By Modupe Gbadeyanka
The decision of the Ogun State government to renovate the famous Olumo Rock in Abeokuta, the state capital, seems to be yielding good results.
This is because the rock is already making the Gateway State richer by N20 million every week, according to the governor, Mr Dapo Abiodun.
In a post on X (formerly Twitter) over the weekend, Mr Abiodun stated that the iconic Olumo Rock was generating N20 million weekly, helping his administration to grow the state’s economy to N16 trillion from the N3.5 trillion it reportedly was in 2019, when he came into power.
The Goevrnor attributed this significant economic growth in the last six years to his business-friendly policies, which are attracting more investors into the state, which shares boundary with Nigeria’s commercial capital, Lagos.
According to him, a company known as MAG Group was in the state to pledge an investment of between $1.8 billion and $2.5 billion in hospitality and entertainment.
He disclosed that the firm intends to establish Africa’s first Disneyland-style resort in Ogun State, alongside hotels, water parks, and other leisure facilities.
“Over the last six years, we have grown Ogun State’s economy from N3.5 trillion to N16 trillion, making us one of the fastest-growing economies in Nigeria. This growth reflects our deliberate efforts in infrastructure, basic amenities, and the revitalization of tourism, with Olumo Rock now generating about N20 million weekly after its renovation.
“We recently received MAG Group in Abeokuta, where they pledged an investment of between $1.8 billion and $2.5 billion in hospitality and entertainment. Their plans include the establishment of Africa’s first Disneyland-style resort in Ogun State, alongside hotels, water parks, and other leisure facilities.
“This pledge confirms the strength of our competitive advantage as a state with vast land, a conducive business environment, and the right human capital. We remain committed to sustaining Ogun State as the investment destination of choice and the true gateway to prosperity,” he posted.