Africa’s richest man and President of Dangote Industries Ltd, Alhaji Aliko Dangote, has announced plans to develop Nigeria’s largest seaport in the Olokola Free Trade Zone (OKFTZ), Ogun State. He also confirmed the revival of a $800 million cement factory project in Itori, Ewekoro Local Government Area, which is now scheduled for completion by November 2026.
Cement Factory Revival After Years of Setbacks
Dangote revealed that the 6-million-metric-ton-per-annum cement factory in Itori had suffered multiple setbacks due to opposition from the previous administration of former Governor Ibikunle Amosun.
“We started building the cement factory in Itori, but former Governor Amosun demolished it. We returned to the site, restarted the project, and he demolished it again—including the fencing. So, we left.”
Now, with the support of Governor Dapo Abiodun, the project has resumed. Dangote expressed confidence in the current administration, commending its pro-investment policies.
Upon completion, the Itori cement factory will increase Ogun State’s cement production capacity to 18 million metric tons per annum, making it the highest-producing cement region in Africa.
Plans for Nigeria’s Largest Seaport
Dangote also confirmed his company’s decision to reinvest in the Olokola Free Trade Zone, a project that was previously abandoned due to unfavorable policies.
“We initially abandoned our investment plans for Olokola FTZ, but with Governor Abiodun’s investor-friendly environment, we are back. Plans are underway to construct the largest port in Nigeria.”
The proposed seaport is expected to boost international trade, enhance logistics efficiency, and further solidify Ogun State as a key player in Nigeria’s economic growth.
Dangote’s Impact on Nigeria’s Economy
Dangote highlighted his company’s role in transforming Nigeria into a self-sufficient cement producer and a cement-exporting nation.
Beyond cement, he emphasized achievements in fertilizer production, making Nigeria self-sufficient in the sector and generating foreign exchange earnings through exports.
He also noted the success of the Dangote Refinery, a 650,000-barrels-per-day facility in Ibeju-Lekki, which began producing diesel in January 2024 and petrol in September 2024. The refinery now meets Nigeria’s domestic demand for refined petroleum products, with surplus exports strengthening the country’s economic independence.
“Just like in cement, Nigeria has transitioned from being an importer to an exporter of refined petroleum products,” Dangote remarked.
With these new investments in infrastructure, manufacturing, and energy, Dangote’s industrial expansion is set to drive economic growth, job creation, and global competitiveness for Nigeria.
