President of the Dangote Group, Aliko Dangote, has revealed that the business-friendly leadership of Ondo State Governor, Lucky Aiyedatiwa, was a major factor behind his decision to revive investment plans at the Olokola Free Trade Zone (OKFTZ) after more than a decade.
Dangote made this known on Monday while addressing journalists after a courtesy visit to Governor Aiyedatiwa in Akure, where he announced plans to return to Olokola and establish what he described as Nigeria’s largest industrial zone.
According to the billionaire industrialist, the current administration has created a more conducive environment for private-sector investment, making Ondo State attractive once again for large-scale industrial development.
“First of all, I think now we have a great leader in Governor Aiyedatiwa who is a business-minded person. He understands the importance of bringing in the private sector to develop the state. His actions have been very encouraging, and that is one of the main reasons we came back here. The atmosphere is friendlier now,” Dangote said.
He disclosed that his company plans to develop a massive industrial hub at Olokola, complete with power, water and other critical infrastructure that would attract investors from across Nigeria and beyond.
Dangote said construction is expected to commence in the last quarter of the year, adding that the project would generate thousands of jobs and stimulate economic growth in Ondo State and neighbouring states.
The industrialist noted that the renewed investment could exceed the $6 billion earlier proposed for the Olokola project nearly two decades ago.
He explained that beyond the Dangote Group’s investment, the industrial zone would be designed to accommodate other manufacturers and investors who would have access to ready-made infrastructure, reducing the cost of setting up businesses.
The planned return of the Dangote Group to Olokola marks a significant boost for Ondo State’s industrialisation agenda and is expected to position the state as a major investment destination in the country.