Aiyedatiwa inaugurates technical committee to revive Olokola free trade zone

….Sunmonu promises early submission of report

By Tolulope Eniola

Ondo State Governor, Dr. Lucky Orimisan Aiyedatiwa, on Monday inaugurated a Technical Committee on the Olokola Free Trade Zone (OKFTZ), marking a renewed effort by the state government to revive the long-abandoned industrial project and unlock its economic potential.

Speaking at the inauguration ceremony held at the Governor’s Office, Alagbaka, Akure, Aiyedatiwa described the move as a significant step towards reactivating and optimising the Olokola corridor, which was conceived over two decades ago as a major industrial, maritime and logistics hub.

The governor recalled that the Olokola Free Trade Zone project was established in 2005 through a joint initiative of the Ondo and Ogun State governments, with a vision to transform the South-West coastline into a strategic economic gateway for Nigeria. He, however, lamented that the project had remained largely dormant due to policy gaps, coordination challenges and delays in implementation.

“The Olokola vision has slept for close to two decades. Today, we are taking a remarkable step to wake up the sleeping giant and reposition the corridor for economic growth and industrial development,” he said.

Aiyedatiwa noted that the people of Ondo State have long looked forward to the project as a catalyst for job creation, industrialisation and investment inflows, stressing that his administration is determined to ensure that the free trade zone moves from concept to reality.

He also reaffirmed the state’s readiness to welcome investors, citing the renewed interest of the Dangote Group in the project as a major boost to efforts aimed at reviving the zone.

According to the governor, President of the Dangote Group, Aliko Dangote, recently expressed commitment to returning to Olokola to develop what he described as the largest industrial and free trade hub in Nigeria, complete with independent power generation, gas infrastructure, cement production facilities and a plug-and-play environment for investors.

Aiyedatiwa disclosed that contractors are expected to be mobilised to the site within months, while full-scale construction is projected to commence before the end of the year.

The governor said members of the Technical Committee were selected based on their competence, integrity and experience in infrastructure, finance, law, trade and project management.

The committee is chaired by Chief Bode Sunmonu, while Barrister Yinka Orokoto, Mr. Sola Adebisi, Mr. Idowu Ojo and Engr. Femi Akarakiri will serve as members. Barrister Omomowo Emmanuel will serve as secretary.

He explained that the committee’s mandate includes reviewing legal and ownership frameworks guiding the project, engaging key stakeholders, verifying land status within the zone, addressing community-related issues, facilitating collaboration with the Ogun State Government and advising the state government on matters relating to the free trade zone.

Charging the committee members to deliver on their assignment, Aiyedatiwa emphasised that they have been given six weeks to submit their report, noting that the timeline aligns with the schedule outlined by the Dangote Group for the commencement of project activities.

“I charge you to work with speed, transparency and patriotism. This is an urgent and historic mandate. Think boldly but execute meticulously,” he said.

The governor assured the committee of the full support of his administration, directing relevant ministries, departments and agencies, including the Ondo State Development and Investment Promotion Agency (ONDIPA), to collaborate closely with it.

He expressed confidence that the committee’s work would pave the way for wealth creation, employment opportunities and industrial growth in the state.

The inauguration formally signals the beginning of a fresh chapter in efforts to transform the Olokola Free Trade Zone into a major industrial and economic hub for Ondo State and Nigeria.

In his acceptance speech, Chairman of the Technical Committee, Chief Bode Sunmonu, assured the governor that members would deliver on their mandate within the stipulated period, revealing that work had commenced even before the formal inauguration.

He commended Aiyedatiwa for his leadership and commitment to reviving the project, noting that the conducive investment environment created by the administration contributed to the return of the Dangote Group.

Describing the development as a major boost for industrialisation, job creation and economic prosperity, Sunmonu recalled that the Dangote Refinery employed about 67,000 workers in Lagos State, adding that Ondo residents would have benefited significantly if such a project had been located within the Olokola axis.

He noted that the benefits of investments in the zone would be shared by Ondo and Ogun states irrespective of location and pledged that all technical requirements would be handled transparently and in line with global best practices.

According to him, the committee had already held a pre-inaugural meeting and begun sourcing relevant documents. Although given six weeks to complete its assignment, he said members were working towards submitting a draft report within four weeks.

Sunmonu expressed confidence in the project’s success, recalling that Customs operations had previously commenced in the zone before progress was halted by policy and political gaps.

Earlier, the Chief Executive Officer of ONDIPA, Mr Emmanuel Omomowo, pledged the agency’s full support for the Technical Committee on the Geo-Local Africa Zone project.

He described the inauguration as a landmark event marking a critical stage in efforts to revive a project that had remained an unrealised aspiration for Ondo State for nearly two decades.

Omomowo said the renewed interest of the Dangote Group reflected the significance of the project and was a direct outcome of the foresight of Governor Aiyedatiwa’s administration and its determination to harness the opportunity for the benefit of the people.

The ONDIPA boss said the constitution of the committee underscored the administration’s commitment to the actualisation of the project and assured the governor that the agency would provide the support, coordination and institutional backing required for the successful execution of its mandate.

Dignitaries at the event included 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; Deputy Speaker of the House of Assembly, Rt Hon Ololade Gbegudu; Director-General of OSRC Media Group, Mr Kenneth Odusola-Stevenson; State Coordinator of Renewed Hope Ambassadors, Rt Hon Victor Olabimtan; and Chairman of the Ondo State Internal Revenue Service, Mr Bayo Rojugbonkan, among others.