Ogun Attracts $100m Oil Palm Investment as Kwara Garment Factory Hits 2,000 Jobs

Ogun State attracted an initial $100 million investment from PRESCO PLC to expand oil palm cultivation and processing in the state, Governor Dapo Abiodun confirmed this week, describing the investment as a significant boost to Ogun’s agricultural and industrial development ambitions as the state sought to position itself as a leading agro-industrial hub in southwestern Nigeria.

PRESCO PLC, one of Nigeria’s largest listed agro-industrial companies with operations across the oil palm value chain, said the Ogun investment would expand its plantation acreage, increase crude palm oil processing capacity, and support downstream value addition including the manufacture of palm-based consumer goods. The company said the investment reflected its confidence in Ogun State’s investment environment and the federal government’s improved macroeconomic fundamentals.

Kwara Garment Factory Creates 2,000 Jobs

In a separate agro-industrial success story from the north, the Kwara Garment Factory, described as one of the flagship industrial projects of Governor AbdulRahman AbdulRazaq’s administration, had created employment for more than 2,000 workers, Vanguard reported this week. The factory, which produces garments for both domestic and export markets, had become a visible symbol of the state’s push to diversify its economy beyond traditional public sector employment.

The Kwara jobs figure was particularly notable given the CBN’s own Business Expectations Survey showing a persistently negative employment outlook across Nigeria in May 2026, and the Manufacturers Association of Nigeria’s warning that bank credit to the manufacturing sector was declining sharply. The Kwara Garment Factory demonstrated that with the right enabling environment and investment, manufacturing job creation was achievable at scale even in the current economic climate.

State-Level Wins Amid National Economic Headwinds

Furthermore, the Ogun oil palm investment and the Kwara garment factory jobs came against a backdrop of broader national economic challenges including flooding in Lagos and the South-South, elevated petrol prices despite falling crude costs, and a manufacturing sector under credit stress. Still, the two state-level achievements offered evidence that targeted industrial policy and investor-friendly governance could generate measurable economic outcomes. Notably, Governor Abiodun also facilitated direct flights from Makkah to Gateway International Airport in Ogun State for returning Hajj pilgrims, demonstrating active state-level service delivery. Consequently, state governments are increasingly stepping up as engines of economic development even as national macroeconomic policy debates continue in Abuja.