Eba Oil Drilling and Olokola Deep Seaport: Catalysts for Ogun’s Economic Transformation – Dapo Abiodun

Ogun State is set for a major economic leap following President Bola Ahmed Tinubu’s approval for the commencement of commercial oil exploration at Eba in Ogun Waterside Local Government Area, alongside renewed federal commitment to the long-awaited Olokola Deep Seaport project.

Governor Dapo Abiodun disclosed the development at the weekend while receiving the Flag Officer Commanding, Western Naval Command of the Nigerian Navy, Rear Admiral Abubakar Abdullahi Mustapha, during a courtesy visit to his office in Oke-Mosan, Abeokuta.

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Governor Abiodun described the presidential approval as a historic breakthrough, ending years of anticipation surrounding oil exploration in Ogun’s coastal axis.

“Mr President has approved the commencement of commercial oil drilling operations at Eba, Ogun Waterside,” Abiodun said. “Going forward, we will begin to see increased activities in that area.”

The governor noted that the development would position Ogun among Nigeria’s oil-producing states, making it eligible for the 13 per cent derivation fund. He added that the project is expected to create jobs, stimulate economic activity in coastal communities, and provide resources for infrastructure and social development. There is also confirmed potential for bitumen extraction in the area.

Abiodun also revealed that the Olokola Deep Seaport project—conceived several years ago but stalled—has received renewed attention from the Federal Government.

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“Our proposed Olokola Port, which has been on the drawing board for many years, is now back on the table,” he said. “In the last two weeks alone, we have held several meetings, and Mr President has clearly expressed his desire to see the port become a reality.”

The Olokola Deep Seaport, to be developed as the Blue Marine Economic Zone, is expected to commence operations next year. The deep-water port is designed to decongest Lagos ports, enhance logistics efficiency, and position Ogun State as a strategic maritime and trade hub in West Africa.

Governor Abiodun said the projects would also strengthen national security, citing the earlier approval of a Nigerian Navy Forward Operations Base at Tongeji Island. The base will oversee the coastline stretching to Edo State.

According to him, the Ogun State Government provided land for the naval facility to enhance coastal surveillance, prevent cross-border infiltration, and protect critical maritime assets.

The governor explained that the Olokola Deep Seaport would accommodate large vessels and eliminate demurrage costs due to its Free Trade Zone status. It is expected to serve as a major transit point for cargo destined for the hinterland, as well as eastern and northern Nigeria.

He added that the project would generate significant revenue for the state through trade, logistics services, leases, and royalties, while creating thousands of direct and indirect jobs.

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Abiodun also highlighted ongoing infrastructure investments, including the Gateway International Airport and Aerotropolis at Iperu-Ilishan. The airport features a 4-kilometre runway capable of handling wide-body aircraft and is expected to support cargo processing, agricultural exports, and logistics operations.

He said Ogun’s integrated development strategy—covering industrial parks, agro-processing zones, transport infrastructure, and maritime projects—aligns with the administration’s ISEYA agenda, aimed at driving sustainable economic growth and positioning the state as one of Nigeria’s leading investment destinations.

The governor reaffirmed the state government’s commitment to working closely with the Federal Government, security agencies, and private investors to ensure the timely and successful execution of both projects.