Dangote Unveils Ambitious Plan in Ogun State, Including Largest Seaport at Olokola FTZ

During a courtesy visit to Dapo Biodun, Governor of Ogun State, on Monday 17 March 2025, Aliko Dangote expressed his interest to build the largest seaport in Nigeria in the Olokola Free Trade Zone (OKFTZ). Although exact figures were publicized, it is estimated that the port will be in the ‘multi-billion dollar’ range.

Many years ago, Dangote initiated talks to build a petrochemical complex at the same Olokola FTZ. Finally, Dangote chose to build the refinery at the Lekki FTZ in Lagos State. The refinery has a capacity to refine up to 650,000 barrels of crude oil per day.

Quizzed on his renewed interest in Olokola FTZ, Dangote responded that the decision is motivated by Governor Abiodun’s ‘vision and deliberate policies that focus on attracting investors, as well as the investor-friendly climate that exists in the state.

He recalled the tragic episode of his cement factory in Itori which was demolished twice. However, with Governor Dapo Abiodun at the helm, Dangote is back. “Ogun State is one of the most attractive investment destinations in Nigeria, positioning itself as the manufacturing ‘bedrock’ of Nigeria.

As a matter of fact, Dangote now plans to rebuild the cement plant with new production lines having a capacity of 6 million tonnes per annum. Dangota has another cement plant in Ibese with an annual capacity of 12 million tonnes. Upon completion of the Itori plant, Dangote total production capacity will be 18 million tonnes, propelling Ogun into the top league of cement producing regions in Africa.

The seaport at Olokola will facilitate the import and export of raw materials and finished goods. The objective of Nigeria is to first become self-sufficient in essential commodities such as petroleum, cement and maize, before expanding into the regional West African market regrouped under ECOWAS.