Ogun State Attracts $50 Million Investment from Mamuda Group to Boost Food, Beverages, and Agro-Processing Industries
Ogun State Attracts $50 Million Investment from Mamuda Group to Boost Food, Beverages, and Agro-Processing Industries
Mamuda Group Nigeria Limited plans to invest $50 million in Ogun State through its subsidiary, Mamuda Beverages. The company, which operates in the food, beverages, care, and agro-processing sectors, announced this development during a meeting with Ogun State Governor, Prince Dapo Abiodun, held at the Governor’s office in Oke-Mosan, Abeokuta, on Tuesday.
Group Chairman, Mr. Hassan Hammoud, revealed that the first foundation stone for Mamuda Beverages would be laid next month. He emphasized that the company’s investments in Ogun State would be phased, with plans to establish additional facilities in food, care, and agro-processing industries within the state.
“Hailing from Kano, Mamuda Group has diverse operations including Mamuda Industries, a leather factory for exports to Europe and other parts of the world; Mamuda Agro, producing agricultural sacks; Mamuda Foods, a confectionery manufacturer; Mamuda Beverages, which handles carbonated soft drinks; and Mamuda Care, specializing in detergents and beauty products. Currently employing around 13,000 workers in Kano, we aim to have a similar number in Ogun within the next five to six years,” Hammoud stated.
He also announced that Mamuda Group would initially employ approximately 1,500 workers in Ogun, with plans to expand its workforce to 3,000 following the completion of the beverage company’s expansion.
Expressing appreciation for Ogun State’s conducive business environment, Hammoud praised Governor Abiodun for making the state highly attractive to investors. “Ogun is the best destination for business growth in Nigeria. The environment is so welcoming that investors would not want to miss out. Its strategic location bordering Lagos and near Ibadan and Benin makes it ideal for regional market coverage, offering a competitive edge,” he said.
In his response, Governor Abiodun highlighted the state’s efforts to improve its global ranking on the ease of doing business. He pointed out that Ogun has recently built the country’s most well-equipped airport, situated within an industrial zone, and is one of only six licensed industrial zones in the country that are already operational.
The Governor also mentioned the creation of the Business Environment Council, which has fostered investor confidence. He announced that plans are underway to construct a dry port along the railway line, which will facilitate the importation of raw materials. This dry port will enable goods to be cleared locally, reducing reliance on Lagos and cutting down on demurrage costs and delays.
“Once operational, the dry port will allow importers to clear goods directly in Ogun, saving time and money. The railway network will connect directly to the port, streamlining logistics and enhancing Ogun’s standing as an industrial hub,” Abiodun stated.
