Ondo, Bauchi partner to attract $2.6bn investment in fertilizer, petrochemical projects
Ondo and Bauchi States have launched a strategic economic partnership aimed at accelerating agricultural development and industrialization, with a $2.6 billion investment already in the pipeline for Ondo.
The move was formalized on Friday, July 11, 2025, during a working visit by Bauchi State Governor, Senator Bala Mohammed, to Ondo State Governor, Dr. Lucky Orimisan Aiyedatiwa, in Akure. The visit marked a milestone in inter-state collaboration as both governors agreed to deepen economic ties for mutual benefit.
Highlighting the outcome of the partnership, plans were unveiled for the establishment of a fertilizer production facility, a harmonial plant, and a petrochemical complex in Ondo State. The investor, Dr. Abbas Waziri, Executive Director of Residents Group Cement, confirmed that the project is expected to be completed within 12 months.
Governor Aiyedatiwa expressed appreciation to Governor Mohammed for facilitating the investment and noted that the project aligns with his administration’s vision to boost the state’s economy and create employment opportunities. “We are building the necessary infrastructure already,” Aiyedatiwa said, referencing ongoing dualization of the Igbokoda–Okitipupa–Ore road corridor.
He also reiterated his commitment to completing the Ondo Deep Seaport project, describing it as a game-changer for the state’s long-term economic growth. The governor assured the investors of a business-friendly climate, adequate security, and a free trade zone within the project area.
Governor Mohammed commended Aiyedatiwa’s efforts at diversifying Ondo’s revenue base and pledged to replicate successful investment models across states. “Far away in Bauchi, we have been watching you. There is a lot of similarity in our vision to empower people through development,” he said.
Dr. Waziri noted that his company had already invested $1.5 billion in Bauchi and expressed readiness to replicate similar success in Ondo. “We are looking at investing $2.6 billion in the state, and within 12 months it will be ready,” he said.
Top government officials at the meeting included Ondo Deputy Governor Dr. Olayide Adelami, Secretary to the State Government Dr. Taiwo Fasoranti, Chief of Staff Prince Segun Omojuwa, and ONDIPA Administrative Secretary Barr. Emmanuel Omomowo.
