Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,237 members, 7,957,559 topics. Date: Tuesday, 24 September 2024 at 02:35 PM |
Nairaland Forum / Nairaland / General / Investment / Lagos Real Sector Investments Moving To Ogun State (20087 Views)
Breaking News: Don’t Invest In Lagos Real Estate Until You See This. / Invest In Lagos Real Estate / Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (Reply) (Go Down)
Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 6:46pm On Dec 18, 2017 |
November 22nd, 2017 Editor Economy 0 comments A three-year data dealing with the direction of manufacturing and agro processing investments show that Ogun is elbowing Lagos in new investments. [b]Data by the Manufacturers Association of Nigeria (MAN), analysed by BusinessDay, show Ogun State has over 70 percent share of manufacturing investments in the country between 2014 and 2016. In 2014, manufacturers invested N691.77 billion, out of which N514.87 billion went to Ogun State, representing 74.42 percent of the total . Apapa and Ikeja in Lagos contributed N15 billion and N85 billion to the investments respectively, representing a combined 15 percent of the total. Out of the N180.12 billion invested in the manufacturing and agro-allied industries in Nigeria in the first six months of 2015, N128.3 billion went to Ogun, representing 71.23 percent. Ikeja and Apapa industrial zones got N15.74 billion and N6.98 billion, representing 8.7 percent and 3.9 percent share of the total respectively. Similarly, manufacturing investments worth N309.33 billion were made in H2 of 2015, out of which N302.26 billion went to Ogun, representing 97.7 percent of the total. Apapa and Ikeja shared the remaining less than three percent with other industrial zones across the country. In the first half of 2016, total investments estimated at N54.55 billion were made by manufacturers in the country, out of which N37.51 billion moved to Ogun within the period. This means that 69 percent of all investments within H1 of 2016 were channelled to Ogun State. Apapa and Ikeja shared the remaining 31 percent with other industrial zones such as Edo/Delta, Imo/Abia, Oyo/Ondo/Osun/Ekiti, Kano/Sharada/ Challawa, Kano Bompai, Anambra/Enugu, Bauchi/Benue/Plateau, Rivers, Kwara, and Abia. In the second half of 2016, MAN survey shows that N313.62 billion worth of investments were directed to Ogun out of the total N448.94 billion. This represents 70 percent of the total. Like in the first half, Apapa and Ikeja industrial zones stampeded for the remaining 30 percent investments with other zones[/b]. MAN is the largest manufacturing association in West Africa with over 2,000 companies as members. Frank Udemba Jacobs, president of MAN, told Real Sector Watch that manufacturers find Ogun as a good investment destination due to the government’s commitment to industrialisation. “Manufacturers are happy with Ogun because they get incentives from the government,” said Jacobs. Manufacturers say they get tax and land rebates in Ogun, which lowers production cost in the long run. It is also easier and seamless to get certificate of occupancy (C of O) in Ogun, a manufacturer in the food and beverage industry told BusinessDay. There is also a one-stop shop that allows investors to have a single point of contact for their dealings with the various ministries, departments and agencies of the state. The cost of doing business in the state is also less when compared with Lagos. “There is less harassment from touts in Ogun and the traffic is light, while there is more available accommodation for staff in the state,” another investor told BusinessDay. Jon Tudy Kachikwu, chairman of the SME Group of the Lagos Chamber of Commerce and Industry (LCCI), said it takes about 30 days for agro processors and SMEs to get C of Os in Ogun. “You know businesses are many in Lagos, so there might be some ‘I don’t care attitude’ from some government agencies. Again , people prefer Ogun because of multiple taxation and cost of the environment in Lagos,” Kachikwu, an agro processor and exporter, said. In the three-year review, more investments moved to Agbara, Igbesa, Abeokuta , Sango-Otta, Ibafo, Mowe, Ijebu-Ode and Sagamu industrial clusters, all in Ogun State. In 2014 alone, new investors such as Shongai Technologies Limited, Ijako in Sango-Otta, Apples and Pears Limited, Ceplas Farms Limited, Greenlife Bliss Healthcare Limited, and Sumo Steel Limited, berthed Ogun. In the last three to four years, manufacturers have either moved from Lagos to Ogun or relocated their factories to the state, leaving only administrative offices in Lagos. Some of the companies that have done that include Fidson Healthcare, May & Baker, Pure Chemicals, Eagle Packaging, Nycil Limited, and Dufil, among others. “Seventy manufacturing companies were established during first four-year tenure of Governor Ibikunle Amosun of Ogun State and both existing and new companies were given some level of incentives and benefits that prompted rapid development in manufacturing sector,” said Bimbo Ashiru, commissioner for commerce and industry, said in 2014. Analysts say Ogun is benefitting from proximity to Lagos. A research done by The Economist in 2015 showed that an average company in Lagos 956 hours per year in paying taxes. However, things are changing in 2017 as the recent Doing Business Index by the World Bank shows some positive changes in doing business in Lagos. http://www.businessdayonline.com/industrial-data-show-lagos-losing-real-sector-investments-ogun-2/ 20 Likes 4 Shares |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 6:48pm On Dec 18, 2017 |
The stats [b]Data by the Manufacturers Association of Nigeria (MAN), analysed by BusinessDay, show Ogun State has over 70 percent share of manufacturing investments in the country between 2014 and 2016. 8 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by sarrki(m): 6:49pm On Dec 18, 2017 |
Know rivalry Its all omoluabis The sure banker is ocean and sea can't be moved to ogun 29 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 6:50pm On Dec 18, 2017 |
CC ODVanguard okway prowalker jaideyone totit JeetKuneDo demello 2 Likes 1 Share |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 6:54pm On Dec 18, 2017 |
sarrki: Yes bro. The rivalry is healthy, The development needs to spread for the overall betterment of the region. Oyo is next once the Lagos-IB rail is completed. A seaport is also needed in Ondo to open up that area Lagos, Ogun and Ondo all have access to Atlantic Ocean. We have water, we have land. We're not like those people that have to leave their potorpotor enclave to see what beaches look like 98 Likes 8 Shares |
Re: Lagos Real Sector Investments Moving To Ogun State by totit: 6:54pm On Dec 18, 2017 |
Ihatepork: Internet no go ever forgive me if I miss this thread and fail to bookmark it to flatten more heads. Oya nah..eyi'n boys ejekagbori wole. 40 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 6:56pm On Dec 18, 2017 |
Lagos has some very huge projects ongoing that would widen it's gap against Ogun when completed. Like Eko Atlantic, Dangote refinery and the rail project. But Ogun is moving very very fast atm and giving Lagos a good run for it's money. The point of this thread is to make it clear that the only state we should be comparing Ogun state with is Lagos. Any other nonsense dick contest with another state is a waste of time 61 Likes 2 Shares |
Re: Lagos Real Sector Investments Moving To Ogun State by totit: 6:58pm On Dec 18, 2017 |
Ihatepork: Baawaa o Now, this is what we're talking about. Mehnnnn..this is HUGE 29 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 7:01pm On Dec 18, 2017 |
The development in Ogun has really exposed some people's asses The same industries and firms that contributed to the development of Lagos are the same industries setting up shop in Ogun state hence the huge surge in IGR and overall development. Flatteees used to tell us that Lagos revenue comes from taxes collected in the port and in the market even though Lagos doesn't earn a dime from port revenues. everything goes to the FG. They would mention how they control alaba, computer village etc etc Ogun state has no port, has no big market yet the state generates higher IGR than all their potorpotor jungles combined. Anambra, Enugu, Abia all have big big big markets but none of them has been able to break the 20billion mark in IGR. When we tell them revenue is not about the number of markets, they would call us names No one would be mocking these people if they weren't chest-beating loudmouths. Nobody likes boastful people especially when the person isn't relevant in reality. You'll only end up being mocked. 76 Likes 5 Shares |
Re: Lagos Real Sector Investments Moving To Ogun State by ProWalker: 7:02pm On Dec 18, 2017 |
22nd of November 2017 I want to see the olodo that will question the authenticity of this report based on the date mentioned 26 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by totit: 7:03pm On Dec 18, 2017 |
Where are my smart niguurs okway, Electricdanger, chuksanambra, BabaRamota1980, Uglyojuku, Michael004, oodualover, AshiwajuFoward, deomello, kn23h(m), Ritchiee, ODVanguard, Jetleeee, YonkijiSappo, OoduaVanguard, scholes0,TheNewIbadan, Yorubanews 15 Likes 1 Share |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 7:07pm On Dec 18, 2017 |
The latest from Ogun state is that Honda Automobile has begun assemblage and production of 1,000 units of hi-tech Honda automobiles at its 38-year old assembly plant located in Ota, Ado-Ota Local Government Area of Ogun State http://www.businessdayonline.com/honda-begins-assembly-1000-units-automobiles-ogun/ 27 Likes 1 Share |
Re: Lagos Real Sector Investments Moving To Ogun State by helinues: 7:09pm On Dec 18, 2017 |
Iseya Omo Ogun 11 Likes 1 Share |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 7:11pm On Dec 18, 2017 |
I saw Lauretta Onochie's post where she showed the projects that have been commissioned since Buhari came in. She only posted the recent ones in Ogun state. Amosun has commissioned nothing less than 13 manufacturing facilities this year alone. 32 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by tdayof(m): 7:14pm On Dec 18, 2017 |
OYO state needs to start attracting more investments too. 21 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 7:19pm On Dec 18, 2017 |
tdayof: It's a process bro. Already, the Ibadan portion of Lagos-IB expressway is getting investments and it will soon get into the exterior. Someone even posted pictures of the new factories that have been sited there recently. The icing on the cake would be when the rail is completed. Lagos will be decongested and a lot of new businesses would be sited in the state 29 Likes 1 Share |
Re: Lagos Real Sector Investments Moving To Ogun State by Movic1(m): 7:20pm On Dec 18, 2017 |
Nice One. God bless Yorubaland... Meanwhile someone in the Est after reading this great NEWS.... 43 Likes 2 Shares
|
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 7:23pm On Dec 18, 2017 |
mynd44 lalasticlala |
Re: Lagos Real Sector Investments Moving To Ogun State by ipodstinks: 7:29pm On Dec 18, 2017 |
Ihatepork: 9 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by NCP: 7:29pm On Dec 18, 2017 |
Good job, Ogun. 12 Likes 1 Share |
Re: Lagos Real Sector Investments Moving To Ogun State by Pavore9: 7:29pm On Dec 18, 2017 |
Healthy rivalry. States should work hard to attract real investments not Governors junketing round the world pretending to attract investors or signing MOU that are more of a future tense ! 17 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 7:32pm On Dec 18, 2017 |
Pavore9: have a taste of MOU beer www.nairaland.com/attachments/5340963_p6131929562_jpeg71ac4f0ae60335fa57529b51af594697 45 Likes 2 Shares |
Re: Lagos Real Sector Investments Moving To Ogun State by Shuku0kukobambi: 7:37pm On Dec 18, 2017 |
Ihatepork: You hate pork, yet you forgot to invite me to this thread that is vomiting verifiable stats like its going out of fashion? I go soon force-feed you some pork if you're not kiafu!! This is great as its obvious that Yoruba land must progress whether haters like it or not. However, their main taxes (CIT) will be chopped by the FG. I think its high time this 13% derivation principle gets adopted in customs duties, vat, CIT Etc. Lagos is full. Ogun took over. Oyo is warming up to take it from Ogun and Oyo has even been on track since sef courtesy Pa Awo with the Oluyole industrial. Edumare bless ile Oodua and all who wish her well 39 Likes 3 Shares |
Re: Lagos Real Sector Investments Moving To Ogun State by Pavore9: 7:39pm On Dec 18, 2017 |
Ihatepork: Many governors since 1999 signed MOUs with fanfare with nothing on ground to show for them rather has been their means of siphoning funds while the uninformed applaud, so sad. 14 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by Realdeals(m): 7:42pm On Dec 18, 2017 |
Very true stats... 9 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by Shuku0kukobambi: 7:43pm On Dec 18, 2017 |
ProWalker: They will counter it o......with stats rendered at the village square under the moonlight by uncle shukudi who just came back from ragos 28 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 7:44pm On Dec 18, 2017 |
Shuku0kukobambi: 7 Likes
|
Re: Lagos Real Sector Investments Moving To Ogun State by tdayof(m): 7:44pm On Dec 18, 2017 |
Ihatepork: Yes, senator abiola Ajimobi is doing so much to attract investment to the free trade zone along lagos Ibadan express. 17 Likes
|
Re: Lagos Real Sector Investments Moving To Ogun State by obonujoker(m): 7:46pm On Dec 18, 2017 |
Beautiful...... this is what development should be..... 8 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by wristbangle: 7:47pm On Dec 18, 2017 |
It would be very bad if I ignore this beautiful thread. What more can I say than to appreciate God for his blessings on SW. When men says casting down, God bestowed his blessings upon us by the widespread of industrial evolution in Ogun which would soon spread to Oyo, Ondo, Osun and Ekiti. 29 Likes |
Re: Lagos Real Sector Investments Moving To Ogun State by Ihatepork: 7:49pm On Dec 18, 2017 |
Shuku0kukobambi: Before, they used to say "apart from Lagos, which other SW state is". Now, it's "apart from Lagos and Ogun, which other SW state is". Very soon, they'll add Oyo. Their job is to monitor our progress while erosion washes away their own potorpotor villages. 47 Likes 1 Share |
(1) (2) (3) (4) (5) (6) (7) (Reply)
Is Possibility Specialists A Scam? / MMM: If The Scheme Is Not Living On Debt, Then Where Are The Monies Stucked In? / My Stock Plays in US Stocks Market
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 63 |