Ogun State's Dayo Adeneye outlines plans to accelerate economic growth

In a bid to consolidate gains and accelerate growth, Ogun State in Nigeria has emerged as a major investment destination, attracting a significant portion of foreign direct investment (FDI). The state has witnessed remarkable progress in recent years, transforming from being ranked at the bottom in terms of ease of doing business to now being among the top three or four states in Nigeria for business. CNBC Africa's Christycole Popoola sat down with Dayo Adeneye, Ogun State's Commissioner for Information and Strategy, to discuss the state's development plans and partnerships. Adeneye highlighted the significant strides that Ogun State has made in creating an enabling environment for businesses through improved security measures, infrastructure development, and strategic partnerships. He emphasized the state's commitment to attracting investments not only from within Nigeria but also from neighboring states and international markets. The Ogun State Investment Forum, held biennially, plays a crucial role in showcasing the state's economic potential and attracting FDI. Adeneye noted that while the state has made progress in previous editions of the forum, the focus remains on building a sustainable framework that will transcend different administrations and ensure continued growth and development. Governor B. Kaniyamu's administration has been lauded for its efforts in positioning Ogun State as Africa's fastest-growing investment destination. Adeneye attributed this success to the state's ability to attract 75% of all foreign direct investment in Nigeria, a remarkable feat considering the state's prior unfavorable reputation in 2011. The governor's vision of creating a conducive business environment has paid off, resulting in a significant influx of investors to Ogun State. With plans to consolidate gains and accelerate growth, Ogun State remains steadfast in its commitment to fostering a vibrant business ecosystem and driving economic development. The state's strategic location as the 'gateway state' to West Africa, coupled with ongoing initiatives to enhance infrastructure and security, positions it as a premier investment destination in Nigeria.