Alhaji Aliko Dangote, President of the Dangote Group, has revealed plans to establish a large-scale industrial and free trade zone at Olokola in Ondo State. The project aims to go beyond a conventional free trade zone, focusing on a power-driven investment hub designed to attract manufacturers.
Key Features of the Proposed Zone
During a courtesy visit to Governor Lucky Aiyedatiwa in Akure on Monday, Dangote emphasized that the free trade zone would be equipped with power, water, and logistics infrastructure. This setup will enable investors to operate without delays associated with basic utilities.
The initiative outlines a renewed investment framework covering power generation, cement production, gas infrastructure, and industrial manufacturing. Dangote noted that it will address Nigeria's long-standing power deficit, which he described as the country's biggest industrial constraint for over 30 years. Most manufacturers currently rely on self-generated electricity, and the absence of reliable power has slowed industrial expansion across the country. The new model will integrate dedicated energy supply into the industrial zone.
Past Challenges and Renewed Engagement
Dangote mentioned that the group had previously attempted to develop investments in Olokola but faced operational challenges at the time, leading to a concentration of projects in Lagos. However, 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.
Gas Infrastructure and Timeline
Plans also include integrating gas infrastructure through an east-west gas corridor to support energy-intensive industries within the zone. Contractors are expected to mobilize to the site within three to four months, with full construction scheduled to commence in the last quarter of 2026. The project structure will include government participation, and Dangote requested the nomination of a state representative to the board of the industrial zone to facilitate coordination and execution.
The initiative is expected to stimulate large-scale job creation and industrial expansion across Ondo State and surrounding regions, similar to projects in Lagos that have delivered significant employment and export revenues.
Government Support and Strategic Advantages
Governor Lucky Aiyedatiwa described the development as a major milestone in Ondo State's industrialization agenda. He stated 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 as a key logistics advantage capable of handling large vessels without transshipment. Limestone deposits in the state have been tested and found suitable for industrial use, signaling potential for cement production expansion.
The governor announced that a technical committee has been established to engage with Dangote Group on legal, land, community, and operational frameworks. He confirmed readiness to nominate a state representative to the project board and assured full government backing for the initiative, emphasizing that Ondo State will work closely with investors and host communities to ensure smooth implementation and long-term sustainability.
