Ogun State is set for a major economic transformation following the approval for the commencement of commercial oil drilling at Eba in Ogun Waterside Local Government Area and renewed federal backing for the Olokola Deep Seaport project.
Governor Dapo Abiodun disclosed this at the weekend while receiving the Flag Officer Commanding, Western Naval Command of the Nigerian Navy, Rear Admiral Abubakar Abdullahi Mustapha, during a courtesy visit to his office at Oke Mosan, Abeokuta.
According to the governor, the approval granted by Tinubu marks a significant breakthrough after years of delays surrounding both projects. He described the development as a turning point that would redefine Ogun State’s economic outlook.
“Mr President has approved the commencement of commercial oil drilling operations at Eba, Ogun Waterside. Going forward, we will begin to see increased activities in that area,” Abiodun said.
He added that the long proposed Olokola Deep Seaport has now regained momentum, noting that discussions on the project have intensified in recent weeks. “Our proposed Olokola Port, which has been on the drawing board for several years, is now back on the table. In the last two weeks alone, we have held several meetings, and Mr President has clearly expressed his desire to see the port become a reality,” the governor stated.
The Olokola Deep Seaport, to be developed as the Blue Marine Economic Zone, is expected to become operational next year. The project is designed to decongest the Lagos ports, improve logistics efficiency, and position Ogun State as a key maritime and trade hub in West Africa.
Abiodun also said the project would strengthen national security, explaining that the Nigerian Navy’s Forward Operations Base at Tongeji Island, earlier approved by the Federal Government, would oversee the coastline up to Edo State. He noted that the state government provided land for the base to enhance coastal security and curb cross border infiltration.
On the oil drilling project, the governor said the commencement of operations at Eba would place Ogun among Nigeria’s oil producing states, making it eligible for the 13 per cent derivation fund. He added that the development would generate employment, stimulate economic activities in coastal communities, and provide additional resources for infrastructure and social development. He also disclosed that there is potential for bitumen extraction in the area.
Speaking on the economic benefits of the Olokola Deep Seaport, Abiodun explained that the deep water facility would accommodate large vessels and eliminate demurrage costs due to its Free Trade Zone status. He said the port would serve as a major transit hub for goods destined for the hinterland, as well as the eastern and northern parts of the country.
The governor noted that the seaport is projected to generate substantial revenue for the state through trade, logistics, leases, and royalties, while creating both direct and indirect employment opportunities.
Abiodun further highlighted the state’s ongoing investments in infrastructure, including the Gateway International Airport and Aerotropolis at Iperu Ilishan, which features a four kilometre runway capable of handling wide body aircraft. He said the airport would support cargo processing, agricultural exports, and logistics services.
He said the state’s integrated development strategy, which covers industrial parks, agro processing zones, and transport infrastructure, aligns with the administration’s ISEYA agenda aimed at driving sustainable economic growth and positioning Ogun State as a leading investment destination in Nigeria.
The governor reaffirmed the state government’s commitment to working with federal authorities and private investors to ensure the successful implementation of the projects.
