Governor Lucky Aiyedatiwa has set the stage for what could become one of the biggest industrial transformations in Nigeria, inaugurating a Technical Committee to fast-track the revival of the long-dormant Olokola Free Trade Zone (OKFTZ) project in Ondo State.
The move comes amid renewed interest from the Dangote Group to establish what is projected to be Nigeria’s largest industrial and free trade hub along the Olokola corridor, a coastal asset that has remained largely underutilised for nearly two decades despite its vast economic potential.
Speaking during the inauguration, Aiyedatiwa described the committee’s formation as a “decisive step” towards unlocking the enormous opportunities embedded in the Olokola coastline, including industrial expansion, maritime development, investment inflows and large-scale job creation.
“For nearly two decades, the enormous potential of the Olokola corridor has remained largely untapped,” the governor said. “Yet, our coastline holds immense opportunities for industrial growth, maritime development, investment attraction, and the creation of thousands of jobs for our people.”
The governor stressed that his administration would not allow bureaucratic bottlenecks or unresolved issues to stall the project again, revealing that the committee had been handed a clear mandate to urgently tackle all legal, technical, infrastructural and community-related challenges standing in the way of the zone’s reactivation.
The planned revival has gained momentum following indications that the Dangote Group is considering massive investments in the area, a development that could dramatically alter the economic landscape of Ondo State and the wider South-West region.
Aiyedatiwa said the ultimate goal is to transform Olokola into a world-class industrial ecosystem equipped with modern infrastructure, independent energy solutions, efficient logistics networks and a business-friendly environment capable of attracting both local and foreign investors.
“The future of Olokola is not just about infrastructure,” he declared. “It is about jobs, economic prosperity, industrialisation and sustainable development for generations of Ondo State citizens.”
He charged members of the committee to carry out their assignment with patriotism, diligence and integrity, emphasizing that the success of the project would have far-reaching implications for economic growth and employment opportunities across the state.
The governor reaffirmed his administration’s commitment to converting Ondo State’s economic opportunities into tangible development, insisting that the state is determined to claim its place as one of Nigeria’s foremost destinations for investment, manufacturing and industrial growth.
If successfully revived, the Olokola Free Trade Zone is expected to emerge as a major industrial powerhouse, potentially attracting billions of dollars in investments and creating thousands of direct and indirect jobs, while strengthening Nigeria’s position as a leading industrial destination in Africa.
