Bisina Somto
In a bid to improve economic growth and provide employment opportunities for over 50,000 residents of Osun State, Ooni of Ife, Oba Adeyeye Ogunwusi, has forged a strategic partnership with China Overseas Energy Development Technology Limited, a prominent Chinese firm.
The Memorandum of Understanding (MoU) formalizing this alliance was signed within the regal confines of the Ooni’s palace, in the presence of the state governor, Ademola Adeleke.
Join our WhatsApp ChannelIn a signed statement by Moses Olafare, the Ooni’s spokesperson, the collaboration will focus on a multifaceted approach to development. This includes agriculture, mechanized farming, and the establishment of large-scale cocoa cultivation facilities.
Furthermore, the Chinese firm will channel its investments into green energy initiatives and the exploration of Osun State’s abundant mineral resources, such as gold and lithium.
“The partnership we are signing today with China Overseas Technology Development Company Limited is going to give over 50,000 employment opportunities to Osun indigenes,” said Oba Adeyeye Ogunwusi.
He explained that the initiative would commence with investments in agriculture, featuring the establishment of a cocoa processing plant in Ife, which will serve as their agricultural hub.
The project will encompass more than 20,000 hectares of farmland and will harness solar energy to power not only the palace but also other facilities within the next 30 to 60 days.
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Highlighting the significance of the collaboration, the Ooni emphasized the shift towards lithium as a crucial component in Nigeria’s future energy sector, especially considering the depletion of traditional oil and gas resources. Lithium’s role in powering batteries, electric vehicles, and other innovative applications positions it as a cornerstone of sustainable energy solutions.
Furthermore, the Ooni stressed that this partnership between his community and the Chinese company would promote both local economic growth and public-private cooperation. He urged stakeholders at both the state and federal levels to rally behind this transformative initiative.
Governor Adeleke expressed his gratitude for the substantial commitment of the Chinese company to invest in the state and commended the Ooni for conceiving and realizing this visionary endeavour.
After the signing of the MoU, Zhang Xiaolin, the Managing Director of the Chinese company, commended the Ooni for his visionary collaboration and initiative to bring this partnership to fruition.
In a related development, it’s worth noting that Ooni Oba Adeyeye Ogunwusi has been actively supporting Micro and Small Medium Enterprises (MSMEs) in Osun State through his business support initiative, Ojaja More
Somto is an Entertainment Reporter with a passion for uncovering the latest stories in the world of entertainment. As a dedicated journalist, Somto delivers in-depth reporting, exclusive interviews, and breaking news coverage.
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