The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II
In a significant development, Oba Adeyeye Ogunwusi, Ojaja II, the revered Ooni of Ife, has entered into a memorandum of understanding with a prominent Chinese company.
This partnership aims to provide employment opportunities for more than 50,000 Osun indigenes, marking a positive step towards economic empowerment in the region.
The signing ceremony took place on Tuesday in Ile-Ife, operating under a Community and Private Partnership framework.
Highlighting the venture’s breadth, the Ooni revealed the company’s commitment to investing in key sectors. These include agriculture, green energy, gold, lithium, and various mineral resources in both Ile-Ife and the broader state.
Moreover, the Chinese company is set to revolutionize agriculture through mechanized farming, aiming for large-scale cocoa production to bolster the local economy.
The traditional leader emphasized that the Memorandum of Understanding (MoU) would usher in an unparalleled influx of investments for the state’s residents. He reassured the community that the company is steadfast in delivering on its financial commitments, ensuring that the local populace would benefit significantly from this collaboration.
“The partnership we are signing today with China Overseas Technology Development Company Ltd is going to create over 50,000 employment opportunities to Osun indigenes.
“The company would first invest in agriculture and would set up a cocoa processing plant in Ife-ife, which will serve as its agricultural hub.
“The company will farm on over 20,000 hectares of land, generate green energy using solar which is starting from this palace.
“This palace will be powered by solar 100 per cent within the next 30 to 60 days when it is completed,” Ooni stated.
Oba Adeyeye Ogunwusi emphasized that Nigeria’s future in the oil and gas industry hinges on lithium, highlighting its pivotal role in powering battery electric cars and more.
He pointed out that the Chinese company has made substantial investments in Dubai, exceeding 10 billion U.S. dollars, and currently allocating over 4 billion dollars in South Sudan.
Furthermore, Oba Adeyeye Ogunwusi revealed the company’s readiness to double such investments in Nigeria, underscoring the vast potential for economic growth.
Governor Ademola Adeleke commended the initiative undertaken by the Ife king and praised the management of the Chinese company for choosing to invest in Osun.
He reiterated his dedication to boosting culture, tourism, and entertainment in the state, with the aim of enhancing the residents’ overall well-being.
During his speech, Zhang Xiaolin, the Managing Director/Chief Executive Officer of China Overseas Energy Development Ltd, extended his heartfelt congratulations to the Ooni on the occasion of Olojo 2023.
Xiaolin praised the esteemed traditional ruler for joining hands with the company and assured everyone present that the company is committed to honoring the terms outlined in the agreement.