Otunba Saheed Jibowu Ashogbon, US-Based Nigerian Commit $100 Million Investment to Catalyse Economic Growth Across All 36 States of Nigeria

In alignment with President Bola Tinubu’s initiative to attract foreign investors, Otunba Saheed Ashogbon, a Nigerian entrepreneur based in the United States, has declared his intention to invest $100 million across all 36 states of Nigeria. He is seeking the support of state governors to facilitate this ambitious venture.

During a press briefing on Wednesday in Lagos, Ashogbon, who has spent over three decades in the US, announced his return to Nigeria to launch an online auto auction platform aimed at clearing abandoned vehicles from the roads.

As the CEO of Asper Online Auction, Ashogbon emphasized that this enterprise would create employment opportunities for thousands of young people and generate significant tax revenue for the government. He has written to President Bola Tinubu and Governor Babajide Sanwo-Olu, requesting their support to initiate the business.

“I will need 50 hectares of land in Badagry, Epe, and Ikorodu to commence operations in Lagos. We have identified approximately 500,000 abandoned vehicles on the streets and roads of Lagos,” Ashogbon remarked.

He also disclosed plans to expand this business model to Ghana but expressed a preference to commence operations in Nigeria, contingent on receiving adequate support from the governors.

In a letter to President Bola Tinubu dated June 26, 2024, titled “Proposed Investment Opportunity to Benefit the Nation,” Ashogbon elaborated on his business proposition: “I aim to introduce a business that will significantly benefit the country. My proposal is to import an auction platform from the USA to sell all disused and abandoned vehicles located in Nigerian police stations nationwide and assist Nigeria Customs in auctioning these vehicles globally.”

He further added, “The total funds earmarked for this project in Nigeria amount to $100 million. We plan to establish our headquarters in Lagos and set up branches across all 36 states of the federation.”

Ashogbon, a businessman based in Atlanta, Georgia, is among the Nigerians whom President Tinubu urged to invest in Nigeria during the Eko Day festival in Atlanta in 2022.

He appealed to Governor Babajide Sanwo-Olu to provide land in Ikorodu, Epe, and Badagry for this business initiative, highlighting the considerable benefits to the state and its residents.

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