Ogun State government and Nigerian National Petroleum Company Limited, NNPC, have opened discussions towards reviving long-delayed Olokola Liquefied Natural Gas, OKLNG, project along coastline in Ogun Waterside.
Development comes shortly after signing of agreements with DP World for development of Gateway Deep Sea Port and 10,000-hectare Ogun State Blue Marine Special Economic Zone, with initial investment exceeding $7 billion and potential to create more than 50,000 direct jobs.
Proposed revival of OKLNG will add major energy component to emerging economic corridor. NNPC has indicated approximately 1,728 hectares of land and 2.5 kilometres of Atlantic frontage will be required for LNG plants, utilities, storage facilities and associated marine infrastructure.
Ogun State government assured NNPC of full cooperation, including necessary support on land, incentives and guarantees required to bring project back to life.
Vision is to create integrated coastal economic ecosystem where Gateway Deep Sea Port provides maritime access, Blue Marine Special Economic Zone drives manufacturing and logistics, and LNG project supplies energy required by industries within Ogun State and across South-West.
With investments taking shape alongside other strategic infrastructure, Ogun Waterside is steadily emerging as major hub for energy, maritime commerce, manufacturing, logistics and international trade.
