Ondo Deep Seaport to Attract N500 Billion Investments

By February 26, 2020 Investment News

Succour is on the way for Ondo State as the government declares that the deep seaport project would attract over N500billion investments to the host communities in Ilaje Local Government Area, when completed. Ondo State Governor, Oluwarotimi Akeredolu, who disclosed this at a stakeholders’ forum, said the deep seaport would generate more than N500billion new investments, which will buoy the economies of the host communities.

Speaking on the Environmental Site Investment Assessment (ESIA), and Resettlement Action Plan (RAP) for the project, where he met with traditional rulers and representatives of the community in Akure, Akeredolu assured that the project remains at the top of his list of priorities for the state.

While soliciting the support of the host communities and traditional rulers towards the actualisation of the project, he said the State Government had spent hundreds of millions of naira on the required studies carried out by local and international consultants.He added that the government is working towards obtaining a port declaration from the Federal Government, saying: “The deep seaport and the Industrial City project will attract massive investment to the state in particular and Nigeria in general. The one singular project that will change this state totally is the port. Building of the port alone will bring about N500billion economic activities to that area.

“This is the most serious business and important project we want to embark on as a government. Every other thing becomes secondary. We have spent millions of naira on the required studies. We don’t have the money, but we will set aside as many projects as we can to get this port done so that the quality will meet the standard expected of us by the Federal Government,” he said.
Read more: Guardian