Dangote Unveils Plan for Massive Industrial, Free Trade Zone in Ondo

President of the Dangote Group, Aliko Dangote, has reaffirmed plans to establish a large-scale industrial and free trade zone in Olokola, located in Ilaje Local Government Area of Ondo State.

Dangote disclosed this on Monday during a visit to Lucky Aiyedatiwa at the Government House in Akure, where he outlined a renewed investment strategy aimed at accelerating industrial development and attracting local and foreign investors.

According to him, the proposed project will serve as a fully integrated industrial hub powered by dedicated infrastructure, including electricity generation, gas supply networks, water systems and logistics facilities.

Dangote explained that the initiative is designed to eliminate many of the challenges that hinder industrial growth in Nigeria, particularly inadequate power supply and infrastructure deficits.

“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.

The billionaire industrialist noted that unreliable electricity remains one of the greatest obstacles to industrialisation in Nigeria, forcing many businesses to rely on expensive self-generated power.

He added that the Olokola project would incorporate a dedicated energy system supported by an east-west gas corridor to provide stable energy for manufacturers and other industrial users operating within the zone.

The proposed development will also include cement production facilities, gas infrastructure and other industrial manufacturing operations intended to boost economic activity and create employment opportunities.

Responding, Governor Aiyedatiwa welcomed the investment plan, describing it as a significant step toward transforming Ondo State into a major industrial destination in the South-West region.

The governor said the project aligns with his administration’s economic development agenda and highlighted the state’s strategic advantages, including its location along the Lagos-Calabar Coastal Highway corridor and its deep seaport licence.

He also pointed to the availability of commercially viable limestone deposits in the state, which could support future cement manufacturing expansion.

Aiyedatiwa disclosed that a technical committee had already been established to engage with the Dangote Group on issues relating to land acquisition, legal frameworks, host communities and operational requirements.

He assured the company of the state government’s full support to ensure the successful implementation and sustainability of the project.