President of the Dangote Group, Alhaji Aliko Dangote, has announced plans to establish a large-scale industrial and free trade zone in Olokola, Ondo State, in a move aimed at boosting manufacturing, job creation and industrial development.
Gatekeepers News reports that Dangote disclosed the plan during a courtesy visit to Governor Lucky Aiyedatiwa at the Government House in Akure on Monday.
He explained that the proposed Olokola project would be more than a conventional free trade zone, describing it as a power-driven industrial hub designed to attract local and foreign manufacturers.
According to him, the zone will be equipped with critical infrastructure, including dedicated power supply, water and logistics facilities, enabling investors to operate without the challenges often associated with accessing basic utilities.
Dangote said the initiative forms part of a broader investment framework covering power generation, cement production, gas infrastructure and industrial manufacturing.
He identified inadequate electricity supply as Nigeria’s biggest industrial challenge over the past three decades, noting that many manufacturers still rely heavily on self-generated power.
The businessman recalled that previous efforts to develop investments in Olokola were hindered by operational difficulties, forcing the group to focus its projects in Lagos.
He, however, said conditions had improved significantly, creating fresh opportunities for collaboration with the Ondo State Government.
“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 said.
He further revealed plans to integrate gas infrastructure through an east-west gas corridor to support energy-intensive industries within the proposed zone.
According to him, contractors are expected to mobilise to the project site within the next three to four months, while full-scale construction is scheduled to begin in the last quarter of the year.
Dangote also proposed government participation in the project and requested the nomination of a state representative to serve on the board of the industrial zone to enhance coordination and implementation.
He said the project would drive large-scale job creation and industrial expansion in Ondo State and neighbouring regions, adding that similar investments in Lagos had generated substantial employment opportunities and export earnings.
Responding, Governor Lucky Aiyedatiwa described the proposed development as a major milestone in the state’s industrialisation agenda.
He said the project aligns with his administration’s vision of positioning Ondo as a leading industrial destination in South-West Nigeria, citing the state’s strategic location along the Lagos-Calabar Coastal Highway corridor.
Aiyedatiwa also highlighted Ondo’s deep seaport licence as a major advantage, noting that it would enable the handling of large vessels without the need for transshipment.
The governor further disclosed that limestone deposits in the state had been tested and confirmed suitable for industrial use, opening opportunities for expanded cement production.
He said a technical committee had already been constituted to engage with the Dangote Group on legal, land, community and operational matters, while confirming the state’s readiness to nominate a representative to the project’s board.
Aiyedatiwa assured the investors of full government support, stressing that the state would work closely with host communities and stakeholders to ensure the successful execution and long-term sustainability of the project.
