Africa’s First Disneyland to Rise in Ogun State with $2.5bn Investment
Olamilekan Ogunrinde
Ogun State has secured a landmark investment of up to $2.5 billion from MAG Group for the development of Africa’s first Disneyland-style resort. The project, to be located in Abeokuta, will feature hotels, water parks, and other leisure facilities, marking a significant milestone in the state’s tourism sector.
The investment is part of MAG Group’s plans to establish a world-class entertainment and tourism hub in Ogun State, valued between $1.8 billion and $2.5 billion. Ogun State Governor, Dapo Abiodun, highlighted that the state’s economy has grown from N3.5 trillion to N16 trillion over the past six years, showcasing rapid economic development and potential for further growth.
The Disneyland-style resort is expected to boost tourism in the state, with Olumo Rock, a popular tourist center, already generating N20 million weekly after its renovation. MAG Group’s Strategic Adviser, Fayad Fayad, praised Ogun State’s conducive business environment, vast land, good infrastructure, and skilled human capital, making it an attractive investment destination.
Governor Abiodun expressed excitement about the partnership with MAG Group, saying, “We remain committed to sustaining Ogun State as the investment destination of choice and the true gateway to prosperity.”
