The President of Dangote Group, Alhaji Aliko Dangote, has disclosed plans to develop a large-scale industrial and free trade zone at Olokola in Ondo State.
According to Dangote, the proposed Olokola project would go beyond a conventional free trade zone, emphasising that the move as a power-driven investment hub will be designed to attract manufacturers.
Dangote, who made the disclosure during a courtesy visit to Governor Lucky Aiyedatiwa in his office in Akure on Monday, stressed that the free trade zone would be equipped with power, water and logistics infrastructure to enable investors to operate without delays associated with basic utilities.
While outlining a renewed investment framework covering power generation, cement production, gas infrastructure and industrial manufacturing, the initiative, according to Dangote, will address Nigeria’s long-standing power deficit, which he described as the country’s biggest industrial constraint for over 30 years, noting that most manufacturers currently rely on self-generated electricity.
He explained that the absence of reliable power had slowed industrial expansion across the country, adding that the new model would integrate dedicated energy supply into the industrial zone.
Dangote said the group had previously attempted to develop investments in Olokola but was constrained by operational challenges at the time, leading to the concentration of projects in Lagos.
He, however, said the renewed engagement reflects improved conditions and stronger collaboration prospects with the state government.
“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,” Dangote said.
He also disclosed plans to integrate gas infrastructure through an east-west gas corridor to support energy-intensive industries within the zone.
According to him, contractors are expected to mobilise to site within three to four months, with full construction scheduled to commence in the last quarter of the year.
He further indicated that the project structure would include government participation, requesting the nomination of a state representative to the board of the industrial zone to facilitate coordination and execution.
Dangote said the initiative would stimulate large-scale job creation and industrial expansion across Ondo State and surrounding regions, noting that similar projects in Lagos had delivered significant employment and export revenues.
On his part, Governor Lucky Aiyedatiwa views development as a major milestone in Ondo State’s industrialisation agenda, stating that the project aligns with his administration’s efforts to position the state as a leading industrial destination in the South-West, noting its strategic location along the Lagos-Calabar Coastal Highway corridor.
Aiyedatiwa also highlighted the state’s deep seaport licence, describing it as a key logistics advantage capable of handling large vessels without transshipment.
He disclosed that limestone deposits in the state had been tested and found suitable for industrial use, signalling potential for cement production expansion.
The governor said a technical committee had been established to engage with Dangote Group on legal, land, community and operational frameworks, while confirming readiness to nominate a state representative to the project board.
He assured full government backing for the initiative, stressing that Ondo State would work closely with investors and host communities to ensure smooth implementation and long-term sustainability.
