President of the Dangote Group, Aliko Dangote, has announced plans to develop what he described as Nigeria’s largest industrial and free trade zone in Olokola, Ondo State, as part of a major investment drive aimed at boosting industrialisation and addressing infrastructure challenges. Dangote disclosed the initiative during a courtesy visit to Governor Lucky Aiyedatiwa in […]
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President of the Dangote Group, Aliko Dangote, has announced plans to develop what he described as Nigeria’s largest industrial and free trade zone in Olokola, Ondo State, as part of a major investment drive aimed at boosting industrialisation and addressing infrastructure challenges.
Dangote disclosed the initiative during a courtesy visit to Governor Lucky Aiyedatiwa in Akure, where he outlined plans covering power generation, gas infrastructure, manufacturing, logistics and industrial development.
According to him, the proposed industrial zone will be designed as a fully integrated investment hub, providing reliable electricity, water supply and other critical infrastructure needed by manufacturers and investors.
“We want to create the biggest free trade zone where investors can simply come in and begin operations. We will provide power and the necessary infrastructure while removing the bottlenecks associated with doing business,” Dangote said.
He noted that unreliable electricity remains one of the biggest challenges facing industrial growth in Nigeria, adding that the project would incorporate dedicated power generation facilities to support industries operating within the zone.
Dangote also revealed plans to develop gas infrastructure through an east-west gas corridor to serve energy-intensive industries and enhance industrial productivity.
The businessman explained that previous efforts to establish major investments in Olokola faced operational challenges, leading the company to focus on projects in Lagos. He said improved conditions and stronger collaboration with the Ondo State Government have renewed confidence in the project.
Contractors are expected to move to the site within the next three to four months, while full construction is scheduled to commence in the last quarter of the year.
Dangote added that the state government would be represented on the board of the industrial zone to facilitate effective coordination and implementation.
He expressed confidence that the project would create thousands of jobs, attract local and foreign investment, and stimulate economic growth across Ondo State and neighbouring regions.
Responding, Governor Aiyedatiwa described the project as a significant milestone in the state’s industrialisation agenda.
The governor said the initiative aligns with efforts to position Ondo as a leading investment destination in the South-West, citing the state’s strategic location along the Lagos-Calabar Coastal Highway corridor and its deep seaport licence as key advantages.
He also highlighted the availability of industrial-grade limestone deposits in the state, which could support future cement manufacturing investments.
Aiyedatiwa disclosed that a technical committee has been established to engage with the Dangote Group on issues relating to land acquisition, legal frameworks, community relations and project implementation.
The governor assured the company of the state’s full support and commitment to ensuring the successful execution of the project.
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