OGUN TO BENEFIT FROM AFREXIMBANK $200M INITIATIVE

  OGUN TO BENEFIT FROM AFREXIMBANK $200M INITIATIVE

The Public Private Partnership model of the Prince Dapo Abiodun administration in Ogun State has received an additional boost, as AfreximBank is dedicating the sum of $200m towards projects implementation and other initiatives of the administration.

The President/Chairman, Board of Directors, AfreximBank, Mr. Benedict Oramah who made this known at the Governor's office, Oke-Mosan, Abeokuta, said

the bank would provide technical assistance to the State government, which could be a grant.

Oramah noted that the bank would use its project preparation facility to prepare projects in the State,  saying, "under the $200m envelope that I mentioned, we are willing to provide technical assistance which can be a grant, we will look at how we can support you to develop some ideas and also provide advisory services.”

The Chairman added that the bank would partner with the State government to ensure completion and operation of the 250 bedded hospital in Abeokuta, as it was investing in Africa’s health sector to produce vaccines and other drugs for the use of the people.

Oramah who commended the State government for its infrastructural development, said the bank was also interested in making road more accessible to investors, as well as the Cargo airport.

"We've seen opportunities to support the infrastructural development that is ongoing in the State, the cargo airport will be a heteropoly city. Our ‘Quality Assurance Testing Inspection Center' in the area will be critical for implementing this airport and we can assure you that it is something we would be interested in developing with you”, he said.

Oramah who noted that the bank is aware that the state is rich in agriculture opined that it would support efforts being made to impact the lives of the people through various products in the agriculture sector.

"I can assure you, Mr. Governor that we will be very willing and ready to explore all these opportunities as partners, providing food range of products with necessary technical assistance, advisory, project preparation facility and of cause lending to the state," he said.

In his remarks, the Ogun State Governor, Prince Dapo Abiodun who noted that the Quality Assurance Center, which is a testing ground for export would complement its International Cargo Airport, added that his administration would continue to do all it could to make the State the destination of choice for investors.

Abiodun said his government had in the last few months embarked on massive construction of roads across the State, particularly the Ijebu-Ode-Epe and Agbara-Lusada-Atan roads among others, noting that his administration would be glad to receive support from the bank.

"We have built these roads at great expense to the State, these roads are Federal roads, they are also commercial roads. We invite AfreximBank to partner with us, as we intend to concession the roads and toll them, so that we can recover our investment.”

The State helmsman also called on the bank to support his administration in its quest to build an international Cargo Airport that would be a cargo hub for the country and the continent of Africa as a whole, saying “construction has started, it is our hope that it will be completed sometime before the end of next year”.

The Governor added that his government intends to partner with Afreximbank to create a Micro, Small and Medium Enterprises (MSMEs) fund, that would be targeted at such industries and also create clusters that would allow them access lands at a reduced price.

 

Oluwafunso Obasan,

Press Officer, Office of the Governor.