Kayode Akinmade: $10bn investment puts Ogun, NNPC partnership, project at centre of coastal economy
For more than three decades, the Olokola Liquefied Natural Gas project remained largely a promise on paper. Now, renewed discussions between the Ogun State Government and the Nigerian National Petroleum Company Limited (NNPC) are placing the stalled project at the centre of a broader plan to transform the state’s coastline into an energy, maritime and […] Kayode Akinmade: $10bn investment puts…
The Olokola Liquefied Natural Gas (LNG) project, which has been on the drawing board for over three decades, is now at the forefront of a major plan to transform Ogun State's coastline into an energy, maritime, and industrial hub. This renewed focus comes shortly after the Ogun State Government signed Memoranda of Understanding (MoUs) with DP World for the development of the Gateway Deep Sea Port and the 10,000-hectare Ogun State Blue Marine Special Economic Zone.
These projects are expected to attract an initial investment of $10 billion and create more than 50,000 direct jobs. The proposed port will have a four-kilometre berth and an 18-metre draft, while the adjoining economic zone is planned to accommodate various industries. The renewed discussions on the OGLNG project add a critical energy dimension to this emerging coastal economic corridor, creating the prospect of an integrated platform where energy, maritime transport, manufacturing, logistics, and international trade reinforce one another.
Brief written by urgent.news from Daily Post Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
