By our Reporter
Governor Lucky Orimisan Aiyedatiwa of Ondo State has inaugurated a Technical Committee on the Olokola Free Trade Zone (OKFTZ), marking a significant step toward reviving the long-abandoned industrial project following renewed investment interest from the Dangote Group.
Speaking during the inauguration ceremony at the Governor’s Office in Akure on Monday, Governor Aiyedatiwa described the move as a historic milestone in the state’s quest to transform the Olokola corridor into a thriving economic and industrial hub.
The governor noted that the Olokola Free Trade Zone was conceived in 2005 as a joint initiative between the Ondo and Ogun State governments, strategically located along the Atlantic coastline to serve as a major economic gateway for the South-West and Nigeria at large.
According to him, the project possesses the capacity to become one of Africa’s leading maritime, industrial and logistics centres due to its strategic location and abundant natural resources.
Governor Aiyedatiwa lamented that despite its enormous potential, the project had remained dormant for nearly two decades due to policy inconsistencies, coordination challenges and implementation delays.
He said the people of Ondo State had long anticipated the economic benefits of the project, including thousands of jobs, increased investments and accelerated industrialisation.
The governor disclosed that the recent visit of Dangote Group President, Alhaji Aliko Dangote, to the state had rekindled hopes for the project, with plans underway to establish what is projected to be Nigeria’s largest industrial and free trade hub at Olokola.
He explained that the proposed development would feature independent power generation facilities, gas infrastructure, cement production plants and a fully serviced industrial environment designed to attract investors.
Governor Aiyedatiwa stated that members of the committee were carefully selected based on their competence, integrity and experience in key sectors including infrastructure, finance, law, trade and project management.
The committee is chaired by Chief Bode Sunmonu, while Barrister Emmanuel Omomowo serves as Secretary. Other members include Barrister Yinka Orokoto, Mr. Sola Adebisi, Mr. Idowu Ojo and Engineer Femi Akarakiri.
He charged the committee to conduct a comprehensive review of all legal, administrative and operational frameworks relating to the project, including agreements, equity ownership structures and land-related issues.
The committee is also expected to engage key stakeholders such as the Dangote Group, Nigeria Export Processing Zones Authority (NEPZA), the Ogun State Government and relevant federal agencies, while addressing community-related matters and ensuring sustained support from host communities.
Governor Aiyedatiwa urged members to approach their assignment with urgency, transparency and patriotism, revealing that they have six weeks to submit their report in line with the Dangote Group’s planned mobilisation schedule.
Responding on behalf of the committee, Chairman Chief Bode Sunmonu assured the governor of the members’ commitment to delivering on their mandate within the stipulated timeframe.
He disclosed that preliminary work had already commenced ahead of the formal inauguration and commended the governor’s leadership in creating a conducive environment that attracted the return of the Dangote Group to the Olokola project.
Sunmonu described the initiative as a major catalyst for industrialisation, job creation and economic prosperity for both Ondo and Ogun states, pledging that the committee would carry out its assignment in accordance with global best practices.
Earlier, the Chief Executive Officer of the Ondo State Development and Investment Promotion Agency (ONDIPA), Mr. Emmanuel Omomowo, described the inauguration as a landmark event in the state’s efforts to revive a project that had remained unrealised for nearly 20 years.
The event was attended by top government officials and dignitaries, including Deputy Governor Dr. Olayide Adelami, Speaker of the Ondo State House of Assembly Rt. Hon. Olamide Oladiji, Chief Judge of Ondo State Justice Olusegun Odusola, Chief of Staff Prince Segun Omojuwa, members of the State Executive Council and other stakeholders.
