Alhaji Aliko Dangote, President and Chief Executive of Dangote Group, has announced the company’s decision to return to the Olokola Free Trade Zone (OKFTZ) in Ogun Waterside Local Government Area for the development of Nigeria’s largest seaport.
Dangote also confirmed that his company has resumed construction of a 6-million-metric-ton-per-annum cement factory in Itori, Ewekoro Local Government Area. The project, valued at nearly $800 million, is slated for completion by November 2026.
The billionaire industrialist expressed regret that the Itori cement factory had faced significant delays due to opposition from former Governor Ibikunle Amosun.
He recalled that despite multiple attempts to establish the project, it was repeatedly demolished under Amosun’s administration.
However, he credited Governor Dapo Abiodun’s supportive policies for facilitating its revival.
During his visit to the construction site, Dangote stated, “When we started building the new cement factory at Itori, former Governor Amosun demolished it. We restarted the project, but it was again brought down, including the fencing. So, we left. But because of my brother, Governor Dapo Abiodun, we are back, and you will be surprised at the level of work already ongoing.”
Dangote further disclosed that the ongoing Itori cement plant spans 533 hectares and, once completed, will increase the state’s cement production capacity from 12 million to 18 million metric tons per annum, making Ogun the largest cement-producing region in Africa.
On the Olokola Free Trade Zone, Dangote revealed that the company had initially abandoned plans to invest in the area but has decided to return due to Governor Abiodun’s investor-friendly policies.
“We earlier abandoned our vision for the OKFTZ, but because of Governor Abiodun’s policies and a favorable business environment, we are back and ready to work with the government to construct the largest port in the country,” he stated.
Highlighting Dangote Industries’ contributions to Nigeria’s industrial growth, he emphasised that his cement investments had made Nigeria self-sufficient in the product, eliminating imports and positioning the country as an exporter. The same achievement, he noted, has been replicated in fertilizer production.
“We rolled out automotive gas oil (AGO) in January 2024 and Premium Motor Spirit (PMS) in September 2024 from our 650,000-barrel-per-day refinery in Ibeju-Lekki. Other products from the refinery include aviation fuel, LPG, and carbon black. The refinery has the capacity to meet Nigeria’s domestic demand for refined petroleum products, transforming the country from an importer to an exporter,” Dangote explained.
He reaffirmed his company’s goal of ensuring Nigeria’s self-sufficiency in key commodities, leveraging the nation’s abundant natural resources for local production.
Governor Abiodun, speaking at the event, commended Dangote’s resilience and dedication to Nigeria’s industrialisation.
He, particularly. praised him for returning to complete the Itori cement factory despite previous setbacks, describing it as a testament to his commitment to the country’s economic growth.
Abiodun also acknowledged Dangote’s contribution to infrastructure development, citing the ongoing construction of the Sagamu Interchange to Papalanto road as critical to the state’s economic expansion.
He assured that his administration would continue fostering a conducive environment to attract investors.
