Ooni signs MoU with Chinese firm on Agriculture, energy
By Jeleel Olawale
The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, has signed a Memorandum of Understanding, MoU, with the biggest Chinese Company to invest in Agriculture, Green Energy and explore gold, lithium and other minerals resources in Osun State.
The MoU was signed in the presence of the Osun State Governor, Senator Ademola Nurudeen Adeleke who visited Ooni in his palace at the grand finale of the 2023 Olojo festival.
Signing the MoU with the China Overseas Energy Development Technology Limited, Oba Ogunwusi said the Memorandum of Understanding will focus on the development of Agriculture, mechanized farming, production of cocoa in large scale, solar energy, exploration of lithium, gold, liquified natural gas and other major mineral resources in Osun State.
Oba Ogunwusi noted that the Chinese Company, China Overseas Energy Development Technology Limited, is one of the biggest companies in the entire China, Asia and in the world. He stated that the signing of the MoU would help Ile Ife and Osun State as a whole to enjoy unprecedented investment flow in the State.
He explained that the Chinese Company is already located in more than 50 countries of the world and with establishments in more than 200 cities all over the world.
According to Oba Ogunwusi, the partnership we are signing today with China Oversees Technology Development Company Limited is going to give over 50 thousands employment opportunities to Osun State indigenes.
“They want to set up a cocoa processing plant in Ife where they are going to have the Agriculture hub. They will farm on over 20,000 hectares of land. They will generate green energy using solar. And they are starting from this palace. This palace will be powered by solar 100 percent within the next 30 to 60 days when it is already completed,” he assured.
He assured the people of Osun State that he is confident the Chinese Company will hit the ground running with the MoU in place to effect massive investment in Agriculture, Farming, Mechanized Farming, Mining as well as the full scale exploration of the gold, lithium and other essential mineral resources in Osun State with the funding coming from them with their several billions of dollars.
Oba Ogunwusi stated that the future of Nigeria’s oil and gas is lithium.
“Very soon, I see the Country’s oil and gas going down. What will be left for us in the State and in the Country will be lithium which can help us to power battery, electric cars and ceilings among many other things.”
He added that the partnership with the Chinese Company will be both Community and Public Private Partnership driven, which in the long run, will help the economies at the community levels to be emancipated.
“The Investments we are talking about is in excess of several billions of naira. I can tell you this categorically. But it will be on a large scale both for Osun and at the Federal Government level. The Chinese Company is the best producer of Liquified Natural Gas, LNG in the whole of China.
“We all need the support of each and everyone of us because we are going to spread the investments across the entire Osun State. It is not going to be limited only to Ile Ife. Other communities will also benefit immensely from this strategic alliance with the same Chinese Company controlling the biggest company in Dubai.
“In Dubai alone, the Chinese Company has invested more than $10 billion. In South Sudan right now, they are investing over $4 billion. They are now ready to invest double in Nigeria,” Ooni stressed.
Speaking, the Osun State Governor, Senator Ademola Adeleke, welcoming the foreign investors, thanked Ooni of Ile Ife, Oba Adeyeye for his initiative to conceive the idea and bring it to reality and the Management of the Chinese Company for yielding and agreeing to invest heavily in Ile Ife and Osun State in general.
He however, restated his resolve and commitment to continue to promote culture, tourism and entertainment in the State to improve on the wellbeing of his people.
In his remarks, the Managing Director/CEO, Zhang Xiaolin, China Oversea Energy Development Ltd, thanked the monarch for the opportunity given to them to invest in Osun State, and promised to fulfill their agreement. He said Africa is his second home and Ile Ife is the source, so he would not regret coming back home.
