Develop Ondo 2.0: As Ondo set to woo investors- A case of PPIMU oiling the wheel of Economic Development

Hakeem Gbadamosi writes on the recent concluded Develop Ondo summit, tagged “Develop Ondo 2.0” targeted toward attracting investors and create opportunities for the state.

The Second edition of the Investment Summit, tagged “Develop Ondo 2.0,” qhich aimed at fostering economic growth, creating jobs, and improving the lives of the people, has come and gone and the outcome of the summit indicated that it would not attract significant investments in gas adoption and related industries but will open create employment youths of the state and boost the economy of the state.

Ondo State, known as the Sunshine State, during the summit played host to the grand spectacle of its second edition of the Investment Summit, “Develop Ondo 2.0,” with the resounding theme of “Developing Possibilities.”

The summit, which held from the 24th to 26th of July, 2023, saw a confluence of internal and external stakeholders, magnates of industries, enterprising entrepreneurs, and eminent players from both public and private domains converged on Akure and explore and discover
the myriad investment opportunities and forge alliances that would facilitate the realization of an industrially driven economy, a vision passionately championed by Governor Arakunrin Oluwarotimi Akeredolu.

At the very epicenter of the summit’s focus stood the critical energy sector, an arena that has gripped the Governor’s attention with unwavering tenacity. This fervor led to the inception of the Ministry of Energy and Mineral Resources during Governor Akeredolu’s second term in office.

An exemplar of meticulous planning, the ministry now stands as one of the eight pillars of the REDEEMED Agenda, which presently spearheads the state’s development drive with a particular emphasis on ‘Energy, Mining, and Sustainable Industries’.

The essence of “Develop Ondo 2.0” extends beyond a mere show-and-tell exhibition. This convocation of aspirations embodies an unprecedented opportunity for potential investors to witness first-hand the prodigious accomplishments, the audacious vision, and the bountiful possibilities the state has to offer.

The government’s ardent desire to cultivate an industrially advanced economy opens vistas for strategic partnerships and groundbreaking strides in the energy sector and myriad other arenas of growth.

The triumph of the summit’s grandeur is but the unveiling of the carefully laid building blocks that bolster the Sunshine State’s exceptional achievements. Arakunrin Oluwarotimi Akeredolu’s current second term in office is underscored by the mantra of “One Administration,” an ethos that champions seamless collaboration amongst all government institutions to deliver effective service and foster holistic socio-economic development. Such concerted efforts are the cornerstone of Ondo State’s progress towards a radiant future.

Spearheading this transformation is the Performance and Project Implementation and Monitoring Unit (PPIMU), the delivery unit of the State, led by its Director General, Babajide Akeredolu. During the Develop Ondo 2.0 Investment Summit, PPIMU emerged as a true star, epitomizing the four foundational pillars of its operation – Coordination, Collaboration, Communication and Collection (of data).

PPIMU played a pivotal role throughout the summit’s planning and execution stages. From conceptualizing strategic themes and business case notes to facilitating engagements with esteemed donor partners like the United Nations Development Project (UNDP) and the European Union (EU), which bolstered the event’s credibility and ensured its resounding success. This level of communication and partnership allowed the summit’s objectives to be clearly outlined and expertly integrated into strategic frameworks.

One of PPIMU’s standout contributions was securing the expertise of Steers Business, a renowned data company. This partnership ensured that decision-making during the summit was data-driven, empowering potential investors with valuable insights into the energy sector’s prospects in Ondo State.

The summit’s meticulously planned panel sessions ignited stimulating discussions among thought leaders and experts. From “Finance and Investment Public Private Dialogue for SDG-Aligned Investments and Shift in Development Financing of Sub-National State” to “Plotting the Roadmap to Developing Possibility in the Oil-Bearing State,” each session tackled critical issues with depth and clarity. PPIMU’s insights enriched these discussions, paving the way for actionable recommendations that would significantly impact the state’s future.

Beyond the summit’s three-day extravaganza, PPIMU’s contributions have set the stage for even greater achievements. Key policy documents, such as the State Industrial Policy and the Investment Guide, have been expertly drafted and stand poised for implementation by the Ondo State government.

As the Performance and Project Implementation and Monitoring Unit, backed by support from the African Development Bank through its delivery unit, the Operational Office for Monitoring the Emerging Senegal Plan (BOS/PSE), PPIMU remains unwavering in its commitment to achieving the objectives of the REDEEMED Agenda.

The Develop Ondo 2.0 Investment Summit marks a significant milestone in Ondo State’s journey towards sustainable growth and prosperity. The seamless coordination and collaborative spirit fostered by “One Administration” have showcased the State’s potential as a promising investment destination. As Ondo State’s energy sector powers ahead, guided by visionary leadership and bolstered by PPIMU’s unwavering dedication, the Sunshine State is poised to shine even brighter on the global investment stage.

As the curtains fell on this momentous summit, one could not help but marvel at the sheer potential that resides within the Sunshine State’s grasp. With Governor Akeredolu’s steadfast commitment to fostering industrialization and economic growth, the path forward is illuminated by the very essence that earned Ondo State its moniker: sunlight.

As it basks in the glow of “Develop Ondo 2.0,” the state stands poised, ready to embrace a new era of progress, prosperity, and limitless possibilities. The future is undoubtedly bright for Ondo State, and the world eagerly awaits the dawn of its industrial prowess.