The Ondo State Government has signed a Public-Private Partnership (PPP) agreement with PyVee Limited, a U.S-linked chemical manufacturing company, to develop West Africa's first and Africa's second fully integrated titanium value-chain processing plant. The agreement was signed on Saturday at the office of the Secretary to the State Government, Alagbaka Akure. This partnership positions Ondo State at the forefront of a new industrial and strategic minerals corridor linking Nigeria to the United States aerospace and defence supply chains.
The project, facilitated through the Ondo State Development and Investment Promotion Agency (ONDIPA), involves the allocation of 100.079 hectares of land at Alape, along the Igbokoda–Ugbonla Road in Ilaje Local Government Area. The site was strategically selected for its access to lagoon water, gas infrastructure for captive power generation, and proximity to the Deep-Sea Port and export logistics along the Lagos–Calabar Coastal Corridor.
Peter Oladipupo, Founder and CEO of PyVee Limited, stated that the State Government will provide an enabling environment for the project, including facilitating access to raw materials, supporting the acquisition of requisite licences, permits, and regulatory approvals. The project has an estimated total capital outlay of $362 million across two developmental phases. The first phase entails the construction of a commercial pilot plant, while the second phase will see the development of a full-scale titanium processing complex.
The project is projected to generate more than N300 billion in annual gross economic value for Ondo State and over N480 billion nationally. It is expected to create more than 150 direct jobs in Phase 1, over 800 direct jobs in Phase 2, and more than 5,000 additional indirect and induced jobs. The proposed facility will process Nigeria's abundant ilmenite ore locally, reducing dependence on imported titanium products.
The titanium-processing modular plant will be fabricated by a U.S. fabrication partner and shipped to Nigeria for installation and commissioning. The plant will produce titanium dioxide pigment and titanium sponge, providing a platform for the future production of additional strategic materials. PyVee Limited designs, develops, deploys, and operates modular chemical manufacturing plants for the production of critical materials and chemicals.
Emmanuel Omomowo, CEO of ONDIPA, highlighted the agency's role in structuring and de-risking the transaction for both parties. The deal is seen as a template for future PPP-driven industrial projects in the state, with Ondo State taking equity instead of cash for the land. This arrangement gives the State a stake in the Special Purpose Vehicle, aligning its fortunes with the project's success.
Taiwo Fasoranti, the Secretary to the Ondo State Government, framed the partnership as a direct expression of Governor Aiyedatiwa's industrialisation agenda. The administration aims to ensure the state's mineral wealth translates into local jobs, technology transfer, and sustained revenue. The state government reaffirmed its commitment to seeing the project through from land allocation to commissioning, positioning Ondo State as a serious destination for foreign direct investment in the mining and materials sector.
Key points
- The project has an estimated total capital outlay of $362 million across two developmental phases.
- The project is expected to generate more than N300 billion in annual gross economic value for Ondo State and over N480 billion nationally.
- The partnership is seen as a template for future PPP-driven industrial projects in the state.
