The Ogun State Government is set to sign a fresh investment agreement with a United Arab Emirates-based company on the Olokola Deep Seaport project. The planned agreement, expected to be signed in Paris, France, has raised questions over its relationship with an existing Memorandum of Understanding (MoU) between the state and the Dangote Group on the project. Three years ago, the Dangote Group, the Ogun State Government and the Ondo State Government entered into an agreement to establish the Olokola Free Trade Zone Company (OFTZC) as a special purpose vehicle (SPV) to drive the development of the Olokola Free Trade Zone and related investments.
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