President of Dangote Group, Aliko Dangote, has reaffirmed plans to develop a large-scale industrial and free trade zone at Olokola in Ondo State, describing it as a power-driven investment hub designed to attract manufacturers and reduce infrastructure constraints for investors.
Dangote disclosed during a courtesy visit to Governor Lucky Orimisan Aiyedatiwa in his office in Akure, on Monday, where he outlined a renewed investment framework covering power generation, cement production, gas infrastructure, and industrial manufacturing. He was accompanied by the Vice President, Dangote Industries Limited, Olakunle Alake, and the Managing Director, Logistics and Infrastructure, Dangote Industries Limited, Capt.
Jamil Abubakar. Dangote, in his remarks during the visit, said the proposed Olokola project would go beyond a conventional free trade zone, stressing that it would be fully equipped with power, water, and logistics infrastructure to enable investors to operate without delays associated with basic 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,” he said. According to him, the initiative was designed to address Nigeria’s long-standing power deficit, which he described as the country’s biggest industrial constraint for over 30 years, noting that most manufacturers currently rely on self-generated electricity.
He explained that the absence of reliable power had slowed industrial expansion across the country, adding that the new model would integrate a dedicated energy supply into the industrial zone. The industrialist also disclosed plans to integrate gas infrastructure through an east-west gas corridor to support energy-intensive industries within the zone.
Dangote said the group had previously attempted to develop investments in Olokola but was constrained by operational challenges at the time, leading to the concentration of projects in Lagos. He, however, said the renewed engagement reflects improved conditions and stronger collaboration prospects with the state government.
According to him, contractors are expected to mobilise to the site within three to four months, with full construction scheduled to commence in the last quarter of the year. He also indicated that the project structure would include government participation, requesting the nomination of a state representative to the board of the industrial zone to facilitate coordination and execution.