By Dayo Johnson Akure

Twenty years after conception, Ondo State is making a fresh push to unlock the Olokola Free Trade Zone with the inauguration of a new technical committee by governor Lucky Aiyedatiwa.

Aiyedatiwa while inaugurating the 6-member panel in Akure, said that his administration will not let policy delays and coordination failures waste the zone’s coastal advantage any longer.

The move follows Dangote Group President Aliko Dangote’s commitment to site Nigeria’s largest industrial hub there with power, gas and cement facilities.

Aiyedatiwa described the event as a historic step towards reactivating the Olokola corridor, adding that his administration is determined to transform the project from a long-standing concept into a thriving economic reality.

He recalled that OKFTZ was conceived in 2005 as a joint initiative of Ondo and Ogun states.

Situated along both coastlines with direct access to the Atlantic Ocean, the zone was designed as a strategic economic gateway for the South-West and Nigeria.

According to him, the project has the potential to become one of Africa’s leading maritime, industrial and logistics hubs due to its location and natural resources.

Lamenting that the vision had remained dormant for nearly two decades, the governor said policy gaps, coordination challenges and implementation delays hindered its realisation despite the coastline’s potential for jobs and investments.

He assured investors of the state’s readiness to support investment initiatives, disclosing that during a recent visit, Dangote Group President Aliko Dangote expressed resolve to return to Olokola and develop the largest industrial and free trade hub in Nigeria there.

The proposed development will include independent power generation, gas infrastructure, cement production facilities and a plug-and-play environment for investors.

Aiyedatiwa said the committee was selected based on competence and experience in infrastructure, finance, law, trade and project management.

Chaired by Chief Bode Sunmonu, members include Barrister Yinka Orokoto, Mr Sola Adebisi, Mr Idowu Ojo and Engineer Femi Akarakiri, with Barrister Emmanuel Omomowo as secretary.

The committee will review all legal instruments governing the project, including joint venture agreements and documents relating to IPEM’s equity divestment to Dangote Group.

It will also interface with Dangote Group, NEPZA, Deep-Sea Port Authority, Ogun State Government and federal agencies.

Other tasks include verification of land ownership, resolution of community compensation issues, and engagement with host communities.

The governor charged members to work with urgency, transparency and patriotism, giving them six weeks to submit a report, in line with Dangote Group’s planned mobilisation.

Chief Sunmonu assured the governor of timely delivery, noting work had commenced before inauguration. He commended the administration’s investment climate and said benefits would be shared by Ondo and Ogun states.

ONDIPA CEO Emmanuel Omomowo pledged full support for the committee.