Africa’s foremost industrialist and President of Dangote Industries Limited, Aliko Dangote, has announced plans to return to Ogun State with a massive investment in the Olokola Free Trade Zone (OKFTZ). This comes years after the Dangote Group withdrew from a joint venture on oil and gas projects in the zone, which ultimately led to the construction of the Dangote Refinery in Ibeju-Lekki, Lagos State.
During a courtesy visit to Ogun State Governor Dapo Abiodun on Monday, Dangote revealed his intention to build a multi-billion dollar seaport in the Olokola FTZ, which will be the largest in Nigeria. He attributed his decision to return to Ogun State to the Abiodun administration’s investor-friendly policies and vision for economic growth.
“We had earlier abandoned our vision of investing in the Olokola Free Trade Zone, but because of your policies and investor-friendly environment, I want to say we are back and will work with the state government to return to Olokola. Plans are underway to construct the largest port in the country,” Dangote stated.
Ogun State: A Hub for Manufacturing and Investment
Dangote praised Ogun State as one of Nigeria’s most attractive investment destinations, describing it as the manufacturing “bedrock” of the nation. He also highlighted the state’s supportive environment for private sector growth, which has encouraged his company to reinvest in the region.
The industrialist recounted past challenges, including the demolition of Dangote’s factory at Itori twice, which initially forced the company to leave the state. However, he expressed confidence in the current administration’s commitment to fostering a conducive business climate.
“When we started the second time, they not only demolished the factory but also the fence, so we left. But right now, because of His Excellency, our governor, Prince Dapo Abiodun, we are back. When you visit the factory, you will be surprised at what we have done,” Dangote said.
Expanding Cement Production in Ogun State
Dangote also provided updates on the company’s ongoing projects in Ogun State, including the construction of two new cement production lines at Itori with a combined capacity of 6 million metric tons per annum. This expansion, alongside the existing 12 million metric tons per annum plant at Ibese, will bring the state’s total cement production capacity to 18 million metric tons per annum, making it the highest cement-producing region in Africa.
“With the contributions of other cement producers in the state, Ogun remains far ahead of other countries across Africa in terms of cement production,” Dangote noted.
He emphasized that Dangote Cement, with a total production capacity of 52 million metric tons per annum across Africa, is the continent’s leading cement producer. Nigeria accounts for 70% of this production, with the Obajana plant in Kogi State being the largest in Africa at 16.25 million metric tons per annum.
Driving Self-Sufficiency and Economic Growth
Dangote highlighted his company’s role in making Nigeria self-sufficient in cement and fertilizer, with surplus production now being exported to earn foreign exchange. He also pointed to the Dangote Refinery’s contribution to meeting domestic demand for Premium Motor Spirit (PMS), aviation fuel, and Liquefied Petroleum Gas (LPG).
“Our target is to make Nigeria self-sufficient in whatever it consumes,” Dangote said, reiterating his commitment to transforming the nation’s economy through strategic investments.
He expressed gratitude to the traditional rulers and communities in Itori and Yewaland for their support, which has enabled the smooth operation of the cement plant. He also assured continued adherence to corporate social responsibility initiatives in host communities.
Governor Abiodun Hails Dangote’s Return
In his response, Governor Dapo Abiodun described Dangote’s return to Ogun State as a historic moment, particularly as it coincides with the anniversary of the Dangote Refinery’s groundbreaking in Lagos. He expressed gratitude for Dangote’s belief in Nigeria and his contributions to job creation and economic development.
“Today is a historic day, March 17, 2025, the same March when you did the groundbreaking in Lagos for the refinery, and you are now coming back in the month of March to Ogun State. Not only have you chosen to complete Itori, but you have also chosen to come back and develop the biggest port in Nigeria. For this, I thank you,” Abiodun said.