The Ondo State Government has taken a major step toward reshaping its economic future with the signing of Memoranda of Understanding (MoUs) for the development of the Ondo Deep Seaport and a petrochemical fertilizer plant. The agreements, sealed at the 2026 Investment Summit in Akure, signal a renewed push to transform the coastal state into a key industrial and maritime hub. The seaport, located in Ilaje Local Government Area, had earlier received approval under the administration of former President Muhammadu Buhari, with its licence revalidated by the Federal Government last year.
Governor Lucky Aiyedatiwa described the summit as more than a ceremonial gathering, calling it a platform for “measurable outcomes” and strategic partnerships. Marking his first anniversary in office, Aiyedatiwa declared that Ondo was ready to transition from a civil service-dependent economy to a private sector-driven industrial powerhouse. According to him, investors are drawn not just by potential, but by structure, certainty, and political will—qualities he insisted the state now offers.
Highlighting Ondo’s competitive advantages, the governor pointed to its 75-kilometre Atlantic coastline, vast bitumen reserves, rich agricultural resources including cocoa and oil palm, and significant deposits of limestone, granite, and kaolin. He also referenced oil-producing communities in Ilaje and Ese-Odo, as well as the state’s strategic access to at least seven neighbouring states. “Ondo is not asking for opportunity; we are presenting opportunity,” he said, framing the seaport and fertilizer projects as catalysts for jobs, exports, and long-term prosperity.
Support for the projects also came from national and diaspora leaders. Senate President Godswill Akpabio, represented by Senator Jimoh Ibrahim, congratulated the governor and pledged legislative backing for the seaport initiative. Meanwhile, Nigerians in Diaspora Commission Chairman Abike Dabiri-Erewa, urged Nigerians abroad to see Ondo as a land of opportunity rather than just a place of origin. She described investing back home as both patriotic and economically strategic.
For many residents and members of the diaspora, the projects represent more than infrastructure—they symbolize hope for jobs, industrial expansion, and renewed investor confidence. Dr. Summy Smart Francis, Special Adviser on Entrepreneurship and Innovation, said the summit was designed to reposition the state for shared prosperity and called on Ondo indigenes abroad to return and invest. As discussions move from agreements to implementation, expectations are high that the Ondo Deep Seaport and fertilizer plant will mark the beginning of a new economic chapter for the state.
source: punch