The President of Dangote Group, Aliko Dangote, has announced plans to develop what is expected to become Nigeria’s largest industrial and free trade zone in Olokola, Ondo State, with full construction scheduled to commence in the last quarter of 2026.
Dangote disclosed this during a courtesy visit to Ondo State Governor, Lucky Orimisan Aiyedatiwa, in Akure on Monday, where he unveiled a renewed investment framework focused on power generation, cement production, gas infrastructure and industrial manufacturing.
According to Dangote, the proposed Olokola Industrial and Free Trade Zone will be designed as a fully integrated industrial hub, equipped with independent power generation, water supply and modern logistics infrastructure to enable investors to establish operations with minimal delays.
“We want to create the biggest free trade zone where investors can just come and plug in. We will generate power, provide infrastructure and remove the bottlenecks around doing business,” he said.
He noted that unreliable electricity supply has remained Nigeria’s biggest industrial challenge for more than three decades, forcing many manufacturers to depend on self-generated power. The new industrial zone, he said, is intended to address this challenge by guaranteeing dedicated energy supply for businesses.
Dangote also revealed plans to integrate gas infrastructure into the project through an east-west gas corridor to support energy-intensive industries operating within the zone.
Recalling previous efforts to invest in Olokola, the business magnate said earlier plans were hindered by operational challenges, leading the group to concentrate investments in Lagos. He, however, expressed optimism that improved conditions and stronger collaboration with the Ondo State Government would ensure the success of the renewed initiative.
He disclosed that contractors are expected to mobilise to the project site within the next three to four months ahead of the commencement of major construction works.
The Dangote Group president further requested the nomination of a representative of the Ondo State Government to serve on the board of the industrial zone, saying government participation would strengthen coordination and implementation.
He added that the project is expected to generate thousands of jobs, boost industrial activities and increase export opportunities across Ondo State and neighbouring regions.
Responding, Governor Aiyedatiwa described the investment as a significant milestone in the state’s industrialisation drive, saying the project aligns with his administration’s vision of positioning Ondo as a leading industrial destination in the South-West.
The governor highlighted the state’s strategic location along the Lagos-Calabar Coastal Highway corridor and its deep seaport licence, which he said would provide a major logistics advantage for industrial operations.
Aiyedatiwa also disclosed that limestone deposits in the state had been tested and confirmed suitable for industrial use, opening opportunities for expanded cement production.
He announced the establishment of a technical committee to engage with the Dangote Group on land acquisition, legal issues, community relations and operational frameworks, while assuring investors of the state government’s full support.
“The project will transform Ondo State into a major industrial hub, create jobs and stimulate economic growth. We are committed to working closely with investors and host communities to ensure its successful implementation,” the governor said.
The meeting was attended by the Deputy Governor, Olayide Adelami, members of the State Executive Council and top officials of the Ondo State Investment Promotion Agency.