In a significant announcement, Ogun State Governor, Prince Dapo Abiodun, has revealed that the state’s economy has experienced a fourfold expansion, growing from N3.5 trillion to an estimated N16 trillion over the past six years.
The disclosure coincided with a major investment pledge of up to $2.5 billion from the Mac Group, aimed at establishing a premier entertainment and hospitality resort in the state.
Governor Abiodun made the announcements during a courtesy visit by representatives of the Mac Group at his office in Oke-Mosan, Abeokuta, on Tuesday.
The governor attributed the massive economic growth to his administration’s focused policies on economic development, infrastructure upgrade, provision of basic amenities, and the revitalisation of the state’s tourism sector.
“We are one of the two best-performing states in Nigeria. We are the fastest-growing economy in the country. Our economy, between 2019 and 2025, has quadrupled from N3.5 trillion to N16 trillion,” Governor Abiodun stated.
Highlighting the success in tourism, the governor pointed to the renovated Olumo Rock, which he said now generates approximately N20 million weekly—a figure that was its annual income before the facelift. He expressed surprise at the surge in visitors, noting it as proof that well-maintained tourist sites can be significant revenue sources.
He welcomed the Mac Group, assuring them of a conducive business environment, vast land mass, robust infrastructure, and a ready human capital, which make the state an ideal investment destination.
In his response, the Strategic Advisor for Mac Group, Mr Fayad Fayad, confirmed the massive investment plan, which is projected to be between $1.8 billion and $2.5 billion.
The project, he revealed, will focus on creating a world-class hospitality and entertainment complex, potentially featuring the first Disneyland-style resort in Africa.
“We are very proud to initiate this project… It is a huge project for entertainment and tourism. There will be parks, entertainment, hotels, and water parks,” Fayad said.
He praised the vision and leadership of the state government, expressing confidence that the partnership would yield tremendous success. “Hopefully, we will work side by side with Ogun State, and the sky is the limit,” he added.
This investment pledge marks one of the largest single foreign direct investments in Nigeria’s tourism sector and is expected to significantly boost job creation and economic activity in Ogun State.
