Africa’s richest man and President of Dangote Industries Limited, Aliko Dangote, has announced plans to construct a multi-billion-dollar seaport in the Olokola Free Trade Zone (OKFTZ) in Ogun State. The project, set to become Nigeria’s largest seaport upon completion, marks a major comeback for Dangote in the state’s economic landscape.
Speaking during a courtesy visit to Governor Dapo Abiodun at the Ogun State Government House in Oke-Mosan, Abeokuta, Dangote attributed his renewed investment interest to the state’s favorable business climate and investor-friendly policies under the current administration. He praised the government’s commitment to attracting enterprises and ensuring a seamless business environment.
“Ogun State is one of the most attractive investment destinations in Nigeria, and it has positioned itself as the manufacturing hub of the country. We initially shelved our investment plans in Olokola, but the policies of this administration have brought us back,” Dangote stated.
The billionaire industrialist revealed that plans are in motion to develop the largest port in Nigeria, which will further boost Ogun’s economic prominence. He also disclosed that his company has resumed full operations at the Itori cement plant after previous setbacks.
Dangote Cement, Africa’s largest cement producer, is also expanding its footprint in Ogun State. The company is currently constructing two additional production lines at the Itori cement plant, adding six million metric tons per annum to its capacity. Meanwhile, the Ibese cement plant in Yewa North Local Government Area is producing 12 million metric tons annually. Upon completion, Ogun State will lead Africa in cement production with a total output of 18 million metric tons per annum.
“With the contributions of other cement producers, Ogun remains far ahead of many African countries in terms of cement production,” Dangote noted.
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He emphasized that his company’s commitment to manufacturing has made Nigeria self-sufficient in cement and fertilizer production, with surplus products now being exported to generate foreign exchange.
Dangote also highlighted his company’s impact on Nigeria’s energy sector. His 650,000 barrels-per-day refinery in Ibeju-Lekki is currently meeting the country’s demand for Premium Motor Spirit (PMS), refined aviation fuel, and Liquefied Petroleum Gas (LPG).
In his response, Governor Abiodun expressed excitement over Dangote’s renewed commitment to Ogun State, recalling how the relocation of the Dangote Refinery project to Lagos had been a painful loss for the state.
“For us in Ogun State, today is historic. In the same March when you did the groundbreaking for your refinery in Lagos, you are now returning to build Nigeria’s biggest seaport and complete the Itori cement plant. This means a lot to us,” Abiodun said.
The governor commended Dangote for his investments, which are set to make Ogun the largest cement-producing state in sub-Saharan Africa. He also praised the company’s Corporate Social Responsibility (CSR) initiatives, including the construction of the Interchange-Papalanto-Ilaro road under the federal government’s tax credit scheme.
Dangote and his team later led the governor on an inspection tour of the new cement plant under construction at Itori and the ongoing Papalanto concrete-paved road project.
