Conglomerate, technical partner parley royal fathers in host communities

…as gov urges more investment across sectors

By Kayode Afolabi

A multi-pronged effort of Governor Lucky Aiyedatiwa of Ondo State in seeking serious investors to tap and refine crude oil from the oil-bearing state, may have begun to yield fruit, as South-west  States’ owned Odu’a Investment conglomerate has taken up the challenge.

Odua, launching out on oil-drilling exploration in costal communities of Ondo South senatorial district, through its technical partner, Bita Exploration and Production Limited, at the weekend notified Governor Aiyedatiwa of startup of activities on the Bita Marginal Field asset (PPL 249), as awarded by the Federal Government of Nigeria, through the Ministry of Petroleum Resources.

In the cheery news convened to the Governor through the Chairman, Board of Directors of Lagos Airport Hotel, a subsidiary of Odu’a Investment -Prince Peter Oyeleye Fasua, the Conglomerate said it had  begun to parley traditional rulers in the host communities in the oil-rich zone, starting with the Olugbo of Ugboland, Oba Fredrick Akinruntan

An enthused Fasua, an indigene of Ondo State, in the missive to Governor Aiyedatiwa, wrote: “I am writing to offer warmest congratulations to you and the good people of Ondo State on the discovery of oil in our great state.

“This momentous occasion marks a significant milestone in our state’s history and great promise for our economic development and growth.

“The discovery of oil and gas is a testament to the rich natural resources that abound in our state, and we are confident that this newfound wealth will drive development, create jobs, and improve the lives of our citizens.”

He added, stating, “I am elated that this is happening in your own time and also happy to be part of your success story.

“As a representative of Ondo State on the Board of Odu’a investment Company Limited, I have been saddled with the responsibility of leading a courtesy visit to His Imperial Majesty, the Olugbo of Ugbo Kingdom, Oba (Dr) Frederick Entlonunda Akinutan, to show respect and seek royal blessings and the cooperation of Ugbo Kingdom, towards the impactful development of the Bita Oil and Gas Field on Saturday, 26 April, 2025.

“Under the current leadership of the Group Chairman, Otunba Bimbo Ashiru and the Group Managing Director/CEO, Abdulrahman Yinusa, I am assuring you sir, that the present leaders are more than ready to take the Conglomerate to a prosperous unimaginable good end.”

Meanwhile, the Odua team led by Fasua and the management of Bita Exploration and Production Limited, at the weekend paid a courtesy call on the Olugbo of Ugbo Kingdom, Oba Frederick Obateru Akinruntan, where it intimated the royal father, who was joined by other traditional rulers in the neighbourhood, with its intention to drill oil in the communities.

Oba Akinruntan while, commending the companies for their impact in the society, however, pledged his support.

“I must commend you all for this visit, as I know it will bring forth growth in this community and I am assuring you that I will support you as far as developmental projects are concerned

Earlier, the Management of Bita E & P, led by Mr. Adebayo Ajibade, an engineer, noted that the visit was to implement Federal Government’s directives.

“We have come in peace and with good news from the Board and Directors of Bita Exploration and Production Limited to notify you of our intended startup of activities on the Bita Marginal Field asset (PPL 249) as awarded by the Federal Government of Nigeria through the Ministry of Petroleum Resources.

“As stipulated by the licence award and in accordance with the guiding law, the two awardees have incorporated a Special Purpose Vehicle (SPV) named after the field and called Bita Exploration and Production Limited, to operate the asset.

“Available information from documented test results are currently being evaluated by our specialists to gauge both qualitatively and quantitatively, the reserves available within the asset, and to decide the best exploitation approach.

“Therefore, in no distant future, we hope to commence some physical activities on the field as they are currently being planned.

“In this regard, we wish to assure His Highness that Bita Exploration and Production Limited will do all that is required of us as a responsible company, guided by the PIA as regulated by the NUPRC.

Also speaking on the occasion, Fasua noted that both companies were very passionate and alive to such corporate social responsibilities.

“Odu’a Investment Limited, a key stakeholder, is very passionate and alive to such corporate social responsibilities, more especially as this is happening in Ondo State, one of the six Western States that own Odu’a.

“The assurance, therefore, is that we will do all that is required according to the law and as regulated by NUPRC for the betterment of our eventual host communities.

Also, all necessary host communities’ activities like impacted littoral communities mapping and delineation as needed for Host Communities Trust Set-up, as stipulated by NUPRC, shall be carried out transparently and in accordance with the PIA under the guidance of the Regulator (NUPRC).”

Fasua assured that Odu’a Community Relation team would be visiting respective communities under the supervision of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), in due course.

Only last week, Governor Aiyedatiwa had ìn far-away London, United Kingdom, echoed his strident calls on investors to explore the potential in Ondo State.

At the 2025 Global Sustainability Summit, held at the prestigious House of Lords, Palace of Westminster in London, Aiyedatiwa delivered a compelling presentation that captivated a room full of global investors, diplomats, and sustainability advocates.

His articulate showcase of Ondo State’s opportunities for sustainable investment, innovation, and green development left many investors convinced and inspired to explore partnerships within the state and beyond, it was gathered.

Governor Aiyedatiwa spoke passionately about Ondo State’s immense potential, positioning it as a prime destination for climate-smart and future-focused investments.

He highlighted the state’s rich natural endowments—particularly its vast reserves of critical minerals like lithium, cobalt, and uranium, which are essential components in the production of electric vehicle batteries and other clean energy technologies.

The governor also emphasised that the state holds active licences for mining these minerals, making it a gateway for investors interested in driving sustainability in mobility and energy storage.

In addition, he showcased the strategic development of a deep sea port, noting that Ondo boasts the deepest natural water body along the West African coast—capable of receiving the heaviest sea vessels.

This, he explained, would open up unprecedented maritime and logistic investment opportunities, making Ondo State a logistics and export hub for West Africa and a magnet for global trade and sustainable economic growth.

The summit was convened by Ambassador Canon Otto, Founder of CleanCyclers and Convener of the Global Sustainability Summit, who passionately called for more peaceful partnerships and strategic collaborations to advance a sustainable future for all.

In his address, Otto declared, “This isn’t just a passion. It’s my heartbeat. It’s my soul crying out for a world where no one suffers from the carelessness of others… where food nourishes, not harms… where water heals, not kills… where progress doesn’t come at the cost of people or the planet.

“That’s why we created the Sustainability Summit — to fight for a future where peace is possible, where life is sacred, and where we don’t just survive, but thrive, together.

“This is bigger than me. This is everything.”