Aliko Dangote, Africa’s richest man and President of the Dangote Group, has announced plans to develop Nigeria’s largest port in the Olokola Free Trade Zone (OKFTZ) in Ogun State, marking a revival of a long-abandoned project.
The billionaire industrialist made this disclosure on Monday during a courtesy visit to Governor Dapo Abiodun in Abeokuta, as reported by the News Agency of Nigeria (NAN). His visit, however, sparked controversy after he revealed that his company had previously abandoned investments in Ogun due to policy setbacks and government hostility under former Governor Ibikunle Amosun’s administration.
Reviving a Lost Opportunity
Dangote’s announcement to return to Olokola with plans for Nigeria’s largest deep-sea port is seen as a major boost to Ogun State’s industrial prospects. However, it has also reopened discussions on how the state lost out on one of Africa’s biggest oil refinery projects due to political and bureaucratic obstacles.
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Dangote recalled how his investment had been frustrated by past Ogun government policies, leading him to pull out. He revealed that even his cement plant in Itori was twice demolished under the past administration, prompting him to halt operations in the state.
“Our factory at Itori was demolished twice. During the second incident, not just the factory but even the fence was pulled down, so we abandoned the project,” Dangote said.
He credited Governor Dapo Abiodun’s administration for restoring investor confidence and reviving interest in Ogun State as a business destination.
“Thanks to your policies and a favorable business climate, we are returning to Olokola. Plans are underway to construct Nigeria’s largest port,” he announced.
Amosun Under Fire Over Allegations of Frustrating Dangote’s Investments
Dangote’s revelations have sparked a backlash against former Governor Ibikunle Amosun, who governed Ogun State from 2011 to 2019. Amosun has been accused of frustrating not just the Olokola project but also Dangote’s plan to build his multi-billion-dollar refinery in Ogun State—an opportunity that was ultimately lost to Lagos.
It is now widely known that before opting for Lagos’ Lekki Free Trade Zone, Dangote initially planned to site his refinery and petrochemical plant in Ogun State, a project that would have transformed the state into Nigeria’s industrial capital. However, he alleged that the government and certain stakeholders made it difficult for the project to proceed.
Dangote’s refinery, which is now operational in Lagos’ Lekki Free Trade Zone, is Africa’s largest and one of the world’s biggest single-train refineries. Experts believe that Ogun missed a golden opportunity to become an energy hub due to government interference at the time.
The renewed controversy over past anti-investment policies has triggered fresh debates on how political interests have stalled economic development in Ogun State, with critics accusing Amosun of prioritizing personal and political gains over economic progress.
Dangote Cement Expanding in Ogun State
Despite setbacks in the past, Dangote is now re-investing in Ogun, particularly in its cement production industry. He revealed that two new cement production lines with a combined capacity of six million metric tons per annum have been built in Itori. A separate twelve-million-metric-tons plant has been constructed in Ibeshe. Once completed, Ogun will become Sub-Saharan Africa’s largest cement-producing hub, strengthening Nigeria’s self-sufficiency in cement production.
The renewed investment aligns with Dangote’s vision of strengthening private-sector participation in Nigeria’s industrialization drive.
A Strategic Move for Trade and Economic Growth
The decision to revive the Olokola Free Trade Zone and build Nigeria’s largest port in Ogun State comes at a time when the country is grappling with severe logistics bottlenecks due to congestion at Lagos’ Apapa and Tin Can Island ports. A deep-sea port in Ogun State would ease pressure on Lagos ports, improving trade efficiency. It would strengthen Ogun’s position as a major industrial hub due to its proximity to Lagos and neighboring West African markets. The project would create thousands of jobs, boost local economies, and attract foreign investment.
Governor Abiodun Praises Dangote’s Renewed Investment
Governor Dapo Abiodun hailed Dangote’s decision to return to Ogun State, describing it as a historic moment. He noted that March 17 is significant because it coincides with the anniversary of Dangote’s groundbreaking ceremony for his Lagos refinery project.
“We are pleased to welcome Alhaji Aliko Dangote and his company back to Ogun State, as he reaffirmed his confidence in our administration’s vision and investor-friendly policies,” Governor Abiodun said.
He highlighted that the Itori cement plant and other Dangote investments will boost Ogun’s industrialization drive. The Olokola Free Trade Zone will be revived through Nigeria’s largest deep-sea port project. Dangote’s commitment to Corporate Social Responsibility (CSR) includes infrastructure projects such as the Interchange-Papalanto-Ilaro Road.
With the revival of the Olokola Free Trade Zone and a major deep-sea port project, Ogun State is poised for a new era of industrial and economic transformation. However, the controversy surrounding past missed opportunities under Governor Ibikunle Amosun has raised questions about how government policies can make or break economic progress.