By Isaac Afolabi
The Federal Government has approved the establishment of a deep sea port in Ondo State.
The Federal Executive Council presided over by President Muhammadu Buhari gave the approval for the operating license for the port at the FEC meeting held at the State House in Abuja.
The development of the Ondo Multipurpose Port in Ilaje Local Government Area of the state will be driven by investors through Public Private Partnership (PPP), with a 50-year concession period.
The Memo for the approval was presented by the Federal Ministry of Transportation through the Minister of Transportation, Mr Muazu Jaji Sambo, following years of efforts by the Ondo state Government to establish a deep sea port, first at Olokola which failed to materialise since 2004.
Governor Akeredolu had submitted the proposal for the establishment of the Port to the federal government, with series of due diligence undertaken by both the State and federal governments.
Speaking on the development, the Minister of State for Transportation, Prince Ademola Adegoroye, expressed excitement over the approval saying it was a dream come true for the people of Ondo State.
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