The Chairman and Chief Executive Officer of the Ondo State Oil Producing Areas Development Commission (OSOPADEC), Prince Olabiyi Poroye, has emphasized the need for enhanced collaboration among oil-producing states to tackle shared environmental issues and attract more investments to their coastal regions.
Speaking at the 31st United Nations Climate Change Conference (COP31) taking place in Antalya, Türkiye, Poroye highlighted the investment potential in Ondo’s coastal areas and urged neighboring states to view their environmental challenges from a regional perspective.
Poroye lauded the investability of Ondo’s coastal environment, which is strategically located near Lagos State, citing opportunities in land reclamation and tank farms. He articulated that proactive planning could enable prospective investors to enter agreements with local communities to secure larger reclaimed land areas that could be utilized for future investments.
He remarked, “For a prospective investor that can’t speak to the future, look at there. What can we do for a man that wants to build a tank farm? The man that wants to go and play in our core investment?”
The CEO cautioned that neglecting the coastal environment could exacerbate existing challenges and increase the financial burden on communities. He reported that various water infrastructure projects undertaken by OSOPADEC had been impacted by environmental degradation, complicating efforts to provide essential resources like water.
Moreover, Poroye warned that environmental decline could lead to heightened unemployment and unrest, as livelihoods are threatened. He expressed the need for collaborative measures to preempt such socio-economic issues, noting that damaged environments directly impact community stability.
Despite limited resources, Poroye stated that OSOPADEC has initiated interventions designed to mitigate these challenges, asserting that adequate funding could lead to significant improvements. He mentioned plans for substantial reclaiming efforts and renewable energy projects that demonstrate the commission’s commitment to development.
Reiterating the importance of a collective approach, he highlighted past collaborations among states such as Ondo, Delta, and Bayelsa, suggesting that they could further unite to form a framework for tackling environmental challenges comprehensively.
Poroye underscored the historical leadership of Ondo State in establishing oil-producing areas development commissions, serving as a model for others. He expressed a willingness to engage with neighboring states to encourage a joint effort in addressing their shared environmental issues.
