Akeredolu Signs MoU With Member Of Dubai Ruling Family To Develop Deep Sea Port In Ilaje

As part of his move to develop the proposed Deep Sea Port in the
Ilaje Local Government Area of Ondo State, Rotimi Akeredolu,
Governor of the state, has signed a Memorandum of Understanding
(MoU) with the Private Office of his Highness, Sheikh Dalmook Al
Maktoum, who is a member of the Dubai ruling family.

Akeredolu signed the MoU on behalf of the state government as he
seeks collaboration with the United Arab Emirates in developing
Ondo State and widening its investment horizon.

Akeredolu was invited on Thursday to meet with the Dubai
Secretary for Foreign Trade, Ministry of Economy UAE, Abdulla Ahmed
Al Saleh to discuss opportunities and potential to tap in
developing Ondo.

He and his team were also invited to meet with Sheikh Maktoum
and the Dubai Port Authority team on the Portondo and the bigger
economy of the state.

It was at the end of the successful meeting that Akeredolu
signed a deal for development of the proposed Deep Sea Port in the
coastal area of Ilaje Local Government Area of Ondo State, the
government having already completed a feasibility study.

The feasibility study prepared by the MTBS led by its Managing
Director, Netherlands, Chime Asonye, and the firm’s project leader,
Willem Slenderbroek, has been forwarded to the Nigeria Port
Authority (NPA)

The Governor had mentioned during a courtesy visit of the
Araromi Obu in Council that the NPA team would soon be in the state
for assessment, after which the port declaration will be done.

In accordance with the terms of this MoU, the parties have
expressed their intention to collaborate and work together on other
business opportunities including setting up new conventional,
renewable and hybrid power projects, including the potential to
re-power existing power plants.

Other objectives of the MoU include exploring the potential to
develop oil blocks and strategic storage terminals, developing
cashless solutions for internally generated revenues (IGR) on
direct assessment, and any other projects of mutual interest.