Governor Dapo Abiodun of Ogun State has positioned his state as a rising hub for oil and gas investment, inviting Brazilian energy companies to explore key opportunities during an investment summit held in Rio de Janeiro on the sidelines of the BRIC Summit.
At the summit, Abiodun spotlighted the Olokola Liquefied Natural Gas (LNG) project, located along Ogun’s coastline, as a major untapped opportunity. He noted that the Olokola region hosts Nigeria’s deepest sea point, making it ideal for a large-scale LNG terminal, fertilizer production facilities, and other energy-related infrastructure.
“We’re opening Ogun up to serious investment in LNG, gas processing, and energy logistics,” the governor said. “The location is right, the policies are in place, and we’re ready to partner.”
Ogun State’s delegation pitched the Olokola Free Trade Zone as a future energy export corridor, leveraging its proximity to Lagos and direct access to international shipping routes. Abiodun emphasized the state’s potential to become a key gateway for oil and gas distribution, not only within Nigeria but to global markets.
The governor also promoted investment in gas-based industries, particularly fertilizer production, which depends on natural gas as a key input. He encouraged Brazilian firms to take advantage of these upstream and midstream opportunities, while pointing to Ogun’s transparent regulations, available land, and investor-focused policies.
In addition to traditional oil and gas ventures, Abiodun called for partnerships in renewable energy and power generation, outlining Ogun’s interest in diversifying its energy mix to support industrial expansion and rural electrification.
Top Nigerian officials who attended the summit — including President Bola Tinubu, Foreign Affairs Minister Yusuf Tuggar, Finance Minister Wale Edun, and CBN Governor Yemi Cardoso — all echoed confidence in the country’s economic outlook. They noted improving macroeconomic conditions and policy stability as positive signals for long-term energy investment.
Abiodun said Ogun’s engagement with Brazil is part of a broader international effort to attract serious players into Nigeria’s energy space. He expressed optimism that talks with Brazilian investors would soon lead to tangible outcomes — particularly in LNG development, fertilizer production, and energy infrastructure.
“We’re not just seeking investment. We’re offering a launchpad for energy growth in Nigeria and across West Africa,” Abiodun said.
