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Governor Seyi Makinde of Oyo State has inked a significant agreement with Africorp Consortium, a Moroccan firm, to establish a multimillion-dollar factory in Ibadan, the state capital.
This move comes after fruitful discussions between the governor and the company’s stakeholders in Casablanca, Morocco.
Governor Makinde, in a statement released on Tuesday, revealed the outcome of his meeting with Africorp Consortium, chaired by Saad Berrada Sounni and led by CEO Jaafar Harti.
The consortium, parent company of Dolidol, has already secured the necessary land for the factory in Oyo State and paid the requisite fees.
Earlier engagements between the governor and Africorp Consortium in May 2023 set the stage for this development. During those discussions, the focus was on the consortium’s plans to invest in a multi-million dollar factory in Ibadan, citing the favorable business climate in Oyo State.
Expressing optimism about the venture, Governor Makinde emphasized his administration’s commitment to providing full support to Africorp Consortium.
He highlighted the diverse business interests of the consortium, spanning agro-industries, mining, education, mattress production, wood carpentry, and PET recycling.
The memorandum of cooperation signed between the Oyo State government and Africorp Consortium signifies a significant step towards realizing the establishment of the factory in Ibadan. With this collaboration, both parties look forward to the economic growth and job opportunities that the project will bring to the state.
In May 2023, Governor Makinde initially disclosed ongoing discussions with Africorp Consortium regarding the establishment of a factory in Oyo State. At the heart of these discussions was the consortium’s intention to invest in a multi-million dollar project in Ibadan, motivated by the conducive business environment in the state.
During the earlier meeting, Governor Makinde assured Africorp Consortium of his administration’s unwavering support for their business endeavors, underscoring the potential benefits for both parties involved.
