British Envoy restates partnership with Ondo State, confirms $40m investment in cocoa
The British Deputy High Commissioner to Nigeria, Jonny Baxter, has reaffirmed the United Kingdom’s commitment to deepening its partnership with Ondo State, particularly in areas of trade and investment. Baxter gave the assurance during a working visit to Governor Lucky Aiyedatiwa in Akure on Wednesday.
He noted that the UK’s engagement with Nigeria had evolved from donor aid to mutually beneficial investment partnerships. He disclosed that the British International Investment (BII) had already invested over $40 million in JohnVents Industries in Ondo State to rehabilitate cocoa plantations, describing the project as a model for future collaborations.
“Our relationship with Nigeria is now a partnership of equals,” he said. “Through BII, we are supporting projects that create jobs, enhance production, and benefit both countries.” He added that BII was also funding Nigerian banks to help reduce interest rates and improve access to credit for small and medium-sized enterprises.
The envoy explained that the UK government was eager to understand Ondo’s public-private partnership framework and explore sectors where British institutions could complement the state’s economic agenda.
Governor Aiyedatiwa, in his remarks, urged British investors to take advantage of Ondo’s abundant natural and economic resources, noting that the state remains Nigeria’s largest cocoa producer, accounting for about 40 percent of national output. “This is the land of cocoa,” he said. “It was from cocoa that the late Chief Obafemi Awolowo developed the Western Region. Ondo still leads in cocoa production today.”
The governor highlighted the state’s wealth in bitumen, coal, gold, gas, and vast arable land, as well as its 180-kilometre coastline, which positions it as a gateway for trade. He revealed that plans were underway to develop a deep seaport to boost exports and unlock the state’s blue economy.
Aiyedatiwa commended President Bola Tinubu’s economic reforms, saying they had begun to stabilize the economy and enhance states’ fiscal performance. He also announced the establishment of a one-stop investment office to assist new investors and revealed ongoing projects such as a modular refinery and chemical plant under the Ondo State Development and Investment Promotion Agency (ONDIPA).
Members of the British delegation included the Deputy Political Commissioner, Janet Baxter; Senior Political Adviser, Wale Adebadu; Private Sector Adviser, Ms. Tevi Hake Demadi; and Digital Communication Lead, Ms. Ifeoluwa Hatuludu.
