Akure, Ondo State – Aliko Dangote, President of the Dangote Group, has reaffirmed his conglomerate’s commitment to establishing a monumental industrial and free trade zone at Olokola, Ondo State. Dubbed a ‘power-driven investment hub,’ the project aims to attract manufacturers and significantly alleviate infrastructure bottlenecks for investors across Nigeria.
During a pivotal courtesy visit to Governor Lucky Orimisan Aiyedatiwa in Akure on Monday, Dangote detailed a revitalized investment framework. This comprehensive plan spans critical sectors including power generation, cement production, extensive gas infrastructure, and diverse industrial manufacturing. He was accompanied by key executives, including Olakunle Alake, Vice President of Dangote Industries Limited, and Capt. Jamil Abubakar, Managing Director of Logistics and Infrastructure for Dangote Industries Limited.
A Self-Sufficient Industrial Powerhouse
Dangote emphasized that the proposed Olokola project transcends the traditional free trade zone model. It is designed to be fully self-sufficient, meticulously equipped with integrated power, water, and robust logistics infrastructure. This holistic approach aims to empower investors, allowing them to operate without the typical delays associated with sourcing basic utilities in Nigeria.
“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,” Dangote stated, underscoring the zone’s unique value proposition.
Tackling Nigeria’s Power Deficit
A core driver behind this ambitious initiative is the urgent need to address Nigeria’s chronic power deficit, which Dangote described as the country’s most significant industrial constraint for over three decades. He highlighted that most manufacturers currently bear the heavy cost of generating their own electricity, a factor that has severely hampered industrial expansion nationwide.
The new industrial zone model will crucially integrate a dedicated, reliable energy supply. Furthermore, Dangote disclosed plans to weave in extensive gas infrastructure through an east-west gas corridor, designed to support energy-intensive industries operating within the zone.
Renewed Vision After Past Hurdles
Acknowledging previous attempts to develop investments in Olokola, Dangote noted that operational challenges at the time had led the group to concentrate its projects in Lagos. However, he conveyed that the current engagement signifies improved conditions and a stronger foundation for collaboration with the Ondo State government.
Looking ahead, Dangote revealed an aggressive timeline: contractors are expected to mobilize to the site within the next three to four months, with full construction slated to commence in the final quarter of the year. The project structure will also involve government participation, with Dangote requesting the nomination of a state representative to the industrial zone’s board to streamline coordination and execution.
Economic Boom for Ondo and Beyond
This initiative is projected to be a catalyst for large-scale job creation and significant industrial expansion not only across Ondo State but also within surrounding regions. Dangote cited similar projects in Lagos as benchmarks, which have successfully generated substantial employment opportunities and robust export revenues.
Responding to the announcement, Governor Aiyedatiwa warmly welcomed Dangote’s renewed investment drive, hailing it as a monumental step forward for Ondo State’s industrialization agenda.