The 4th Biennial Ogun State Investors’ Forum (OGUN INVESTORS’ FORUM, 2018) with the theme “Consolidating the Gains, Accelerating Growth” was held at the June 12 Cultural Centre, Abeokuta on Tuesday, 20th and Wednesday, 21st March, 2018.
The following recommendations were made in the respective plenary sessions:
On The Economy: It was agreed that in order to achieve Macro-Economic Development and to deliver a diverse, inclusive economy:
Ogun State must continue to build on its efforts to go beyond the federal allocation as a measure of the increasing strength of the State’s non-oil revenue base with specific focus on broadening its tax base, improving government services and closing revenue leakages;
Ogun State should continue to look internally and develop its comparative advantage across all Local Government Areas of the State, especially in areas such as mining of solid minerals and processing of strategic raw materials;
Ogun State should continue to provide quality and affordable Housing to citizens and visitors as part of an integrated programme to build communities, which in turn creates jobs for youths and has the potential to attract investors;
Ogun State should encourage companies to invest in the youth by establishing collaborations with schools and Vocational
Training Centres towards ensuring the availability of skilled manpower;
Ogun State Government needs to ensure the development and implementation of investment friendly policies in order to continue to motivate investors;
Ogun State needs to adopt a flexible payment system to facilitate the payment of taxes which will improve its Internally Generated Revenue (IGR);
The State Government should consolidate collaboration with its development partners to actualize the State’s development plans;
Ogun State Government should continue to facilitate the development of appropriate infrastructure for broadening Financial Inclusion towards strengthening the State’s economy;
Ogun State should mainstream the best environmental practices as a tool for sustainable Development;
Ogun State Government should consolidate its collaboration with the Federal Government in order to domesticate various National Economic Programmes and policies in the State;
Ogun State should build a system driven government that is not extractive but inclusive.
Agriculture: Building Value Chains: Feeding Nigeria, Feeding Africa:
Ogun State government should be proactive in developing commercial agriculture as a viable alternative to oil;
Ogun State needs to develop mechanized Agriculture in order to harness its potential to become the food basket of the Nation;
The State should streamline processes for Commercial Agriculture land allocation and land title;
The State Government should intensify efforts in the construction of rural roads to ease access and movements of raw materials, finished products and people;
Ogun State Government should encourage value chain addition for Agriculture;
The State Government should provide easy access for farmers to rent quality, affordable Agricultural Equipment across the State;
Ogun State Government should revamp the Agriculture Extension Services programme for farmers and provide updated curriculum on modern farming methodologies and Government Agricultural policies and programmes;
Ogun State Government should prioritize Agriculture as an avenue to achieve import substitution for development of overall Gross Domestic Product (GDP) of the Nation;
Government should continue to create an enabling environment for private sector participation in the agriculture industry;
Ogun State should adopt high-end technological approach to farming so as to increase sales of agricultural produce and enhance better productivity of produce which will gradually lead to the self-sustainability amongst farmers; MSMES should be strengthened to allow for further backward integration system across the diverse value chain.
Information Technology -Technology and Economic Transformation
The State Government can effectively combat the challenges of unemployment and fiscal deficit by embracing 21st Century Technology for Economic Transformation;
The State Government should address the mind-set challenge faced by its residents in order to innovate, create and claim ownership of the digital space;
Ogun State should intensify efforts to harness Science and Technology to deliver good governance to the people;
Ogun State should establish a research council, to be called “Ogun State Research Council” to facilitate enhanced economic competitiveness across key industries through sound research, development and training;
Strategic acceleration programmes should be promoted to enhance the impact of academic research in Ogun State, thereby building the capacity of local tertiary institutions;
Ogun State Government should leverage on its tertiary institutions to train and produce qualified teachers in order to be globally competitive;
The State should use the “Catch them Young” approach to digitalization, so that our children can become tech-savvy adults who will play an active role in the socio-economic development of the State;
Ogun State needs to embrace digital revolution in the communication industry;
Ogun State Government should implement policies to attract private investment in the areas of ICT for improved broadband intervention for development.
Industry:Ogun State needs to encourage private investment in infrastructural development;
Ogun State should create economic collaboration with Lagos State and Republic of Benin due to their proximities to one another, thereby promoting bi-lateral economic ties that will herald meaningful sustainable development in the State;
The State should review the way new taxes are introduced in the State.
Ogunstate’s giant leap in infrastructure was commended but also urged to continue in the development of key infrastructure with a focus on industrial cluster areas.
Ogun state should construct gas plants to ensure constant power supply to industries, IPP Projects Renewable Energy in the State
The state should collaborate with the National Investment Promotion Council so as to translate the investors’ announcements into actual investments.
Ease of Doing Business
Ogun State should introduce tax incentives and a simplified taxing system that attracts investors into the State;
The current administration is urged to put in place a process that will ensure continuity and sustainability of the current development process beyond the present administration; The process of land acquisition should be wholly handled by the State Government to prevent crisis with land- grabbers.
In deed you will agree with me Ogun State is OPEN FOR BUSINESS.