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Home Economy

Ogun joins league of oil producing states as Tinubu approves oil drilling at waterside. …Olokola Deep Seaport to take off

Admin by Admin
May 22, 2026
in Economy
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Ogun joins league of oil producing states as Tinubu approves oil drilling at waterside. …Olokola Deep Seaport to take off - Image 1
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Ogun joins league of oil producing states as Tinubu approves oil drilling at waterside. …Olokola Deep Seaport to take off - Image 1

       President Bola Ahmed Tinubu


Ogun State’s long held aspiration to be counted among the oil-producing states in the country has finally materialised following the approval by President Bola Ahmed Tinubu for the commencement of commercial oil drilling at Eba in the Ogun Waterside Local Government Area of the State.
Prince Dapo Abiodun, the Governor of the state made this known yesterday while receiving the Flag Officer Commanding, Western Naval Command, Rear Admiral Abubakar Mustapha, alongside senior officers of the command, when the latter and his team paid a courtesy visit to his office in Oke-Mosan, Abeokuta.
He also disclosed that President Tinubu had approved the immediate take-off of the Olokola Deep Seaport project located in Ogun Waterside Local Government Area, marking a major breakthrough after years of anticipation surrounding the multibillion-dollar port development.
Governor Abiodun said President Tinubu had special interest in both projects, noting that Olokola Deep Seaport would significantly decongest the Lagos ports, while commercial oil drilling at Eba, Waterside would promote inclusion and economic empowerment for residents of the coastal communities.
“Let me share with you that Mr. President has approved the commencement of commercial oil drilling operations and going forward, you will begin to see a lot of activities there,”
“Our proposed Olokola Port, which has been on the drawing board for several years, is now back on the table. I want to thank Mr. President for taking interest in the initiative. In the last two weeks, we have held several meetings on Olokola and Mr. President has clearly expressed his desire to see the port become a reality,” he said.
Governor Abiodun added that President Tinubu had directed that construction of the port should be fast tracked between now and next year, stressing that the project would present a strong opportunity to decongest the Lagos ports, particularly with the coastal road, which would provide an alternative logistics corridor.
He stated that the new seaport would be known as the Blue Marine Economic Zone, reflecting its strategic coastal location, vast economic and commercial potential, while commending the Nigerian Navy its proposed plan to establish a Forward Operations Base at Tongeji Island in Ipokia, noting that the naval presence would help prevent infiltration from neighbouring Benin Republic and discourage any attempts to undermine Nigeria’s territorial integrity.
 Governor Abiodun appreciated the Nigerian Navy for its contribution to the State’s security architecture, noting that collaboration among security agencies had helped sustain the relative peace currently enjoyed in Ogun State.
 He also disclosed that his administration is working to provide basic amenities for residents of the island to improve their standard of living and support emerging economic activities.
Earlier, Rear Admiral Mustapha described Ogun State as critical and strategic to Nigeria’s national security, disclosing that the Naval outpost at Tongeji Island would be upgraded to a Forward Operations Base due to the area’s significant oil potential.
He explained that the visit was aimed at strengthening synergy between the Nigerian Navy and the Ogun State Government, adding that part of his responsibility was to safeguard Nigeria’s border with the Republic of Benin and prevent criminal elements from gaining a foothold in the State.
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