Ogun State Attracts $1.8 Billion Industrial Investment as Lee Group Begins Construction of 29 Factories

Ogun State has taken another step towards expanding its manufacturing industry following the official groundbreaking of a $1.8 billion industrial park expected to accommodate more than 29 factories and create approximately 15,000 direct and indirect jobs.

The project, being developed by Lee Group of Companies, is designed to strengthen domestic manufacturing and position Ogun State as a major destination for industrial investment.

According to Punch Newspapers, the groundbreaking ceremony took place on Thursday, November 12, 2026, along the Lagos-Ibadan Expressway.

The event was attended by Ogun State Governor Dapo Abiodun, senior government officials, investors and representatives of the Lee Group.

A $1.8 Billion Investment in Nigerian Manufacturing

The development, known as First Industrial Park, will occupy approximately 450 hectares of land near the Sagamu Interchange.

The industrial park is expected to accommodate manufacturing businesses operating across multiple sectors.

These include food and beverages, footwear, leather processing, detergents, personal care products, automotive components, plastics and recycling.

According to Lee Group Chairman Sheau Fung Lee, approximately $1.8 billion will be invested in the development over the coming years.

The completed project is expected to have a gross development value of approximately $3 billion.

However, both the investment amount and development value are projections associated with a phased project, rather than evidence that all the proposed expenditure has already occurred.

15,000 Jobs Expected from the Project

One of the project’s major objectives is to create employment opportunities.

The developers estimate that approximately 15,000 direct and indirect jobs could emerge once the industrial park becomes fully operational.

These opportunities may include positions in manufacturing, engineering, logistics, warehousing and business support services.

The project could also generate demand for local suppliers and contractors.

Businesses involved in packaging, transportation, equipment maintenance and industrial services may benefit from the increased commercial activities expected around the facility.

The actual number of jobs created will depend on construction progress, factory completion and the scale of operations established at the site.

Reducing Dependence on Imported Products

Lee Group has indicated that the industrial park will prioritise manufacturing for the Nigerian domestic market.

Unlike industrial developments focused primarily on land leasing or property sales, the project is intended to accommodate operational factories producing goods for consumers and businesses.

This approach could support local value addition and strengthen Nigeria’s manufacturing capacity.

The proposed facilities may also create opportunities for technology partnerships between Nigerian companies and international manufacturers, including investors from China.

Ogun State Strengthens Its Industrial Position

Governor Dapo Abiodun described the project as an important development in Ogun State’s industrialisation strategy.

The state has attracted manufacturing investment partly because of its proximity to Lagos and access to major transportation corridors.

The location near the Lagos-Ibadan Expressway could provide distribution advantages for manufacturers serving customers across Nigeria.

According to the governor, approximately 80% of the project land will be dedicated to industrial production.

The remaining areas are expected to accommodate supporting infrastructure, including roads, warehouses, exhibition facilities and commercial services.

What This Means for Nigerian Businesses

The proposed industrial park could create new opportunities for manufacturers seeking access to shared infrastructure and industrial support services.

Small and medium-sized enterprises may also benefit from serving larger companies operating within the park.

However, the project’s long-term impact will depend on reliable electricity, adequate transportation infrastructure, skilled labour availability and a supportive regulatory environment.

The Bigger Picture

The commencement of construction represents progress for a project that was originally conceived several years ago.

If successfully delivered, the industrial park could strengthen Ogun State’s manufacturing base while supporting employment and domestic production.

For Nigeria’s economy, the development highlights the importance of attracting long-term industrial investment that translates into operational factories, sustainable jobs and competitive locally manufactured products.