According to Ekiti Governor Biodun Oyebanji, the Ondo Sea Port is anticipated to make a substantial contribution to the growth of the state’s economy and the economies of its neighboring states.
Oyebanji made this statement at the ongoing Nigeria Diaspora Investment Summit while being represented by Mr. Oyeniyi Adebayo, Special Assistant (SA) to the Governor on Budget and Planning (NDIS).
The News Agency of Nigeria (NAN) reports that the event is organised by the Nigerians in the Diaspora Commision (NiDCOM) in partnership with Nigerian Diaspora Summit Initiative (NDSI).
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The subject of the fifth NDIS, which is being held at the Presidential Villa Conference Center in Abuja, is “Optimizing Investment Opportunities for National Development.”
The expansion and development of the local economy and nearby towns are positively correlated with the development of seaports, according to Oyenbaji’s research.
“The marine industry plays a key role in both Nigeria’s imports and exports. Ports serve as the hub of the blue economy, which also includes the export and import of products and people.
“Among other things, tourism and leisure, fishing, aquaculture, and more contemporary innovations like offshore renewable energy.
Therefore, it is anticipated that Ondo Port will play a crucial role in the growth of the economies of Ondo State and its neighbors, including Ekiti.
“As most of us (if not all of us) are aware, the area that is now known as Ekiti was formerly a part of Nigeria’s Western Region’s Ondo Province.
Later, in October 1976, Ondo Province will become Ondo State. The contemporary Ekiti was created out of Ondo state exactly 20 years later, on October 1, 1996, he stated.
He continued by saying that both states had a shared past and were closer in terms of economy and culture than any of Nigeria’s 34 other states.
“Therefore, Ekiti will greatly profit from the development of a sea port in Ondo state. When one takes into account the fact that Ekiti is a landlocked state, the significance of the proposed port becomes even more apparent.
“The development of the Ondo seaport is anticipated to yield several investment opportunities and economic benefits.”
He said that the port will strengthen our capacity to actively engage in the African Continental Free Trade Area and give Ekiti’s industrial outputs and agricultural products improved access to the global market (AFCFTA).
“Thereby producing foreign currency. The port will also enhance the economics of production and distribution for businesses in Ondo state and Ekiti, as well as the general welfare of our two states’ citizens, he added.
The summit, which began on November 15, will end on November 17, according to NAN. (NAN)
