The Ondo State Government has established a technical committee tasked with resolving the legal, administrative, and operational challenges that have hindered the Olokola Free Trade Zone (OKFTZ) project for years. Governor Lucky Aiyedatiwa inaugurated the seven-member panel on Monday, with the goal of unlocking the economic potential of the deep-sea port and industrial corridor located along the Ondo-Ogun border.
Background of the Olokola Free Trade Zone
The OKFTZ was envisioned as a major gas and industrial hub, but it has faced decades of delays due to funding gaps, inter-state disputes, and land ownership conflicts. The project, which spans both Ondo and Ogun States, is seen as a critical driver of economic growth in the region.
Composition of the Technical Committee
The committee is chaired by Bode Sunmonu, a seasoned technocrat and former Nigerian ambassador. Emmanuel Omomowo, Chief Executive Officer of the Ondo State Development and Investment Promotion Agency (ONDIPA), serves as secretary. Other members include Yinka Orokoto, Sola Adebisi, Idowu Ojo (Permanent Secretary of the Ministry of Finance), and Femi Akarakiri (Director at ONDIPA).
Terms of Reference
Governor Aiyedatiwa charged the committee with a clear mandate to chart a viable path forward. The terms of reference include:
- A complete legal review of all existing agreements and obligations.
- Extensive stakeholder engagement with host communities and potential investors.
- Meticulous land verification to resolve boundary disputes.
- Strengthening of community relations.
- Interstate coordination with Ogun State.
- Any other matters referred to it by the state government.
The committee is expected to operate strictly under these defined terms of reference. The statement from the governor's chief press secretary, Ebenezer Adeniyan, emphasized that the panel's work is crucial for unlocking the economic potential of the OKFTZ.
