Olojo Festival 2023: Ooni of Ife Partners Biggest Chinese Company, Set To Invest In Agriculture, Green Energy, Other Areas 

The Ooni Of Ile Ife, Oba Adeyeye Enitan Babatunde Ogunwusi, Ojaja II as part of the activities to celebrate the 2023 Olojo Festival has officially partnered and signed a Memorandum of Understanding, MoU, with the biggest Chinese Company to invest in Agriculture, Green Energy and explore the gold, lithium and other minerals resources in Osun State. 

Speaking during the signing of the MoU, with the Chinese Company known as China Overseas Energy Development Technology Limited, Oba Ogunwusi revealed that 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 added that, the Chinese Company, China Overseas Energy Development Technology Limited, is one of the biggest company in the entire China, Asia and in the world. He stated that the signing of the MoU will help Ile Ife and Osun State as a whole to enjoy an unprecedented investment flow in the State. 

Oba Ogunwusi 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. 

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 a massive investments 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. 

According to Oba Ogunwusi, he said, “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. 

The first low hanging fruit is for them to invest in Agriculture. They want to set up a cocoa proceeding 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% within the next 30 to 60 days when it is already completed”, he assured. 

Speaking further, Oba Ogunwusi stated that the future of the 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 benefits immensely from this strategic alliance with the same Chinese Company controlling the biggest company in Dubai. 

“In Dubai alone, the Chinese Company have invested more than 10 billion dollars. In South Sudan right now, they are investing over 4 billion dollars. They are now ready to invest the double in Nigeria”, Oba Ogunwusi hopeful.

The Ooni of Ile Ife, Oba Ogunwusi used the opportunity to commend and appreciate the Governor of Osun State, Senator Ademola Adeleke for giving the Ife people more than six cabinets seats in Osun State especially Modakeke. “It has never happened in a long time. The Governor has united our Communities. We are very proud of you. The spread hasn’t happened like this in a long time”, he stressed.  

On his own part, the Governor of Osun State, Senator Ademola Adeleke, while welcoming the foreign investors, thanked the Ooni of Ile Ife, Oba Oba Adeyeye Enitan Babatunde Ogunwusi 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 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, Mr. Zhang Xiaolin, the Managing Director/Chief Executive Officer, China Oversea Energy Development Ltd, congratulated Ooni on the celebration of Olojo 2023.

Xiaolin also applauded the traditional ruler for partnering with the company and pledged that the company would adhere to the agreement terms.