The President of Dangote Group, Alhaji Aliko Dangote, has disclosed plans to establish what is expected to become Nigeria’s largest industrial and free trade zone in Ondo State, with construction slated to commence in the final quarter of 2026.
Dangote revealed the investment initiative on Monday during a visit to Governor Lucky Aiyedatiwa in Akure, where he outlined a comprehensive development strategy covering power generation, gas infrastructure, manufacturing and cement production.
According to him, the proposed industrial hub at Olokola will be designed as a fully serviced investment destination, providing critical infrastructure such as electricity, water supply and logistics facilities to support seamless business operations.
“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,” he said.
Dangote explained that the project is intended to tackle one of the major challenges confronting industries in Nigeria—unreliable electricity supply—which has compelled many manufacturers to depend on costly self-generated power.
He noted that integrating dedicated energy infrastructure into the zone would create a more competitive environment for investors and stimulate industrial growth.
The business magnate also disclosed plans to incorporate gas infrastructure through an east-west gas corridor aimed at supporting industries with high energy demands.
He recalled that previous efforts to develop projects in Olokola were hindered by operational difficulties, forcing the company to redirect some investments to Lagos. He, however, expressed confidence that improved conditions and stronger collaboration with the Ondo State Government would ensure the project's success.
Dangote said contractors are expected to move to the site within the next three to four months, while full-scale construction is projected to begin before the end of the year.
He added that the development model would accommodate government participation and requested the nomination of a state representative to serve on the board overseeing the industrial zone.
The industrialist said the project would generate thousands of jobs and drive economic expansion across Ondo State and neighbouring regions, citing the economic benefits recorded from similar investments in Lagos.
Responding, Governor Aiyedatiwa described the planned investment as a significant boost to the state's industrialisation drive, expressing optimism that it would transform Ondo into a major manufacturing and investment destination.
The governor said the project aligns with his administration’s vision of leveraging the state’s strategic position along the Lagos-Calabar Coastal Highway corridor to attract large-scale investments.
He also highlighted the state's deep seaport licence as a major advantage for industrial development, noting that it would facilitate the movement of goods and accommodate large vessels.
Aiyedatiwa further revealed that limestone deposits found in the state had been tested and certified suitable for industrial applications, opening opportunities for expansion in cement production.
The governor disclosed that a technical committee had already been constituted to engage with Dangote Group on issues relating to land acquisition, legal frameworks, host community relations and operational requirements.
He assured the investor of the state government's full support and pledged close collaboration with all stakeholders to ensure the successful implementation and sustainability of the project.
The meeting was attended by top government officials, including Deputy Governor Olayide Adelami, Chief of Staff Segun Omojuwa, commissioners and other senior aides of the state government.
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