~~Power reforms, IGR growth, and infrastructure expansion driving economic transformation
Ondo State is rapidly transforming into one of Nigeria’s most attractive business and investment destinations, shedding its long-held image as a civil service-dominated economy.
This transformation, according to the state government, is being propelled by Governor Lucky Orimisan Aiyedatiwa’s comprehensive reforms under the OUR EASE Agenda, which targets multi-sectoral growth and investor confidence.
The Commissioner for Information and Orientation, Hon. Idowu Ajanaku, disclosed this in Akure while outlining the administration’s ongoing efforts to reposition the state for sustainable economic growth through strategic investments in infrastructure, power, agriculture, tourism, and internal revenue generation.
Ajanaku commended the Ministry of Energy and Power for its significant strides in improving electricity access across the state, noting that over 13,000 prepaid meters have been distributed to residents and small business owners. He said the initiative has reduced estimated billing, enhanced transparency, and boosted investor confidence.
According to him, the Ondo State Power Company (OSPC) has strengthened its regulatory oversight and deepened collaboration with electricity distribution companies to ensure a more reliable power supply. This, he said, has translated into improved productivity for small and medium-scale enterprises (SMEs) and an encouraging business atmosphere across the state.
“Regular electricity supply is the backbone of industrial development, and Governor Aiyedatiwa’s administration understands this clearly. The renewed energy policy and the improved efficiency of the state power company are already driving business growth,” Ajanaku stated.
The Commissioner also praised the Ondo State Internal Revenue Service (ODIRS) for its digital innovations and efficiency in tax administration, which have led to a steady rise in the state’s Internally Generated Revenue (IGR).
He explained that the enhanced revenue collection system, supported by tax education and transparency, has not only increased the state’s fiscal strength but also bolstered public confidence in governance and service delivery.
Ajanaku highlighted infrastructure development as a major pillar of the Aiyedatiwa administration’s economic plan, listing key ongoing projects such as the Ikare–Akungba dualization, Akure–Idanre dualization, Okitipupa–Igbokoda road, and the Akure–Ilesa flyover, alongside several internal road rehabilitations.
He also mentioned the Araromi–Lekki road, a strategic route that will directly connect Ondo State to Lagos upon completion, describing it as a major catalyst for trade, logistics, and tourism expansion.
“When these infrastructure projects are completed, Ondo will naturally attract industries, logistics companies, and investors looking for a business-friendly location between the South-West and South-South corridors,” he added.
Ajanaku further described the forthcoming Port Ondo project as a “game changer” that will unlock new opportunities in maritime trade, logistics, and industrial development.
On agriculture, the Commissioner reaffirmed Ondo State’s position as Nigeria’s leading cocoa producer and the second largest in West Africa. He revealed that the government is prioritizing value addition and agribusiness investment to create jobs and increase export earnings.
He also announced plans to revive the popular MARE Mountain Climbing Festival in Idanre this December, noting that the tourism event will stimulate the local economy and attract private investment through public-private partnerships.
Concluding, Ajanaku expressed confidence in the state’s economic trajectory, urging both local and foreign investors to take advantage of Ondo’s emerging opportunities.
“Ondo State is ready for business. We have the resources, strategic location, power stability, and transparent governance that investors are looking for. The Aiyedatiwa administration is determined to make Ondo Nigeria’s next business hub,” he declared.
