OSOPADEC SEEKS FOREIGN INVESTMENT, PARTNERSHIPS TO ACCELERATE RIVERINE DEVELOPMENT
OSOPADEC Seeks Foreign Investment, Partnerships to Accelerate Riverine Development
The Ondo State Oil Producing Areas Development Commission (OSOPADEC) is seeking local and international partnerships and investments to accelerate sustainable development across its mandate areas.
The Commission’s Executive Chairman, Prince Olabiyi Olaleye Poroye, disclosed this during a meeting with the Board of Trustees of the Ugbo-Land Host Communities Development Trust at OSOPADEC headquarters in Oba-Ile.
Poroye said the development needs of riverine communities required the Commission to explore alternative funding sources beyond government allocations, adding that ongoing institutional reforms were aimed at improving efficiency and attracting credible development partners.
He listed infrastructure, education, water supply and human capital development among the Commission’s priorities, citing the ongoing Aboto–Atijere Road, township roads, concrete walkways, jetties and other projects across the mandate areas.
He also announced plans for another bursary scheme and an expanded scholarship programme to support indigenes pursuing further education and specialised professional training.
The chairman said OSOPADEC was exploring investments that could generate sustainable revenue and reduce dependence on government funding.
“We must invest today. This is not simply about what government can give us today; it is about building a system that can continue to support our people tomorrow,” he said.
Poroye added that the Commission had undertaken visits to China and Ghana to explore development models, investment opportunities and partnerships capable of unlocking the economic potential of the communities. He said OSOPADEC was also strengthening its engagement on climate change and environmental issues to draw international attention to the challenges facing Niger Delta riverine communities.
The Chairman of the Ugbo-Land Host Communities Development Trust’s Board of Trustees, Sir Benson Obayelu, commended Poroye’s efforts and called for stronger collaboration among government agencies, financial institutions, private investors, development organisations and host communities.
Obayelu said sustainable development required collective action and resources beyond the capacity of any single institution.
Similarly, former Clerk of the National Assembly, Prince Oluyemi Ogunyemi, praised OSOPADEC’s repositioning efforts and urged greater private-sector investment in infrastructure, transportation, energy and emerging sectors.
A representative of Chevron Nigeria Limited, Joshua Adeyemi, described the engagement as encouraging, emphasising transparency, accountability and trust as essential to successful partnerships.
Abdulrazak Abolarin, Business Executive, Southwest, Sterling Bank Nigeria, also highlighted the role of financial institutions in converting viable development proposals into sustainable projects.
In his remarks, OSOPADEC Permanent Secretary, Mr F. A. Omomowo, described the meeting as strategic and reaffirmed the Commission’s readiness to support genuine partnerships capable of delivering tangible benefits to communities in the oil-producing region.