Aliko Dangote plans to build Nigeria’s largest seaport at the Olokola Free Trade Zone and has restarted construction on a 6-million-metric-ton cement factory in Itori, set to complete by November 2026. His investments in cement and fertilizer have positioned Nigeria as a self-sufficient and exporting nation in these markets.
Aliko Dangote, the President of Dangote Group, has revealed new plans to establish Nigeria’s largest seaport at the Olokola Free Trade Zone in Ogun State. This announcement follows a meeting with the state governor, where he expressed appreciation for the supportive policies encouraging investments in the region. He reaffirmed the group’s commitment to return to the Olokola Free Trade Zone after previously halting efforts, stating that building the largest port in Nigeria is a priority.
In addition to the port plans, Dangote Group has resumed work on a 6-million-metric-ton-per-annum cement factory located in Itori, Ogun State. This factory is projected to be finished by November 2026, expanding Nigeria’s cement production capacity significantly. Dangote pointed out that the project, valued at nearly $800 million, experienced delays due to past opposition, which he regrets.
Ogun State is already home to a significant Cement Plant in Ibese, producing 12 million metric tons per annum. Once the Itori factory is operational, the combined production capacity will reach 18 million metric tons per annum, reinforcing Ogun’s position as the leading cement-producing region in Africa.
Dangote’s investments in cement and fertilizer manufacturing have been pivotal in making Nigeria self-sufficient in these sectors. His efforts have transformed Nigeria from a nation reliant on imports to one that exports both cement and fertilizer, thus providing foreign exchange for the country. Furthermore, his petrochemical refinery, with a capacity of 650,000 barrels per day, has begun exporting refined products while helping the country lower domestic fuel prices.
Aliko Dangote’s ambitious plans for Nigeria include the construction of the largest seaport and a significant cement factory in Ogun State, reflecting his commitment to economic development. The resumption of the cement factory’s construction, alongside existing operations, will enhance Nigeria’s cement exporting capabilities. Moreover, his investments in fertilizer and petroleum sectors further underline a broader strategy to foster self-sufficiency and prosperity within Nigeria’s economy.
Original Source: africa.businessinsider.com
