Ondo State Governor Lucky Aiyedatiwa yesterday signed a Memorandum of Understanding(MoU) for a Deep Sea Port project in which the government will hold a 12.5 per cent stake, while the partnering companies will take 87.5 per cent equity. He also penned a $4 billion petrochemical fertiliser plant deal.

Speaking at the state Investment Summit 2026 in Akure, the governor used the occasion of his administration’s first anniversary to unveil what he described as a decisive economic shift from consumption to production.

According to him, the state will no longer rely predominantly on civil service structures but reposition itself as a private sectorled industrial powerhouse driven by structured policy, regulatory clarity, and political will. Aiyedatiwa said: “Investors do not go where there is potential alone.

They go where there is structure, certainty, and political will and Ondo State offers all three.” He stressed that the summit was not a ceremonial gathering but a commitment to measurable outcomes.

He assured participants that every engagement, investment discussion, and decision reached at the forum would be tracked, saying by the 2027 edition, the state would present implemented projects and demonstrable economic impact arising from commitments made this year.

The governor said the government had prioritised creating an enabling environment where investment thrives by simplifying processes, strengthening institutions, improving transparency, and accelerating approvals.