L-R: President, Inner Galaxy Group, Mr. Li Shuang; Ogun State Governor, Prince Dapo Abiodun and the Vice-President, Mr. Jackie Chen, during a visit to the office of the governor at Oke-Mosan, Abeokuta, on Tuesday.
The President of Inner Galaxy Group, Mr. Li Shuang, on Tuesday disclosed that his company was ready to set up a $400 million hot rolled coiled steel factory with the capacity to employ about 6,500 direct and indirect workers in Ewekoro Local Government Area of Ogun State.
Shuang made this known while leading a delegation of principal officials of the organization at the Governor’s office located at Oke-Mosan, Abeokuta.
He added that the company is expected to commence operations in April 2026, saying the organization, a multinational company with vast investments in Asia, the Philippines, Malaysia, and some African countries like Ghana and Angola, entered the Nigerian market in 2005, producing iron rods for the building industry.
Meanwhile, Governor Dapo Abiodun, in his remarks, expressed delight in the huge investment, as he ascribed the success to his administration’s deliberate and intentional move to make the state the leading industrial hub in Nigeria and the West Africa sub-region.
“This is a $400 million investment; this aligns with the President’s vision to ensure that we grow this economy to a trillion dollars, and I think that you will be contributing your quota in achieving that. We are excited that you will also be employing people.
“I will be commissioning a multimillion-dollar diagnostic equipment facility during the week. This administration has managed to attract quite a lot of industries in the last six years,” Abiodun said.
The Governor noted that the state is blessed with abundant human and natural resources, adding that alluvial gold had been discovered in large quantities, just as the state has the highest quality of lithium.
He continued, “I think it may interest you to know that we also have lithium in Ogun State; the lithium in Ogun State is meant to be the highest quality in Nigeria. So, it may be something you might want to also discuss.
“We are number one in non-oil revenue in Nigeria because two-thirds of the state sits on limestone. We have a lot of limestone here; we are actually number one in cement production in Sub-Saharan Africa, and we are number three in all of Africa,” the governor explained.
Governor Abiodun explained that his administration had put in place an integrated ecosystem of infrastructure to support investments coming into the state, emphasizing that required infrastructure like roads, rail, air, affordable housing accommodations, medical infrastructure, and schools have been made available in the state.