Alhaji Aliko Dangote, President and Chief Executive of Dangote Industries Ltd, has announced his company’s return to the Olokola Free Trade Zone (OKFTZ) in Ogun Waterside Local Government Area to establish the country’s largest seaport.
Dangote also revealed that his company has resumed work on a 6-million-metric-ton-per-annum cement factory in Itori, Ewekoro Local Government Area, with completion targeted for November 2026.
The billionaire industrialist made these disclosures on Monday during a visit to the Itori cement plant construction site. He lamented that the project, which was originally planned to be completed much earlier, was stalled due to opposition from former Ogun State Governor Ibikunle Amosun.
“When we started building the new cement factory at Itori, former Governor Amosun demolished it. We came back again and restarted the project, but Governor Amosun also came again, demolished the factory and even the fencing, so we left,” Dangote stated.
He added that the company decided to return to the site due to the support of the current governor, Dapo Abiodun. “But because of my brother, Governor Dapo Abiodun, we are back to the site, and you will be surprised with the level of work ongoing there,” he said.
Dangote noted that the Itori plant, covering 533 hectares, will add to the 12 million metric tons per annum (Mta) already produced at the Dangote Cement Plant in Ibese. Once completed, the total production capacity in Ogun State will rise to 18Mta, making it the highest cement-producing state or region in Africa.
He also explained his decision to revive the OKFTZ project, which had previously been abandoned. “We earlier on abandoned our vision of investing in the Olokola Free Trade Zone, but because of Governor Dapo Abiodun’s policies and investor-friendly environment, I want to say we are back. Plans are underway to construct the largest port in the country,” Dangote said.
Dangote emphasized that his company’s investment in cement manufacturing has made Nigeria self-sufficient, eliminating the need for imports and positioning the country as an exporter. He noted similar success in fertilizer production, with local supply meeting domestic demand and surplus exports generating foreign exchange.
In the energy sector, he highlighted the achievements of the Dangote Refinery, which began rolling out automotive gas oil (AGO) in January 2024 and premium motor spirit (PMS) in September 2024. Located in Ibeju-Lekki, the 650,000 barrels-per-day refinery also produces aviation fuel, liquefied petroleum gas (LPG), and carbon black.
“The refinery has the capacity to meet domestic demand for all refined petroleum products. Today, we have repeated the cement story, where a country that was once a net importer of a product is now exporting refined petroleum products,” he stated.
Dangote reaffirmed his company’s commitment to making Nigeria self-sufficient in all major consumables, leveraging the country’s abundant natural resources for local manufacturing. He praised the Ogun State government for fostering a business-friendly environment that encourages industrial investment
Speaking at the event, Governor Dapo Abiodun commended Dangote’s resilience and dedication to industrializing Nigeria. He acknowledged the challenges the Itori project had faced under the previous administration but praised Dangote for pushing forward.
Abiodun also lauded the ongoing construction of the Sagamu Interchange to Papalanto road, describing it as crucial to the economic development of the state. He reaffirmed his administration’s commitment to creating an enabling environment for investors.
The governor described Dangote’s visit as historic, noting that it provided an opportunity to discuss further economic development strategies for the state.