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ONDO — OLOKOLA INVESTMENT PLANS FACE LAND-OWNERSHIP QUESTIONS
The wider Olokola development has significant industrial implications. In June, Dangote Group reaffirmed plans for a large-scale industrial and free-trade-zone development at Olokola, envisaged around power, gas, cement, manufacturing and supporting infrastructure.
by Builtangle
9/27/20261 min read
The proposed Olokola Free Trade Zone in Ilaje Local Government Area is facing a fresh land-ownership issue. On September 26, the Sehin Royal Family of Ipare asked the Ondo State Government and prospective investors to deal directly with its representatives over land earmarked for the Free Trade Zone. The family said it had not been represented in earlier discussions and warned that unresolved land-acquisition issues could lead to litigation. It also stated that it does not oppose the Free Trade Zone or genuine investors, but wants land matters handled with the recognised custodians of the affected property.
The wider Olokola development has significant industrial implications. In June, Dangote Group reaffirmed plans for a large-scale industrial and free-trade-zone development at Olokola, envisaged around power, gas, cement, manufacturing and supporting infrastructure.
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MARKET WATCH:
For real-estate and construction players, this is a reminder that land due diligence is infrastructure due diligence. Large industrial projects can generate demand for logistics facilities, warehouses, housing, hospitality and commercial services. But unresolved ownership, acquisition and compensation questions can affect project timelines and investment risk. Investors looking toward emerging industrial corridors therefore need to verify title, acquisition status, community interests and development rights before committing capital.