System Analyst
March 1, 2026
Ministry of Federal Affairs Abuja, Nigeria.
27/02/2026
The Osun State Government is pleased to announce a significant milestone in its efforts to attract foreign investment and drive economic growth. The state has secured a $5 million investment from Al Liwan Group Limited, a renowned international investment firm, for the development of the Owala Water Dam project.
This major investment is expected to create numerous employment opportunities, stimulate economic activity, and boost the state’s internally generated revenue. The Commissioner for Federal Affairs, Osun State, Mrs Adenike Adeleke, disclosed this while receiving a delegation from Al Liwan Group Limited, led by its Founder and Group Chief Executive Officer, Michael Gale, in Abuja on Friday.
According to Mrs Adenike Adeleke, the investment firm is prepared to commence the Owala Dam project with an initial funding package of $5 million, with potential for future scaling up. She stated that the investors are ready to mobilize to site immediately the Osun State government formally signs off on the project.
The Owala Water Dam project is expected to have a significant impact on the local community, providing employment opportunities and improving the state’s water resources. The project will also contribute to the state’s efforts to increase its internally generated revenue and stimulate economic growth.
Mrs Adenike Adeleke emphasized that the investment is a win-win for Osun State, creating massive jobs, attracting people into the state, and putting Osun back on the investment map. She expressed the state government’s commitment to creating a conducive environment for investors and encouraging private sector participation in the state’s development.
The Director of Al Liwan Group Limited, Bola Adefehinti, stated that the company is already executing projects in Nigeria across various sectors, including maritime, water resources, solid minerals, and energy. He noted that the Owala Dam project forms part of the firm’s short-term strategic plan, with $5 billion earmarked for its Nigerian operations.
Adefehinti highlighted the potential of the maritime and inland waterways sectors in driving Nigeria’s economic growth, stressing that Owala Dam presents opportunities in fisheries and reservoir-based development. He also noted that Osun State has strong prospects in gold mining and cocoa processing, which the company is considering for future investments.
The Founder and Group CEO of Al Liwan Group Limited, Michael Gale, stated that the firm’s model is to deploy private capital, take early risks, and develop bankable projects that can attract government and institutional funding. He emphasized that Nigeria is a key focus for the company, and they are looking for quick wins that can serve as case studies for successful private-sector investment working with government.
The Osun State Government welcomes this investment and looks forward to a fruitful partnership with Al Liwan Group Limited. We are committed to creating a business-friendly environment and encouraging private sector participation in the state’s development. This investment is a testament to the state’s potential and the government’s efforts to drive economic growth and development.
