Sofela Commends Governor Abiodun Over Signing Of MOU With Foreign Investor On Development Of Olokola FTZ.

Solanke Ayomideji Taiwo


The frontline aspirant for Ogun Central Senatorial District under All Progressives Congress, APC, Hon Emmanuel Adebola Sofela Shoffi commended Governor Prince Dapo Abiodun over the signing of Memorandum of Understanding with foreign investors to develop Olokola Free Trade Zone.



Governor Abiodun signed the $400m Memorandum of Understanding with the foreign firm, Arise Integrated Industrial Platform, on the development of Olokola Free Trade Zone and Remo Agro Processing Zone.

The state governor, Dapo Abiodun, and the Founder/Chief Executive Officer, Arise Integrated Industrial Platform, Gagan Gupta, signed the MoU on Friday, at the Exco Chambers of the Governor’s Office, Abeokuta.

Speaking shortly after the signing ceremony, Gupta disclosed that his organisation would focus on the development of Olokola Free Trade Zone and the Remo Agro Processing Zone.

He explained that the $400m investment would be for the completion of phase one of the projects, saying by July 2023, the investment would be scaled up subsequently for other phases of the project.

According to him, Gupta organisation will focus on developing the infrastructure at the Olokola Free Trade Zone as well as the Remo Cluster Area and the Agro Cargo Airport in order to enhance value linkages in the agro-processing area.

Gupta who also noted that the intention of the group was to ensure that work starts on the industrial zone by the first week of July this year, added that the group would also focus more on the upstream sector.

The Arise Integrated founder added that his company would bring substantial equity but would encourage local investors participation saying “we would be glad to have Ogun State as a partner.”

Sofela further enjoined the good people of Ogun State to vote Governor Prince Dapo Abiodun to complete his eight years of transformation come 2023. He also asked the people of Abeokuta South, Abeokuta North, Ewekoro, Ifo, Obafemi-Owode and Odeda to vote him to represent them at the senate for quality and effective representation by sponsoring people oriented laws and bringing employment and empowerment programmes to their doorsteps.