With Eba Oil Exploration and Olokola Deep Seaport, Abiodun Takes Ogun Devt a Notch Higher

By Kayode Akinmade

He is a man the opposition loves to deride, yet one who keeps his gaze firmly fixed on a singular goal: positioning Ogun State as Nigeria’s foremost investment destination. Long before now, Governor Prince Dapo Abiodun had made his intentions clear. But developments in recent days—particularly President Bola Ahmed Tinubu’s approval for the commencement of commercial oil drilling at Eba in Ogun Waterside Local Government Area—have elevated the conversation to an entirely new level.

Added to this is the renewed momentum behind the Olokola Deep Seaport, a long-anticipated project with vast economic implications. Together, these twin developments signal a decisive shift in Ogun State’s economic trajectory.

Before Prince Abiodun assumed office, Ogun State had neither an airport nor an airport city. Today, it has both—and much more. It is therefore no coincidence that Ogun reportedly attracted over 70 per cent of all foreign direct investment inflows into Nigeria in 2025. The Gateway State is clearly on the move—deliberately and confidently.

A Breakthrough Long in the Making

Speaking while receiving the Flag Officer Commanding, Western Naval Command of the Nigerian Navy, Rear Admiral Abubakar Abdullahi Mustapha, during a courtesy visit at the Governor’s Office in Oke-Mosan, Abeokuta, Prince Abiodun described President Tinubu’s approval for oil drilling and the Olokola port as a major breakthrough after years of anticipation.

According to the Governor:

“Let me share with you that Mr President has approved the commencement of commercial oil drilling operations at Eba, Ogun Waterside. Going forward, you will begin to see increased activities in that area. Our proposed Olokola Port, which has been on the drawing board for several years, is now back on the table. I want to sincerely thank Mr President because this renewed push is solely his initiative.”

The Governor revealed that intensive engagements have taken place in recent weeks to fast-track the Olokola project, with President Tinubu personally driving its realization.

Blue Marine Economic Zone: Ogun’s Coastal Powerhouse

The Olokola Deep Seaport—now to be known as the Blue Marine Economic Zone—is expected to become operational next year. Beyond decongesting Lagos ports, the project will serve as a strategic maritime and industrial hub, enhancing national security, trade efficiency, and regional competitiveness.

A Nigerian Navy Forward Operations Base at Tongeji Island, approved and facilitated by the Abiodun administration through the provision of land, will secure the coastline stretching to Edo State, prevent cross-border infiltration, and safeguard Nigeria’s territorial integrity.

Eba Oil: Inclusion, Revenue, and Opportunity

The commencement of commercial oil drilling at Eba is momentous for Ogun State. It means:• Oil production revenue and 13 per cent derivation funds,• Massive employment opportunities for local youths,• Economic inclusion and accelerated development for coastal communities,• Funding for infrastructure and social services,• Potential bitumen extraction that could significantly reduce Nigeria’s import dependence.

For Ogun, oil production is not just about revenue—it is about empowerment and long-term regional transformation.

Economic Impact of Olokola Deep Seaport

A deep seaport capable of handling vessels with drafts exceeding 14 metres, Olokola will accommodate large cargo ships, modern logistics operations, and massive trade volumes. As a Free Trade Zone, it eliminates excessive taxation and demurrage costs, making it a preferred destination for goods bound for Nigeria’s hinterland, East, and North.

The economic implications are staggering:• Over one million direct and indirect jobs,• Annual revenues estimated at over $9 billion,• A dramatic boost to Ogun’s Internally Generated Revenue (IGR), potentially placing it among Nigeria’s top three states by 2026,• Accelerated development of roads, rail lines, housing, and industrial clusters,• Positioning Ogun as a key logistics and trade hub in West Africa.

Beyond Oil and Ports: The Aerotropolis Vision

Beyond Eba and Olokola lies another transformative project—the Gateway International Airport and Aerotropolis at Iperu-Ilishan. With a 4-kilometre runway capable of handling Boeing 777s and Airbus A380s, the facility anchors an integrated ecosystem of cargo processing, logistics, industrial parks, residential estates, hotels, and commercial centres.

Linked to this is the Special Agro-Processing Zone (SAPZ), international-standard testing centres, and storage facilities designed to boost agricultural exports, reduce post-harvest losses, and decongest Lagos ports. The aerotropolis alone is projected to create over 25,000 jobs, while catalysing investments in manufacturing, real estate, hospitality, and logistics.

An Investment-Friendly State

From road and rail corridors to power transmission upgrades and renewable energy initiatives, the Abiodun administration continues to strengthen Ogun’s infrastructure backbone. Endorsements from global business leaders—including Alhaji Aliko Dangote, who has identified Ogun as Africa’s future cement-production hub—underscore the State’s business-friendly posture.

Agbara Industrial Estate, the Ogun Guangdong Free Trade Zone, dry ports, renewable energy initiatives, and robust public-private partnerships all reflect a coherent strategy: build infrastructure, unlock trade, attract capital, and grow prosperity.

Conclusion

This is not just a story of oil, ports, and airports. It is the story of vision, planning, and execution. As Governor Dapo Abiodun relentlessly pursues his ISEYA Agenda, Ogun State is steadily transforming into a model of economic resilience and opportunity.

The Gateway State is rising—and the best chapters of its development story are still unfolding.

*Akinmade is Special Adviser Information and Strategy to Ogun State Gov