Ondo Deep Sea Port Project Hits Major Milestone as Federal Team Begins Due Diligence

Governor Aiyedatiwa’s Deep Sea Port Vision Records Major Milestone in Project Implementation as ONDIPA Receives Federal Due Diligence Team for Port Ondo Project Inspection.

The actualization of the Port of Ondo Multi-Purpose Deep Sea Port project has achieved a critical milestone as the Ondo State Development and Investment Promotion Agency (ONDIPA) officially received a joint high-powered Due Diligence team from the Federal Ministry of Marine and Blue Economy and the Nigerian Ports Authority (NPA) on Monday June 8th, 2026.

This was a follow up to the revalidation of the Port Ondo license issued by Federal Executive Council (FEC) in November 2025.

The visit, which represents a crucial regulatory phase toward final construction approvals, underscores the strategic alignment between the Federal Government and the administration of His Excellency Dr. Lucky Orimisan Aiyedatiwa, whose OUR EASE agenda has placed premium infrastructure development, investment attraction, and economic diversification at the heart of governance in Ondo State.

The Port of Ondo Muti purpose Deep Sea Port project is a flagship expression of Governor Aiyedatiwa’s OUR EASE agenda — a transformative governance blueprint designed to Open opportunities, unlock resources, Reinvigorate the economy, expand infrastructure, stimulate investment, and empower the people of Ondo State.

The Governor has demonstrated unwavering political will in driving the project forward, championing it as a generational infrastructure asset that will reposition Ondo State as a critical maritime and trade hub in West Africa.
Under his purposeful leadership, his administration has secured a formidable global investor consortium and engaged actively with Federal Government institutions — all in pursuit of delivering a project that reflects his vision of a prosperous and economically self-reliant Ondo State.

The receipt of the Federal Due Diligence team is a direct product of that political resolve and Governor Aiyedatiwa’s determination to ensure that the Port of Ondo multipurpose Deep-Sea Port does not remain a blueprint but becomes a built reality.
The state visit of delegates from NPA and the Federal Ministry Marine and Blue Economy commenced with an intensive technical session at the ONDIPA Investment House.

In attendance was the management staff of ONDIPA, led by the Chief Executive Officer, Barr. Emmanuel Omomowo, alongside the Special Adviser to the Governor on Marine and Blue Economy.

During the technical presentations, ONDIPA showcased the robust commercial and operational frameworks developed by seasoned international consultants from the Netherlands. Key financial data presented highlighted an Internal Rate of Return (IRR) of 12.1% and a Net Present Value (NPV) of $295 million — metrics that have heavily stimulated global investor appetite.

The due diligence exercise is structured to comprehensively evaluate the project across nine critical areas: Demand Forecast, Revenue Projection, Cost Estimate, Construction Feasibility, Engineering Design Review, Relevant Permit Status, Environmental Liabilities, Utility Relocation Issues, and Market Validation.

The Federal delegation expressed strong satisfaction with the level of preparation of the Ondo State Government, noting that the Minister of Marine and Blue Economy is committed to throwing full federal weight behind active, viable priority projects to ensure they do not become “white elephant” projects. Both parties agreed that following this exercise, the Project Delivery Team (PDT) will move swiftly to conclude the final Concession Agreement.

Following the technical sessions, the federal delegation embarked on a comprehensive site inspection at the designated Port Ondo multipurpose Deep Sea Port project location in Erunna Ogboti, Ilaje Local Government Area of Ondo State.

The field tour was led by Engr. Femi Akarakiri, Director of Business Development at ONDIPA.
The field assessment validated the unique geographical advantages of the Port of Ondo Deep Sea Port, as highlighted below:
KEY SITE ADVANTAGES
• Greenfield environment minimizing community displacement and EIA risks
• 16-to-20-meter natural draft within just 2 kilometers offshore
• Eliminates the need for capital and continuous operational dredging
• Conceptualized as Africa’s first automated island port
The physical layout will feature a port facility positioned two kilometers out into the Atlantic Ocean, connected to the mainland via a 2-kilometre access bridge.

This design creates a secure, highly controlled environment that optimizes naval surveillance and cargo routing. Directly adjacent to the bridgehead on the mainland sits the Sunshine Free Trade Zone, offering seamless industrial integration.

The Port of Ondo is designed as a $1.4 billion project to be executed across two distinct phases. Phase 1 will focus on a multi-purpose berth, Roll-on/Roll-off (Ro-Ro) facilities, and specialized bulk cement handling to catalyze immediate export operations. Phase 2 will accommodate future container terminal expansions.

Positioned to ease the severe trade bottlenecks and oversupply choking the Lagos ports, the Port of Ondo will leverage its geographic location to serve as a direct maritime gateway for agricultural products, solid minerals, bitumen, and bulk exports from Nigeria’s northern and eastern hinterlands.

A partnership agreement has already been executed with a world-class consortium led by MITARK Holdings Hong Kong, alongside their technical and financial partners China State Construction and Shandong Port Yantai. With the partner consortium already handling shipping lines moving dozens of containers to Nigeria daily, the Port of Ondo has guaranteed vessel traffic even before commercial operations commence.

The completion of this due diligence exercise paves the way for the deployment of a joint independent engineer to finalize design optimization, ahead of the scheduled commercial launch targeted for Q2 2028.

In closing remarks at the conclusion of the visit, the Chief Executive Officer of ONDIPA, Barr. Emmanuel Omomowo warmly conveyed the heartfelt goodwill and personal appreciation of His Excellency, Dr. Lucky Orimisan Aiyedatiwa, to every member of the Federal Due Diligence team. The CEO of ONDIPA expressed profound gratitude on behalf of the Governor and the entire government and people of Ondo State for the team’s commitment, professionalism, and willingness to undertake the journey to Ondo State. He noted that their presence is not merely a regulatory exercise but a powerful statement of partnership and shared national purpose — and that Mr. Governor looks forward to a continued and productive relationship with the Federal Ministry of Marine and Blue Economy and the Nigerian Ports Authority as the Port of Ondo project advances toward its historic launch.

Signed.
Louis Okoh
Communications/Press Officer,
ONDIPA