Ondo signs MoUs for deep seaport, fertilizer plant

Ondo signs MoUs for deep seaport, fertilizer plant

The Ondo State Government has signed Memoranda of Understanding (MoUs) with two investors for major projects: a deep seaport in Ilaje Local Government Area and a petrochemical fertilizer plant. The seaport project, initially approved during the Muhammadu Buhari administration, had its licence revalidated by the Federal Government last year. The MoUs were formalized at the 2026 Ondo State Investment Summit in Akure, which also marked the first anniversary of Governor Lucky Aiyedatiwa’s administration.

Governor Aiyedatiwa emphasized that Ondo State is now positioning itself as a private-sector-led industrial hub, driven by clear policies, regulatory certainty, and political will. He highlighted the state’s strategic advantages, including a 75-kilometre Atlantic coastline, abundant natural resources such as bitumen, cocoa, oil palm, rubber, timber, limestone, granite, and oil-producing communities. He presented Ondo as a land of opportunities, urging investors to leverage its infrastructure, resources, and strategic location linking at least seven neighbouring states.

In support of the state’s initiatives, Senate President Godswill Akpabio, represented by Senator Jimoh Ibrahim, praised the governor and urged strategic planning for sustained global competitiveness. Similarly, Abike Dabiri-Erewa, CEO of the Nigerians in Diaspora Commission, encouraged Nigerians abroad to view Ondo not only as their origin but as a hub for investment, emphasizing that government protocols are in place to facilitate both local and foreign investors.

The summit, according to Dr Summy Smart Francis, Special Adviser on Entrepreneurship and Innovation, aims to reposition Ondo State for greater prosperity by encouraging diaspora engagement, industrial growth, and strategic partnerships.

           Punch, 24 Feb 2026