Aliko Dangote, the President and Chief Executive of Dangote Industries Ltd, has announced plans to develop the largest seaport in Nigeria at the Olokola Free Trade Zone (OKFTZ) in Ogun Waterside Local Government Area. He also confirmed that his company has resumed work on a massive cement factory in Itori, Ewekoro Local Government Area, which is expected to be completed by November 2026.
During a visit to the Itori cement plant site, Dangote expressed disappointment over previous setbacks that delayed the project. He noted that the construction of the $800 million facility was halted due to opposition from former Governor Ibikunle Amosun, who allegedly ordered its demolition on two separate occasions.
He explained, “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.”
However, Dangote stated that he has resumed the project due to the support of the current governor, Dapo Abiodun. He assured that the factory, once completed, would significantly boost the state’s cement production capacity. Ogun State already hosts the 12 million metric tons per annum (Mta) Dangote Cement Plant in Ibese, and with the addition of the Itori facility, the state will become the highest cement-producing region in Africa with a total capacity of 18 Mta.
In addition to the cement plant, Dangote revealed his company’s decision to return to the Olokola Free Trade Zone to develop Nigeria’s largest port. He noted that the favorable policies of Governor Abiodun played a key role in this decision.
He said, “We earlier on abandoned our vision of investing in the Olokola Free Trade Zone (OKFTZ), but because of Governor Dapo Abiodun’s policies and investor-friendly environment, I want to say we are back and are going to work with the government and return to Olokola and plans are underway to construct the largest port in the country.”
Dangote also pointed out how his company’s investments have helped Nigeria achieve self-sufficiency in cement production and fertilizer manufacturing. He noted that Nigeria no longer imports cement and now exports the product, a transformation that has strengthened the country’s economy.
He further stated that Dangote’s refinery, which began rolling out automotive gas oil (AGO) in January 2024 and premium motor spirit (PMS) in September 2024, has the capacity to meet the nation’s demand for refined petroleum products. This, he said, has turned Nigeria from an importer to an exporter of refined fuel.
Speaking at the event, Governor Abiodun commended Dangote’s commitment to industrializing Nigeria despite challenges. He described the billionaire businessman as an exemplary investor whose contributions continue to drive economic growth.
The governor also appreciated Dangote’s involvement in road construction, particularly the Sagamu Interchange to Papalanto road, which he described as a crucial route for economic development. He assured that his administration would continue to provide a business-friendly environment to attract more investors.
