Home NewsOndo State News Akeredolu sets up committee to reactivate Olokola Free Trade Zone

Akeredolu sets up committee to reactivate Olokola Free Trade Zone

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The Ondo state governor, Arakunrin Oluwarotimi Akeredolu has set up a nine man technical committee to reactivate the abandoned Olokola Free Trade Zone.

The multi billion project was initiated by the late Olusegun Agagu’s administration but became murribond as it was abandoned shortly after his exit from office.

The committee is headed by Engr. Funso Kupolokun, a renowned Petroleum Engineer and one time Group Managing Director of the Nigerian National Petroleum Corporation (NNPC). Mr. Jones Abiodun will serve as secretary.

Other members of the committee are..Dr. Deji Oyedele,  Chief Akin Aruwajoye,  Engr. Funsho Esan,  Barrister Niyi Adegbonmire SAN,  Mr. Juwon Falope, Dr. Funmi Cooker and Mr. Oluwafemi Akarakiri.

Inaugurating the committee at the Cocoa Conference hall of the governor’s office, Governor Akeredolu said the committee is expected to actualize the Olokola free trade Zone project between Ondo and Ogun states.
The governor who was represented by his deputy, Hon Agboola Ajayi also charged the committee to tackle the current legal and technical issues confronting both the Owena Oil and Gas Limited and Owena Energy Limited.

Akeredolu said the concern of his administration remained the massive turn around in the economic and social landscape of the state noted that best hands have been selected both within and outside the state  for the committee.

The governor said massive economic turn around can only be achieved through a private sector driven economy that operates in a conducive environment provided by the government.

According to the governor, the terms of reference of the committee include reviewing all the work that has been done to date on planning and implementation of OK – FTZ .

He said the committee will also  determine the current status of all the activities and make recommendations.

According to the governor, the committee will also review and assess the corporate structures for the operation and management of the Olokola free trade Zone and the mechanism for interfacing between Ondo and Ogun states and with the Nigerian Export Processing zones Authority

Equally to be reviewed and assessed is the state of infrastructures in the zone, as regards road, waterways, electricity, water and communication”.

Responding on behalf of the committee,  the chairman of the committee,  Kupolokun said the committee will be committed and make more efforts to activate the abandoned project.

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