Africa’s richest man, Aliko Dangote, has announced two major industrial projects in Ogun State, reinforcing his dominance in Nigeria’s infrastructure and manufacturing sectors. His company, Dangote Group, is set to build Nigeria’s largest seaport at the Olokola Free Trade Zone (OKFTZ) and revive construction of a 6-million-metric-ton-per-year cement plant in Itori, a project that had been stalled for years.
With these initiatives, Dangote is reshaping Nigeria’s industrial future, expanding the nation’s manufacturing and trade capacities while positioning Ogun State as Africa’s cement production hub.
$800 Million Cement Plant in Itori: A Game-Changer for Nigeria’s Cement Industry
During a visit to the 533-hectare Itori cement plant, Dangote confirmed that work has resumed after years of delays, with completion set for November 2026. The $800 million project had suffered repeated setbacks, including two demolitions under the previous administration.
Once operational, the facility will push Ogun State’s cement production capacity to 18 million metric tons per year, surpassing all other regions in Africa. This expansion aligns with Dangote’s broader strategy—to solidify Nigeria’s self-sufficiency in cement production and increase exports across the continent.
The Itori plant will complement Dangote’s existing cement empire, which already operates facilities in Obajana (Kogi State), Ibese (Ogun State), and Gboko (Benue State). These factories have eliminated Nigeria’s dependence on cement imports, turning the country into a net exporter.
Olokola Free Trade Zone: The Future Site of Nigeria’s Largest Seaport
Beyond cement, Dangote is reviving the long-abandoned Olokola Free Trade Zone (OKFTZ), which he now envisions as the site of Nigeria’s largest seaport. The 10,500-hectare zone, originally launched in 2004 as a joint venture between Ogun and Ondo States, had been stalled due to legal battles and bureaucratic bottlenecks.
However, renewed support from Ogun State Governor Dapo Abiodun has revived interest in the project. Dangote confirmed that plans are already in motion to construct the port, which will turn Ogun Waterside Local Government Area into a major industrial hub, attracting investments in oil and gas, logistics, and export processing.
“We had abandoned our vision for the Olokola Free Trade Zone, but with Governor Abiodun’s investor-friendly policies, we are back,” Dangote stated. “We will work with the government to bring this project to life.”
The seaport will complement Nigeria’s existing maritime infrastructure, easing congestion at Apapa and Tin Can ports in Lagos while unlocking new trade routes for businesses.
Dangote’s Investments Reshaping Nigeria’s Economy
These projects add to Dangote’s extensive portfolio, which has played a pivotal role in transforming Nigeria’s economy across multiple industries:
1. Cement & Construction: A Self-Sufficient Industry
Dangote Cement is Africa’s largest cement producer, with operations in 10 countries. His company has ended Nigeria’s reliance on imported cement while driving major infrastructure development across the country.
2. Fertilizer: Africa’s Largest Urea Producer
The Dangote Fertilizer Plant, the largest in Africa, supplies local farmers and exports to major international markets, including the U.S., India, and Brazil. This has positioned Nigeria as a global fertilizer powerhouse.
3. Oil & Gas: The $23 Billion Refinery Changing Nigeria’s Energy Sector
The Dangote Refinery, a $23 billion mega-project, is now operational, refining 350,000 barrels per day (b/d), with plans to reach 500,000 b/d by January 2025 and full capacity of 650,000 b/d soon after.
•The 6,200-acre refinery, located in the Lekki Free Zone, has already cut Nigeria’s reliance on imported fuel, reducing foreign exchange pressures.
•The company is expanding crude storage capacity to 3.4 billion liters, with eight new tanks under construction—four nearing completion.
•International Expansion: Dangote has already begun exporting diesel and jet fuel to Cameroon, Angola, Ghana, and South Africa, with Saudi Aramco recently signing a supply deal.
A Billionaire’s Vision for Nigeria’s Future
With his latest investments in cement, seaports, and manufacturing, Aliko Dangote is reinforcing his position as Africa’s most powerful industrialist. His projects are set to create thousands of jobs, drive industrialization, and boost Nigeria’s global trade competitiveness.
As his business empire continues to expand, Dangote’s influence on Nigeria’s economy grows stronger, solidifying his legacy as the country’s most transformational business leader.
