Alhaji Aliko Dangote, President of the Dangote Group, has unveiled plans to establish what is expected to become Nigeria’s largest industrial and free trade zone in Ondo State, with construction scheduled to commence in the last quarter of 2026.
Dangote disclosed this during a courtesy visit to Governor Lucky Orimisan Aiyedatiwa at the Government House in Akure on Monday, where he outlined a comprehensive investment package that includes power generation, gas infrastructure, cement production, and industrial manufacturing.
The proposed development, to be situated at the Olokola Free Trade Zone (OKFTZ), is designed as a fully integrated industrial hub equipped with essential infrastructure such as electricity, water supply, and logistics facilities, enabling investors to establish operations without the challenges associated with inadequate public utilities.
“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.
According to him, the project seeks to address one of Nigeria’s biggest industrial challenges—unreliable power supply—which has compelled many manufacturers to depend on costly self-generated electricity for decades.
He explained that the industrial zone would feature dedicated power generation and a robust gas infrastructure network, including plans for an east-west gas corridor to support energy-intensive industries.
Dangote noted that previous attempts by his conglomerate to develop investments in Olokola were hindered by operational challenges, resulting in the relocation of several projects to Lagos State. However, he said improved conditions and renewed collaboration with the Ondo State Government have created a favourable environment for the project’s revival.
He revealed that contractors are expected to mobilise to the project site within the next three to four months, ahead of the commencement of full-scale construction later in the year.
The business mogul also proposed government participation in the project structure and requested that the Ondo State Government nominate a representative to serve on the board of the industrial zone to facilitate effective coordination and implementation.
Dangote expressed confidence that the initiative would drive large-scale industrialisation, create thousands of jobs, boost exports, and stimulate economic growth across Ondo State and neighbouring regions.
Responding, Governor Aiyedatiwa welcomed the investment proposal, describing it as a transformative development capable of accelerating the state’s industrialisation agenda and attracting significant domestic and foreign investments.
The governor said the project aligns with his administration’s vision of positioning Ondo State as a leading industrial and economic destination in the South-West region.
He highlighted the state’s strategic location along the Lagos-Calabar Coastal Highway corridor and its deep seaport licence as critical advantages that would support the success of the industrial zone.
Governor Aiyedatiwa also disclosed that extensive limestone deposits in Ondo State had been tested and found suitable for industrial applications, opening opportunities for future expansion in cement manufacturing.
To facilitate the project, the governor announced that the state government had already constituted a technical committee to engage with the Dangote Group on legal, land, community relations, and operational issues.
He also confirmed the state’s readiness to nominate a representative to the project’s board and assured investors of the government’s full support.
“Ondo State is fully committed to creating an enabling environment for investment. We will work closely with investors and host communities to ensure the smooth implementation and sustainability of this landmark project,” Aiyedatiwa said.
The meeting was attended by the Deputy Governor, Dr. Olayide Adelami; Chief of Staff, Prince Segun Omojuwa; Commissioner for Finance, Mrs. Omowunmi Isaac; Commissioner for Energy and Mineral Resources, Engr. Johnson Alabi; Commissioner for Commerce, Industry and Cooperative Services, Pastor Bola Ademuwagun; Commissioner for Environment, Dr. Tob Loko; Special Adviser on Special Duties, Comrade Gani Mohammed; and the Chief Executive Officer of the Ondo State Development and Investment Promotion Agency (ONDIPA), Barrister Emmanuel Omomowo.
The proposed Olokola Industrial and Free Trade Zone is expected to become one of the largest industrial investment destinations in West Africa, reinforcing the Federal Government’s economic diversification and industrialisation drive under the Renewed Hope Agenda.
