The Federal Government is to establish a bitumen and asphalt processing plant in Ondo state by the first quarter of next year.

The Minister of Mines and Steel Development, Dr Kayode Fayemi  made the disclosure at the official launch of the Ondo State Development and Investment Promotion Agency (ONDIPA) held at the Dome in Akure.

Fayemi while commending the zeal and passion of Governor Oluwarotimi Akeredolu to make Ondo an investor friendly state expressed hope that his desire will very soon  come to reality.

He promised to galvanise support for all programmes and policies of the Akeredolu led government at the Federal Executive Council which he noted would complement the Buhari led government’s efforts at repositioning the economy. 

Governor Akeredolu while inaugurating the ONDIPA board expressed confidence that the agency with the mandate of selling ondo state to the world will do its best to make investors connect, invest and transform the state. 

He said his administration is determined to tap into the abundant resources in the state to generate more income and by extension boost the economy of the nation.

Akeredolu noted that with the state’s oil and gas, as well as energy resources, it can conveniently supply power to the entire south west states for one hundred years if fully harnessed. 

He commended the Buhari led government for showing interest towards ensuring that these resources are tapped adding that with the establishment of the deep seaport, the state will become a hub for investors not only in Nigeria but in west Africa.

The Special Adviser to the Governor on Investment and Development, Boye Oyewunmi said the state is now open fully for investors to come and thrive. 

The new agency has as its Chairman, Governor  Oluwarotimi Akeredolu, Boye Oyewunmi, Vice Chairman, as well as Commissioner for Commerce, Industry and Cooperatives Services, Timilehin Adelegbe,  Commissioner for Agriculture,  Gboyega Adefarati, Yinka Odumakinde, Segun Oluwagboyegun, Janet Adeyemi, and Cecilia Akintanmide as members

Source: http://orangefm.com.ng/ondo-to-get-bitumen-and-asphalt-processing-plant-fayemi/

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I've also read there processing plant would be ready December 2018. I'll shoot for somewhere in middle say Q3 2018. If all works out you get basic import substitution. You can build more roads with local material.

Ondo can power entire SW for 100 years? Ok why not start power plant then or invite private companies to do it? I doubt government will step in the way of your IPP too much. Man there's going to be a lot of deep seaports in this country. The states better be think of their export potential becsuse importing only goes so far. I count 6 so far.