Gov. Lucky Aiyedatiwa of Ondo State has urged British investors to tap into the state’s abundant natural and economic resources.
Aiyedatiwa reaffirmed his administration’s readiness to deepen development ties with the United Kingdom.
The governor made the call on Wednesday while receiving the British Deputy High Commissioner to Nigeria, Mr Jonny Baxter, and his team at the Governor’s Office in Akure.
Aiyedatiwa, who described the state as a land of vast opportunities, told the delegation that the state remains Nigeria’s largest cocoa producer, contributing about 40 per cent of the country’s total output.
The governor said that the state is endowed with bitumen, coal, gold, gas and other mineral resources, alongside expansive arable land suitable for agriculture.
“This is the land of cocoa. It was from cocoa that the late Chief Obafemi Awolowo developed the Western Region, building Africa’s first television station, the Cocoa House and several other infrastructures.
“Ondo is still leading in cocoa production today,” he said.
Aiyedatiwa said the state’s population stands at 5.3 million, with a landmass of 15,500 square kilometres and a Gross Domestic Product (GDP) that is approximately ₦5.1 trillion, ranking seventh among Nigeria’s 36 states.
He noted that the state has the longest coastline in Nigeria, which serves as a major gateway to international trade.
The governor added that plans were underway to develop a deep seaport to boost exports and unlock the state’s blue economy potentials.
He emphasised that Nigeria’s relationship with the UK had evolved from colonial and donor dependency into a partnership centred on investment and institutional collaboration.
Aiyedatiwa commended President Bola Tinubu’s economic reforms, noting that while the policies initially caused hardship, they had begun to stabilise the economy, enabling states like Ondo State to perform better financially.
He also said that his administration had established a one-stop investment office to assist new investors from documentation to full operations.
Aiyedatiwa assured that the state had significantly improved its security architecture to support business stability.
The governor mentioned new projects, including a modular refinery and an upcoming chemical plant, both backed by investors working with the Ondo State Development and Investment Promotion Agency (ONDIPA).
Speaking, the British Deputy High Commissioner said his visit was aimed at exploring areas of collaboration and investment between the UK and the state.
Baxter, who expressed delight at the state’s development potential, said the UK’s engagement with Nigeria had shifted from donor aid to direct investment partnerships that promote shared prosperity.
“Our relationship with Nigeria is now a partnership of equals.
“For instance, the British International Investment (BII) has invested over $40 million in JohnVents here in Ondo State to rehabilitate cocoa plantations.
“We are focused on investments that will benefit both countries,” he said.
He added that there was funding to Nigerian banks to help reduce interest rates and expand credit access for small and medium-sized enterprises (SMEs).
“The aim is to make capital more affordable and accessible for Nigerian businesses. If we can reduce the cost of capital, more Nigerian institutions will grow stronger and drive economic development,” he said.
Baxter noted that the UK government was eager to understand the state’s public-private partnership models and identify areas where British institutions could complement the state’s economic agenda.
