President of Dangote Group, Aliko Dangote, has announced plans to develop a large-scale industrial and free trade zone in Ondo State, a project expected to strengthen industrial activities and attract significant investments to the region.
Dangote disclosed the initiative during a visit to Ondo State Governor Lucky Aiyedatiwa in Akure, where he presented the company’s vision for transforming the Olokola Free Trade Zone into a major industrial and business destination.
According to him, the proposed development will provide essential infrastructure such as power generation facilities, water supply systems, transportation networks, and logistics support, creating a more conducive environment for investors and manufacturers.
The billionaire businessman explained that the industrial zone is designed to serve as a fully integrated investment hub capable of attracting local and international businesses. He noted that inadequate infrastructure remains one of the key challenges facing industrial development in Nigeria, and the project is aimed at addressing that gap.
Dangote revealed that contractors are expected to move to the project site in the coming months, while substantial construction activities are scheduled to begin in the last quarter of 2026.
He added that the development is expected to generate thousands of direct and indirect jobs, stimulate economic growth, and support industrial expansion across Ondo State and neighboring regions.
The planned industrial zone also aligns with Dangote Industries’ broader vision for the Olokola axis, including the proposed development of a deep seaport and supporting logistics infrastructure. Industry experts believe these projects could significantly improve trade activities by facilitating the movement of goods for both local and international markets.
Governor Lucky Aiyedatiwa welcomed the investment proposal, describing it as a major step toward accelerating the state’s economic transformation. He expressed optimism that the project would boost employment opportunities, attract additional investors, and strengthen Ondo State’s position as a growing industrial destination.
Economic analysts have also highlighted the potential impact of the initiative, noting that the combination of an industrial hub and a future deep seaport could transform the Olokola area into one of Nigeria’s leading centers for manufacturing, logistics, and regional trade.
If completed as planned, the project is expected to contribute significantly to Nigeria’s industrialization efforts while enhancing the country’s competitiveness as a manufacturing and export hub in West Africa.
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