40% rebate on industrial land boosts industrialisation in Ogun

More industries are relocating to Ogun State on account of 40 percent rebate placed on industrial lands in the state.

 

BusinessDay reports that hundreds of hectares of land have been acquired by investors in recent times, especially in existing and emerging industrial hubs such as Agbara, Igbesa, Ota, Sagamu, Ewekoro, Arepo, Ibafo, Mowe, Warewa and Abeokuta. Many land owners have also been compensated with billions of naira in the last five years.

 

The most recent monetary compensation to land owners in Sagamu Local Government Area came at the weekend when the Export Trading Group (ETG) (also Agro-Company Nigeria Limited)  partnered Ogun State government, through the Bureau of Lands and Survey on N300 million compensation to the people of Areke community for acquiring their land for industrial use.

 

According to the state government, Areke was among the communities whose hectares of land were acquired by government for the purpose of socio-economic growth and development, coupled with desire to fast- track localisation of industries and industrialisation for employment opportunities and wealth creation.

 

Speaking on economic benefit and significance of 40 percent land rebate in Ogun state, Satar Omolola of Export Trading Group said the move to drive more investors to the state was initiated out of pragmatic business approach of Ibikunle Amosun, governor of the state, to boost economy and create wealth and employment opportunities for the people.

 

Omolola, who spoke on behalf of the investors that acquired lands for industrial uses in the state, lauded the state government for bringing development to the people by introducing a series of enabling economic incentives, just as he pledged that investors would continue to partner with the people and the government in terms of corporate social responsibility and tax remittance.

Presenting the cheques to the beneficiaries on behalf of the state government, Micheal Adewale, head of acquisition and compensation, explained that the lands were given to investors that were ready to establish companies in a bid to create job opportunities for the citizens and the host communities at large.

He said the proximity of Areke to Flowergate Industrial Scheme, which houses the largest plant of Nestle Nigeria Plc, would attract more investors in siting their companies in the area, thereby boosting industrialisation drive of the state.

 

“This present government is propelling this project. It has put in place various measures of compensation to improve the standard of living of the citizens,” he said.

 

“Therefore, the corporate social responsibilities of investors must be fulfilled in the various communities where they are being hosted, beside the monetary compensation to the communities,” he added.

Disu Olalekan, who represented the beneficiaries, pledged that the communities would ensure conducive atmosphere conducive for smooth operations and industrial growth, adding that the investors should take the issues of corporate social responsibility seriously and support of the administration of Amosun in its industrialisation drive.