Ahead of the exploration to discover crude oil in Ogun State, the state government said the discovery of oil in commercial quantity within its territory would engender economic boost, ensure industrial growth and the overall well-being of residents.
Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela, made this known while featuring on a television programme in Abeokuta, noting that the discovery of oil and gas would make the State become an oil-producing state, leading to influx of new investments through activities of stakeholders in the oil and gas value chain.
Addressing concerns about environmental degradation and protection of host communities as a result of the exploration, Mr. Sofela stated that the Petroleum Industry Act (PIA) has provisions to protect the interest of host communities and protect the environment, assuring that both the federal and state government would ensure production of oil was in accordance with the law.
The Commissioner, who revealed that government had created conducive ambience for a successful exploratory exercise and subsequent oil production, stated that members of the host communities and all relevant stakeholders would be engaged before the exploration, adding that Governor Abiodun, as a vision-driven administrator, had also taken step to create a ministry that would manage the activities of stakeholders in the sector.
Speaking on the efforts to aid the growth of small businesses, the Commissioner stressed that the Abiodun-led administration is not just a government that focuses on the development of industries alone, but created an enabling environment for business entities to thrive, thereby witnessing an increased rate of industrial expansion, as more investors were establishing industries and expanding their facilities.
He added that small businesses were being supported through different interventions including, National Micro, Small and Medium Enterprises (MSMEs), Business Clinics, inauguration of the Ogun Fashion Hub and Modern Adire Shared Facility, in addition to Presidential Conditional Grant for Nano Businesses, Ogun Covid-19 Action Recovery and Economic Stimulus (OG-CARES), other financial interventions and capacity building programmes.
Sofela disclosed that government would soon commence another batch of Presidential Conditional Grants for Nano businesses, saying the intervention is open to all qualified Nano business owners.
