s industrial drive, a $2.6 billion investment agreement has been reached for the establishment of a fertilizer and petrochemical plant. The deal was sealed during the visit of Bauchi State Governor Bala Mohammed to his Ondo counterpart, Governor Lucky Aiyedatiwa, in Akure.
The investment, facilitated by global firm Crown Refinery and Petrochemical Limited, aims to enhance the agricultural value chain, create jobs, and promote economic diversification in the South-Western state. The proposed project will be sited in the oil-rich Odigbo Local Government Area.
Governor Aiyedatiwa expressed gratitude for the partnership, emphasizing that it marks a significant step toward economic transformation and industrial growth in Ondo. He praised the private sector’s confidence in the state and assured all necessary support for the project’s successful implementation.
Governor Bala, who attended as a guest and supporter of the venture, lauded the collaborative effort and stressed the importance of inter-state cooperation in attracting large-scale investments that benefit the entire country.
Representatives of Crown Refinery reaffirmed their commitment to commencing the project swiftly, promising compliance with global standards and a focus on local content development.
