The development of the Port of Ondo is set to establish one of Nigeria’s most advanced ports with a dedicated bulk cargo terminal.
The port is adjacent to the Sunshine Industrial City with a Free Trade Zone (FTZ) status. This initiative is part of our strategy to enhance industry and logistics infrastructure in the Ondo region and Nigeria as a whole.
Featuring a depth of 16.5 – 18m, this modern seaport will efficiently handle large commercial vessels, providing a crucial link to global trade. It’s a game-changing infrastructure that will facilitate both the export of goods and the import of materials and technology. With the capacity to manage vessels up to 14,000 TEUs, the Port of Ondo will serve as a valuable alternative to ports in Lome, Lagos, and Cotonou.
The Port is one of the major focal point of the Ondo State Government’s strategy for repositioning the state by diversifying its economy. The expectation is that the establishment of the port (together with an Industrial City with a Free Trade Zone status) will transform the state by boosting commercial and industrial activities, enhance the state’s competitiveness and create employment opportunities. The port will not only provide an effective maritime access to national and international markets, but also form one of the nodal points of the future multi-modal transport infrastructure and means of access to solid mineral resources. This is while facilitating the export of agricultural produce and manufactured products from the hinterland (the bulk of the port’s captive cargo) and also creation of a gateway for imports.
PORT ONDO KEY ADVANTAGES
- Gateway for the nearby free trade zone (Ondo Industrial City).
- Capability of handling the largest class of container vessels thereby saving costs for Ship-to-Ship activities.
- Less than 40km via the coast and inland waterways to Lagos, Nigeria’s biggest market
- Facilities on the State’s coastline are closest to three major oil fields in the country; ABO, BONGA and ERHA.
- Access to strategic road networks leading to important trade corridors for the movement of commodities to and from the ports.
- In addition to the Port of Ondo (deep sea), to aid investors, the proposed 37km coastal access road linking Ondo State and Lagos is to better connect the FTZs in Ondo with the FTZ in Lekki and the Lagos Port complexes.
Inland Waterways
The State’s inland waterways provide alternate forms of transportation to the road network predominantly used for haulage and passenger movement.
With its many creeks and major rivers, vessels can go westward to the Nigeria’s commercial nerve centre in Lagos, and eastward via the creeks to Forcados, connecting to the River Niger for northbound goods and passengers.
This provides a more cost-effective means of transporting raw materials and finished products around the country.
INVESTMENT OPPORTUNITIES IN ONDO STATE’S BLUE ECONOMY SECTOR
- Port Storage Facilities: General storage and cold rooms to freeze perishable goods.
- Vessels Maintenance Yard: To carry out mechanical repairs
- River Transport: with River Alape’s survey and charting complete, opportunity of investing in river transport services, including boats, docks, and logistics support for local businesses.
- Tourism Development: Leveraging River Alape’s potential, invest in tourism infrastructure such as hotels, restaurants, and recreation facilities. Create tour packages, including fishing trips and water sports, to boost tourism.
- Agriculture: Take advantage of the river’s irrigation capacity, invest in irrigation infrastructure, support farmers, or develop value-added agricultural products.
- Fishing: The Rivers in Ondo are a vital source of fish. Invest in fishing infrastructure like boats, trawlers, nets, and processing plants. Explore new domestic and international markets for fish products.
- Renewable Energy: The surveyed river can identify locations for hydroelectric power plants. Invest in constructing and operating these plants to provide clean energy and potentially sell excess power to the national grid.
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