ONE of the qualities of a good leader is the astuteness to project into the future and bring about legacies that will outlive him or her. This is why the people of Ondo State are commending the present administration under the leadership of Governor Lucky Aiyedatiwa for the renewed drive to reactivate the Olokola Free Trade Zone (OKFTZ). A feat that could not be achieved by previous administrations; which further lends credence to Governor Aiyedatiwa’s promise to transform the state into a hub of economic activity.
THE Olokola Free Trade Zone is a vision that remained dormant for nearly two decades. Ondo State has long looked to its coastline as a source of thousands of jobs, major investments and accelerated industrialisation, but policy gaps, coordination challenges and implementation delays hindered its realisation. The OKFTZ is a 20,000-hectare industrial hub located along the Atlantic coastline shared by Ondo and Ogun States in Nigeria. Conceived to boost the regional and national economies, it is now witnessing major revitalisation efforts aimed at establishing it as a primary driver of industrialisation in West Africa.
SPEAKING recently during the inauguration of the Technical Committee to oversee the laudable project at the Governor’s Office in Akure, Governor Aiyedatiwa described the event as a historic step towards the reactivation and optimisation of the Olokola corridor, saying his administration is determined to transform the project from a long-standing concept into a thriving economic reality.
THE governor recalled that the Olokola Free Trade Zone was conceived in 2005 as a joint initiative of the Ondo and Ogun State governments. Situated along the coastlines of both states with direct access to the Atlantic Ocean, the zone, according to the governor was designed as a strategic economic gateway for the South-West and Nigeria. He assured investors and development partners of the state’s readiness to support investment initiatives, disclosing that during a recent visit to the state, the President of the Dangote Group, Alhaji Aliko Dangote, expressed the company’s resolve to return to Olokola and develop the largest industrial and free trade hub in Nigeria there.
THE proposed industrial and free trade zone has the capacity to become a major economic engine for Ondo State, opening doors for manufacturing, logistics, construction, energy, trade, agriculture, transportation and hospitality. It will create direct and indirect jobs, expand opportunities for young people and improve the state’s revenue prospects.
WHEN the Dangote Group initially identified Olokola as a preferred destination for major industrial investments, the decision was not accidental. On the contrary, it was based on sound economic and geographical fundamentals that remain relevant today.
Interestingly, Olokola occupies one of the most strategic coastal locations in Nigeria. Geographically, it is situated along the Atlantic coastline and provides direct access to international shipping routes, making it ideal for import and export activities. For large-scale industries that depend on the efficient movement of raw materials and finished products, proximity to the sea is a major competitive advantage
THE benefits of this project to both states, Ondo and Ogun cannot be overstated. For large-scale industries that depend on moving raw materials and finished products efficiently, proximity to the sea remains a significant competitive advantage.
EQUALLY important is the area’s vast land availability. Since industrial projects require significant space for factories, warehouses, logistics facilities, supporting infrastructure and future expansion, Olokola offers the scale needed to accommodate large industrial clusters that can operate efficiently and expand over time.
FURTHERMORE, the zone enjoys proximity to some of Nigeria’s most important economic markets. Its location provides access to the commercial activities of the South-West while serving as a gateway to other regions of the country and the broader West African market. This strategic positioning enhances its attractiveness to manufacturers, exporters and investors.
THE HOPE, while commending Governor Aiyedatiwa for achieving this significant milestone, describes the Olokola Free Trade Zone as the kind of development that can transform the fortunes of communities. When major industries take root, the benefits extend far beyond factory gates. Markets become more vibrant, transport operators find new business, farmers gain better value chains and families experience the dignity that comes with productive employment and stable incomes.
HOWEVER, realising this vision requires adequate preparation and support. THE HOPE urges young people to prepare themselves to take advantage of the opportunities that will emerge. Technical education, vocational training, entrepreneurship development, workforce readiness programmes and industry focused skills acquisition must become priorities. The industries that establish operations within Olokola will require a workforce equipped with practical skills, technical competence, innovative capacity, discipline and the ability to operate in a modern industrial environment.
THE HOPE appreciates the steps taken so far by the current administration to make the Olokola Free Trade Zone a reality. We also appeal to the state government to provide adequate security for workers and urge the host communities to give the project their maximum support to ensure its successful implementation.
MOST importantly, the state government must continue to improve the ease of doing business. Investors seek policy consistency, transparent regulations, efficient approval processes, quality infrastructure, adequate security and an environment that supports long-term investment decisions. These reforms will determine, to a considerable extent, how effectively Nigeria competes for global capital and industrial investment.
UNDENIABLY, the establishment of Olokola Free Trade Zone in Ondo State is an essential pillar of economic transformation. No state can achieve sustainable economic growth without the right infrastructure, the right partnerships and the right leadership. Governor Aiyedatiwa has demonstrated commendable commitment to positioning the Sunshine State for sustainable growth and economic prosperity.