Alhaji Aliko Dangote, President/CEO of Dangote Industries Ltd, announced the company’s readiness to return to the Olokola Free Trade Zone in Ogun State. He disclosed plans for the country’s largest seaport project during a visit on Monday. Dangote also confirmed the company’s decision to resume the construction of a 6 million metric tons per annum cement factory at Itori, Ewekoro Local Government Area. This factory is expected to be completed by November 2026.
Challenges and Resumption of the Itori Cement Project
Dangote expressed regret over delays in the $800 million Itori cement factory project. He attributed these delays to the opposition of former Governor Ibikunle Amosun. Dangote revealed that Amosun had demolished the factory twice, including its fencing, forcing the company to halt construction. Despite these setbacks, Dangote emphasized that they are back on-site, thanks to the support of Governor Dapo Abiodun.
“We are back to the site, and you will be surprised by the progress being made,” Dangote said.
Expansion Plans and Cement Production in Ogun State
Dangote elaborated on the ongoing cement project at Itori, which occupies 533 hectares of land. He confirmed that the project will have a capacity of 6 million metric tons per annum. Once completed, Ogun State will have a total cement production capacity of 18 million metric tons per annum. This will make it the highest cement-producing region in Africa. Currently, the Dangote Cement Plant in Ibese has a capacity of 12 million metric tons per annum.
Return to Olokola Free Trade Zone for the Largest Port in Nigeria
Dangote revealed that his company is returning to Olokola Free Trade Zone to build Nigeria’s largest port. He credited Governor Abiodun’s favorable policies for creating an investor-friendly environment in Ogun State. “We had earlier abandoned the Olokola Free Trade Zone project, but due to Governor Abiodun’s policies, we are back,” Dangote explained. Plans are already underway to construct the country’s largest port at the site.
Dangote’s Contribution to Nigeria’s Self-Sufficiency in Cement and Fertilizer
Dangote reflected on the company’s role in making Nigeria self-sufficient in cement production. He highlighted that Nigeria, once a cement importer, is now a cement exporter. Dangote also mentioned his company’s success in the fertilizer sector. “Nigeria is now self-sufficient in fertilizer production, and the surplus is being exported, generating foreign exchange for the country,” he said.
Advances in the Petroleum Sector
Dangote also discussed his company’s refinery in Ibeju-Lekki. The refinery, with a capacity of 650,000 barrels per day, started producing automotive gas oil (AGO) in January 2024. It also began producing Premium Motor Spirit (PMS) in September 2024. This refinery meets domestic demand for all refined petroleum products, marking a shift from being an importer to an exporter of refined petroleum products.
Creating an Investor-Friendly Environment in Ogun State
Dangote noted that creating an investor-friendly environment is crucial for attracting investments. He praised Governor Abiodun for policies that have made Ogun State one of Nigeria’s top investment destinations.
Governor Abiodun’s Support for Dangote’s Projects
Governor Abiodun commended Dangote for his resilience in continuing to invest in Nigeria, despite previous setbacks. He especially praised Dangote for returning to Ogun State to build the $800 million cement factory at Itori. Abiodun also praised Dangote for his role in constructing the Sagamu Interchange to Papalanto road, which is critical for the state’s economic growth.
Abiodun assured that his government would continue to foster an environment conducive to attracting investors. He described Dangote’s visit as historic and a valuable opportunity for the state government to engage with him on further economic development plans.
