The President of the Dangote Group, Aliko Dangote, has revived plans to develop the Olokola Industrial and Free Trade Zone in Ondo State, unveiling a major investment drive aimed at transforming the area into one of Nigeria’s largest industrial hubs.
Speaking during a courtesy visit to Governor Lucky Aiyedatiwa in Akure, Dangote said the project would provide investors with ready-to-use infrastructure, including dedicated power, water supply, gas facilities and logistics support.
According to him, the industrial zone is designed to eliminate key obstacles that have long discouraged manufacturing investments in Nigeria.
“We want to create the biggest free trade zone where investors can simply come and plug in. We will provide power, infrastructure and remove the bottlenecks around doing business,” Dangote said.
He noted that unreliable electricity remains the biggest challenge facing Nigeria’s industrial sector, forcing many manufacturers to generate their own power at high cost.
To address this, the proposed zone will feature an integrated power system alongside gas infrastructure supported by an east-west gas corridor to serve energy-intensive industries.
Dangote recalled that earlier efforts to develop projects in Olokola were stalled by operational challenges, leading the company to concentrate investments in Lagos. However, he said “improved conditions and stronger collaboration with the Ondo State Government have renewed confidence in the project”.
He disclosed that contractors are expected to move to the site within the next three to four months, while full-scale construction is scheduled to begin in the last quarter of the year.
The billionaire industrialist also proposed government participation in the project and requested the nomination of a state representative to sit on the board of the industrial zone.
Dangote said the development would create thousands of jobs, boost industrial activities and strengthen export earnings, drawing parallels with the economic impact of similar investments in Lagos.
Responding, Governor Aiyedatiwa described the project as a major boost to Ondo State’s industrialisation agenda and investment ambitions.
He said the initiative aligns with the state’s vision of becoming a leading industrial destination in South-West Nigeria, citing its strategic position along the Lagos-Calabar Coastal Highway corridor.
The governor also highlighted Ondo State’s deep seaport licence as a significant logistics advantage and revealed that limestone deposits in the state have been certified suitable for industrial use, opening opportunities for cement production.
Aiyedatiwa disclosed that a technical committee has already been set up to work with the Dangote Group on land, legal, community and operational issues.
He assured investors of the state’s full support, pledging close collaboration with host communities to ensure the successful execution and long-term sustainability of the project.
