We will Revive Olokola Free Trade Zone, Says Akeredolu

By: David Fidelis

The Governor of Ondo State, Barr. Rotimi Akeredolu, SAN, has affirmed that his administration would not allow assets at the Olokola Free Trade Zone to waste away

Governor Akeredolu  stated this on Thursday, while  receiving the report of the Technical Committee set up to reactivate the Olokola Free Trade Zone in his office at Alagbaka, Akure.

Recall that the multi billion naira project was initiated by the late Olusegun Agagu’s Administration, but was abandoned  immediately after the exit of the former governor.

However, a ray of hope  appeared in the horizon for the abandoned  Olokola Free Trade Zone project as governor Akeredolu took the mantle of leadership.

While submitting the report, the Chairman of the committee, Engineer Funsho Kupolokun said the committee dealt with the issues and contacted good number of stakeholders including, business experts, before arriving at its recommendations.

Responding, Governor Akeredolu said,  “We have the Ororo OML 95. We have the OPL 241 . These are what a number of us called ‘great assets.

” We’re ready to work with anybody. We are ready to partner anybody who’s interested. These assets, particularly, oil blocks are veritable tools for economic development.

“The important thing is that we can’t allow it to just lie down there and at the end of the day licenses are withdrawn “, the Governor said.

Governor Akeredolu had in April, 2017, inaugurated a Nine-man committee to reactivate the project.

The committee is headed by Engr. Funso Kupolokun, a renowned Petroleum Engineer and one time Group Managing Director of the Nigerian National Petroleum Corporation, NNPC. Mr. Jones Abiodun who served as secretary.

Other members of the committee are Dr. Deji Oyedele, Chief Akin Aruwajoye, Niyi Adegbonmire SAN, Mr. Juwon Falope, Dr. Funmi Cooker and Mr. Oluwafemi Akarakiri.

The terms of reference of the committee included reviewing all the work that has been done to date on planning and implementation of OK – FTZ .

Second was to determine the current status of all the activities and make recommendations.

Not only that, the committee was also to review and assess the corporate structures for the operation and management of the Olokola Free Trade Zone and the mechanism for interfacing between Ondo and Ogun states and with the Nigerian Export Processing zones Authority.

Further the committee was charged to review and assess  the state of infrastructures in the zone, as regards road, waterways, electricity, water and communication.


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