…Construction expected to begin in final quarter of 2026 as governor predicts industrial revolution
President of the Dangote Group, Alhaji Aliko Dangote, has reaffirmed plans to establish what could become Nigeria’s largest industrial and free trade zone in Ondo State, a development expected to drive investment, create thousands of jobs and accelerate industrial growth across the region.
Speaking during a courtesy visit to Governor Lucky Orimisan Aiyedatiwa in Akure on Monday, Dangote unveiled a renewed investment strategy centred on the Olokola Free Trade Zone, with plans spanning power generation, cement production, gas infrastructure and large-scale manufacturing.
According to him, the proposed industrial hub will be far more than a conventional free trade zone. It will be developed as a fully serviced investment destination equipped with reliable electricity, water supply and logistics infrastructure, enabling businesses to commence operations without the challenges associated with inadequate public utilities.
“We want to create the biggest free trade zone where investors can simply come and plug in. We will generate power, provide infrastructure and remove the bottlenecks around doing business,” Dangote said.
He noted that Nigeria’s persistent electricity challenges have remained one of the greatest obstacles to industrial development for more than three decades, forcing many manufacturers to rely heavily on costly self-generated power.
To address this, the industrial zone will incorporate dedicated power generation and gas infrastructure, including an east-west gas corridor designed to support energy-intensive industries.
Dangote recalled previous efforts by his group to develop investments in Olokola, which were eventually abandoned due to operational difficulties, leading to a shift in focus towards Lagos. However, he said renewed engagement with the Ondo State Government and improved investment conditions had revived confidence in the project.
He disclosed that contractors are expected to mobilise to the site within the next three to four months, while full-scale construction is scheduled to commence in the final quarter of 2026.
The billionaire businessman also proposed government participation in the project, requesting that the state nominate a representative to serve on the board overseeing the industrial zone.
Beyond infrastructure development, Dangote expressed confidence that the project would stimulate significant economic activity, generate employment opportunities for thousands of people and boost export revenues, drawing comparisons with similar investments undertaken by the group in Lagos.
Responding, Governor Aiyedatiwa described the investment as a landmark development for Ondo State and a major step towards achieving his administration’s industrialisation agenda.
The governor said the project aligns with efforts to position Ondo as one of the leading investment destinations in South-West Nigeria, highlighting the state’s strategic location along the Lagos-Calabar Coastal Highway corridor.
He also pointed to the state’s deep seaport licence as a major competitive advantage, noting that it has the capacity to accommodate large vessels directly without the need for transshipment.
Aiyedatiwa further revealed that limestone deposits within the state had been tested and found suitable for industrial applications, creating additional opportunities for cement manufacturing and related industries.
To ensure the smooth implementation of the project, the governor said a technical committee had already been established to engage with Dangote Group on legal, land, operational and community-related matters.
He assured the investor of the state government’s full support, pledging close collaboration with stakeholders and host communities to guarantee the project’s long-term success.
“This investment has the potential to transform our economy, create jobs for our people and position Ondo State as a major industrial hub in Nigeria,” the governor said.
The meeting was attended by senior government officials, including Deputy Governor Dr Olayide Adelami, Chief of Staff Prince Segun Omojuwa, commissioners and representatives of the Ondo State Investment Promotion Agency.
Leave a Reply