$10bn Investment Puts Ogun, NNPC Partnership and Long-Delayed OGLNG Project at Centre of Emerging Coastal Economy
By Kayode Akinmade For more than three decades, the Olokola Liquefied Natural Gas project remained largely a promise on paper. Now, renewed discussions between the Ogun State Government and the Nigerian National Petroleum Company Limited (NNPC) are placing the stalled project at the centre of a broader plan to transform the state’s coastline into an energy, maritime and industrial hub. The talks on the development of the OGLNG project in Ogun Waterside come barely a week after the state government signed Memoranda of Understanding with global ports and logistics operator DP World for the development of the Gateway Deep Sea Port and the 10,000-hectare Ogun State Blue Marine Special Economic Zone. Together, the projects are expected to attract an initial investment of $10 billion and create more than 50,000 direct jobs. The proposed port will have a four-kilometre berth and an 18-metre draft, while the adjoining economic zone is planned to accommodate manufacturing, processing, logistics...