The president of Nigerian conglomerate Dangote Group plans to build Nigeria’s biggest seaport at the Olokola Free Trade Zone in Ogun State.
He said it was because of an improved political climate in the state during a visit to its governor, Dapo Abiodun, Business News Nigeria reports.
“We earlier on abandoned our vision of investing in the Olokola Free Trade Zone, but because of Governor Dapo Abiodun’s policies and investor-friendly environment, we are back and … plans are under way to construct the largest port in the country,” he said.
He did not give any further details of the project.
He also said his company had restarted work on an $800m cement factory located on 533ha of land near the city of Itori, in Ogun State, north of Lagos.
The factory is expected to open by November 2026, with an annual output of up to 6 million tonnes.
Dangote attributed the interruption to opposition from former governor Ibikunle Amosun, despite the fact that Ogun State already has a 12 million tonne cement plant in Ibese.
When the Itori project is complete, Ogun will be the largest cement-producing region in Africa.
The Dangote group operates in 17 industrial and agricultural sectors.
Dangote himself is billed as “Africa’s richest man”. A recent article by Forbes magazine estimated his personal wealth at $24bn, due largely to his 92% stake in Dangote Petroleum Refinery & Petrochemicals.
- Subscribe here to get stories about construction around the world in your inbox three times a week
Further reading:
