By Sunday Ameh
Former Chairman of Ilaje Local Government Area, Hon. Banji Okunomo, has described the planned reactivation of the Olokola Free Trade Zone (OKFTZ) by the Dangote Group as a defining economic milestone and one of the most enduring legacies of the administration of Ondo State Governor, Lucky Aiyedatiwa.
In a statement issued on Tuesday, Okunomo said the renewed commitment by Africa’s richest businessman, Aliko Dangote, to return to the Olokola axis marks a historic turning point in the economic development of Ondo State, particularly for the people of Ilaje Local Government Area.
According to him, the development restores a long-held vision for the Olokola Free Trade Zone, which was originally conceived as a major industrial hub expected to host large-scale investments, including the proposed Dangote Refinery.
He noted that the eventual relocation of the refinery project outside Ondo State years ago represented a significant economic setback for the state and its people.
“Today, that narrative is changing,” Okunomo stated, attributing the renewed interest of the Dangote Group to the investment-friendly policies and strategic leadership of Governor Aiyedatiwa.
He said the decision by the industrial conglomerate to resume activities at the Free Trade Zone demonstrates growing investor confidence in the economic potential of Ondo State.
Okunomo referenced comments made by Aliko Dangote during a recent visit to the state, where the businessman disclosed that activities at the Olokola Free Trade Zone would commence in the last quarter of 2026, with contractors expected to move to the site soon.
He described the development as one that would unlock massive economic opportunities through industrialisation, job creation, foreign direct investment, infrastructure development, maritime activities, technology transfer, increased government revenue and accelerated economic growth.
“As a former Chairman of Ilaje Local Government Area, I receive this development with profound joy and immense satisfaction. Bringing the Dangote Group back to the Olokola axis is no ordinary feat. It is a strategic economic breakthrough that deserves the commendation of every well-meaning indigene of Ondo State,” he said.
Okunomo further stated that the reactivation of the Free Trade Zone would stimulate commerce, create employment opportunities for youths, encourage indigenous entrepreneurship and attract ancillary industries capable of transforming the economic fortunes of the region.
He described the project as the most significant economic development initiative for Ilaje since the creation of the local government, stressing that its impact would extend beyond the present generation.
“The reactivation of the Olokola Free Trade Zone is the single most significant economic development initiative for Ilaje since the creation of the Local Government. Its impact will extend far beyond this generation, transforming the fortunes of our people and securing sustainable prosperity for generations to come,” he said.
The former council chairman called on traditional rulers, community leaders, youths and other stakeholders across Ilaje and Ondo State to support the project, describing it as a non-partisan initiative focused on the future of the state and its people.
He added that with collective support, the Olokola Free Trade Zone would become a catalyst for industrialisation and a lasting testament to Governor Aiyedatiwa’s leadership.
Okunomo maintained that the successful reactivation of the project would be remembered as one of the defining and enduring achievements of the current administration in Ondo State.
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