By Ayomide Otitoju
The President and Chief Executive of Dangote Industries Ltd., Alhaji Aliko Dangote, has announced the company’s readiness to return to the Olokola Free Trade Zone (OKFTZ) in Ogun Waterside Local Government Area to develop the largest seaport in Nigeria.
Dangote also disclosed that the company has resumed construction of a 6-million-metric-ton-per-annum cement factory in Itori, Ewekoro Local Government Area, slated for completion by November 2026. The industrialist expressed regret that the nearly $800 million project had faced delays due to opposition from former Governor Ibikunle Amosun.
Speaking during a visit to the ongoing cement factory project in Itori, Dangote said, “When we started building the new cement factory at Itori, former Governor Amosun demolished it. We restarted the project, but he demolished it again, including the fencing, so we left. But because of my brother, Governor Dapo Abiodun, we are back, and you will be surprised at the level of work ongoing there.”
Updating Governor Abiodun on the progress of the new cement plant, Dangote stated that the facility, covering 533 hectares, will complement the existing 12-million-metric-ton-per-annum Dangote Cement Plant in Ibese. Upon completion, Ogun State will have a combined cement production capacity of 18 million metric tons per annum, making it the largest cement-producing region in Africa.
Dangote also cited Governor Abiodun’s investor-friendly policies as the reason for reviving the company’s abandoned plan for the Olokola Free Trade Zone. “We earlier abandoned our vision of investing in the OKFTZ, but due to Governor Abiodun’s policies and the favorable investment climate, we are back. Plans are underway to construct the largest port in the country.”
He highlighted how Dangote Industries has contributed to Nigeria’s economic transformation. “Our investment in cement manufacturing has made Nigeria self-sufficient, eliminating the need for imports and enabling exports. We have achieved the same in fertilizer production, with surplus exports generating foreign exchange. In January 2024, we rolled out automotive gas oil (AGO), and in September 2024, we began producing Premium Motor Spirit (PMS) from our 650,000 barrels-per-day refinery in Ibeju-Lekki. The refinery meets domestic demand for all refined petroleum products, ensuring Nigeria is now an exporter rather than an importer.”
Dangote reiterated the company’s vision of ensuring Nigeria becomes self-sufficient in key commodities, leveraging its abundant natural resources for domestic manufacturing. He commended Governor Abiodun’s pro-business policies, which have made Ogun State an attractive investment destination.
Governor Abiodun, speaking at the event, praised Dangote’s resilience and commitment to industrializing Nigeria. He lauded the billionaire for returning to Itori to complete the $800 million cement factory despite past challenges, describing it as a testament to Dangote’s dedication to national development.
Abiodun also commended Dangote for the ongoing construction of the Sagamu Interchange to Papalanto road, emphasizing its critical role in the state’s economic growth. He assured that his administration will continue to create an enabling environment to attract further investments.
The governor described Dangote’s visit as historic, noting that it provided an opportunity to engage with the industrialist on further economic development initiatives for Ogun State.
