President of Dangote Group, Alhaji Aliko Dangote, has unveiled plans to establish what he described as Nigeria’s largest industrial and free trade zone in Ondo State, with construction expected to commence in the last quarter of 2026.
Dangote, who disclosed this during a courtesy visit to Governor Lucky Aiyedatiwa in Akure, the state capital, outlined a multi-billion-dollar investment package covering power generation, gas infrastructure, cement production and industrial manufacturing.
According to him, the proposed Olokola Industrial and Free Trade Zone will be developed as a fully serviced investment destination, equipped with independent power supply, water and other critical infrastructure to attract local and foreign manufacturers.
“We want to create the biggest free trade zone where investors can simply come and plug in. We will generate power, provide infrastructure and remove the bottlenecks around doing business,” Dangote said.
He noted that inadequate electricity remains one of Nigeria’s biggest obstacles to industrial growth, forcing many manufacturers to rely on self-generated power and increasing production costs.
The business mogul said the industrial zone would integrate dedicated energy facilities and an east-west gas corridor to support industries operating within the complex and ensure uninterrupted production.
Dangote recalled that previous attempts to develop projects in Olokola were hampered by operational challenges, leading his company to concentrate major investments in Lagos.
He, however, expressed confidence that improved conditions and stronger collaboration with the Ondo State Government would guarantee the success of the new initiative.
He revealed that contractors are expected to move to the site within the next 3 to 4 months, and that he is seeking the nomination of a state government representative to serve on the industrial zone’s board to facilitate seamless coordination.
Dangote added that the project would create thousands of jobs, stimulate industrial activities and boost export earnings, similar to the economic impact of the group’s investments in Lagos.
Responding, Governor Aiyedatiwa described the investment as a breakthrough for Ondo State’s industrialisation agenda, saying it would accelerate economic growth and position the state as a leading investment destination in the South-West.
The governor highlighted the state’s strategic location along the Lagos-Calabar Coastal Highway corridor, its deep-sea port licence, and abundant limestone deposits, which he said provide strong advantages for industrial expansion and cement production.
Aiyedatiwa disclosed that a technical committee had already been constituted to work with Dangote Group on land, legal, community and operational issues, assuring the investor of the state government’s full support to ensure the successful implementation of the project.