As a proactive measure aimed at economic diversification and self-sufficiency, the Ondo State Governor, Lucky Aiyedatiwa, has approved the siting of an investment hub known as Diaspora Smart City in Akure, the state’s capital.
Aiyedatiwa who made the disclosure at a ceremony to celebrate the 64th Independence anniversary of Nigeria, demurred at the state’s reliance on monthly revenue from the Federation Accounts Allocation Committee.
He said the DSC was conceived by his administration, as a hub for global business and tourism, thus affirming one of the cardinal programmes of the government, to advance the frontiers of economic prosperity and improve on the people’s living standards.
He said the hub is also a veritable tool of wooing foreign investors to look in the direction of Ondo State.
Speaking during the ceremony in Akure, Aiyedatiwa said, “We are deliberately diversifying the state’s economy from reliance on FAAC revenue by leveraging the state’s natural and strategic advantages in tourism and agriculture.
“The conception of the Diaspora Smart City in Akure aimed at attracting international investment and positioning Ondo State as a hub for global business and tourism is one of our cardinal programmes to advance the frontiers of economic prosperity and abundant life in our dear state.”
He also, on the occasion, recalled notable strides by his administration to make life comfortable for the citizenry.
“In the light of the invaluable gains we have made, we shall remain steadfast, considerate, empathetic and continue to raise the bar of passionate leadership in our determination to assuage the impacts of the present economic hardship and bring comfort to our people.
“This we have demonstrated with the resuscitation of the Free Shuttle Buses as a social safety net for students; the groundbreaking infrastructural reengineering; the stable health sector reforms; the O’ Datiwa mass meter distribution to eliminate estimated billings and darkness; the investment in critical segment of our economy, and relief packages to temper the impact of rising costs of food, social services, unabated inflation occasioned by the painful but necessary removal of fuel subsidy and strategic human capital development,” he highlighted.
Meanwhile, the Commissioner for Regional Integration and Diaspora Relations, Boye Ologbese, also disclosed to newsmen recently that activities were expected to commence soon at the Diaspora Smart City, tagged, Green Economy Initiative.
He said this was the outcome of the weekly meeting of the State Executive Council held at the Governor’s Office in Akure, on Monday July 22, 2024.
“The project is expected to be a tourism hub for the South West and a vehicle for the region’s development.
“It is a complete diversification of the economy, especially when artificial intelligence is moving ahead of crude oil as a source of revenue,” Ologbese disclosed.
The commissioner also informed that he recently went on tour of Moscow in Russia and China, which he undertook two times, for bilateral talks on investment opportunities in Ondo State.
“The last of such visits was in Wuhan, China, where I participated in a seminar on Green Economy Initiative for Developing Countries, and while there, I had useful discussions with investment agents at the School of Economics, Huazhong University of Science and Technology, Wuhan,” he recalled.
