The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, has signed a memorandum of understanding with a Chinese company to create employment opportunities for over 50,000 Osun indigenes.

The Ife monarch signed the MoU with China Overseas Energy Development Technology Ltd on Tuesday in Ile-Ife under a community and private partnership arrangement.

Mr Ogunwusi said the company would invest in agriculture, green energy, gold, lithium and other mineral resources in Ile-Ife and the state. 

According to him, the Chinese company will also focus on developing agriculture, mechanised farming and producing cocoa in large quantities.

The ruler stated that the MoU would help Osun indigenes enjoy investment flow while assuring that the company would not disappoint in funds.

“The partnership we are signing today with China Overseas Technology Development Company Ltd is going to create over 50,000 employment opportunities for Osun indigenes,” Mr Ogunwusi explained. “The company would first invest in agriculture and would set up a cocoa processing plant in Ife-ife, which will serve as its agricultural hub.”

The Ife monarch added, “The company will farm on over 20,000 hectares of land to generate green energy using solar, which is starting from this palace. This palace will be powered by solar 100 per cent within the next 30 to 60 days when it is completed.”

Mr Ogunwusi said the future of Nigeria’s oil and gas lies in lithium, noting that soonest lithium would be the only means to power battery electric cars, among others.

“In Dubai alone, the Chinese company has invested more than 10 billion U.S. dollars. In South Sudan right now, they are investing over 4 billion dollars. They are now ready to invest double of such investment in Nigeria,” stated Mr Ogunwusi.

Governor Ademola Adeleke lauded the Ife king for the initiative and the management of the Chinese company for agreeing to invest in Osun.

Mr Adeleke restated his commitment to promote culture, tourism and entertainment in the state to improve the wellbeing of residents.

Zhang Xiaolin, the Chinese firm’s CEO, congratulated Ooni on the celebration of Olojo 2023.

Mr Xiaolin also commended him for partnering the company, pledging that it will adhere to the agreement terms. 

(NAN)