The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, has entered into a significant partnership with China Overseas Energy Development Technology Ltd, aimed at generating employment opportunities for more than 50,000 indigenes of Osun State, Nigeria.
The Memorandum of Understanding (MoU) was signed under a community and private partnership arrangement in Ile-Ife. This collaboration entails investments in various sectors, including agriculture, green energy, gold, lithium, and other mineral resources in Ile-Ife and the state.
The Chinese company’s focus will encompass the development of agriculture, mechanized farming, and large-scale cocoa production. Oba Adeyeye Ogunwusi emphasized that the MoU would facilitate a substantial influx of investments into Osun State while assuring that the company is committed to providing the necessary funds for the initiatives.
According to the monarch, “The partnership we are signing today with China Overseas Technology Development Company Ltd is going to create over 50,000 employment opportunities for 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.”
Furthermore, the company plans to cultivate over 20,000 hectares of land for green energy production using solar technology. The Ooni mentioned that the palace itself would transition to 100% solar power within the next 30 to 60 days upon completion of the project.
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Oba Adeyeye Ogunwusi also highlighted the growing importance of lithium in the energy sector and the future of electric vehicles, stating, “The future of Nigeria’s oil and gas lies in lithium; soon, lithium will be the primary means to power battery electric cars.”
The CEO of China Overseas Energy Development Technology Ltd, Zhang Xiaolin, congratulated Ooni on the celebration of Olojo 2023 and commended him for the partnership. The Chinese company pledged to adhere to the terms of the agreement.
Governor Ademola Adeleke of Osun State praised the initiative by the Ooni and the management of the Chinese company for their commitment to invest in the state. He also reiterated his commitment to promoting culture, tourism, and entertainment to enhance the well-being of Osun residents.
This partnership represents a significant step toward economic development and job creation in Osun State, aligning with efforts to harness the state’s potential for growth and prosperity.
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