Alhaji Aliko Dangote, President and CEO of Dangote Industries Ltd, has announced his company’s decision to return to the Olokola Free Trade Zone (OKFTZ) in Ogun State to develop Nigeria’s largest seaport.
Speaking on Monday, March 17, Dangote also revealed that work has resumed on a 6-million-metric-tonne-per-year cement factory in Itori, Ewekoro Local Government Area, set for completion by November 2026.
He expressed regret that the nearly $800 million project had been delayed due to opposition from former Governor Ibikunle Amosun.
“When we started building the new cement factory at Itori, former Governor Amosun demolished it. We came back again and restarted the project, but he demolished it again, including the fencing, so we left,” Dangote said.
“But because of my brother, Governor Dapo Abiodun, we are back on site, and you will be surprised by the level of work ongoing there.”
Dangote explained that the Itori plant sits on 533 hectares of land and, upon completion, will boost Ogun State’s total cement production capacity to 18 million metric tonnes per annum, making it the largest cement-producing region in Africa.
The billionaire industrialist also announced the revival of the Olokola FTZ project, citing Governor Abiodun’s investor-friendly policies as a key factor.
“We earlier on abandoned our vision of investing in the Olokola Free Trade Zone (OKFTZ), but because of Governor Dapo Abiodun’s policies and investor-friendly environment, I want to say we are back and are going to work with the government and return to Olokola. Plans are underway to construct the largest port in the country,” he stated.
Dangote highlighted his company’s role in making Nigeria self-sufficient in cement production and exports, a feat that has also been replicated in the fertiliser industry.
“We have also repeated the feat in production of fertiliser, as Nigeria is now self-sufficient, with the surplus going for the export market, thereby generating foreign exchange earnings for the country,” he said.
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He further noted the success of the Dangote Refinery, which began rolling out diesel in January 2024 and petrol in September 2024.
“The refinery has the capacity to meet domestic demand for all refined petroleum products. Today, we have repeated the cement story, where a country that was once a net importer of a product is now exporting refined petroleum products,” he added.
Dangote reaffirmed his company’s commitment to making Nigeria self-sufficient in essential commodities, leveraging the country’s abundant natural resources.
He also praised Governor Abiodun for fostering a business-friendly environment, which he said has made Ogun one of Nigeria’s most attractive states for investment.
Governor Abiodun, in response, commended Dangote for his resilience in driving industrial development in Nigeria.
He described the billionaire’s decision to resume work on the Itori cement factory despite previous setbacks as proof of his dedication to national progress.
The governor also lauded Dangote for financing the construction of the Sagamu Interchange–Papalanto road, which he described as vital for the state’s economic growth.
He assured that his administration would continue to provide a conducive environment for investors, adding that Dangote’s visit marked an important moment for further collaboration on Ogun’s economic development.