Dangote Group plans to build Nigeria’s largest seaport at Olokola Free Trade Zone, taking advantage of the improved political environment in Ogun State. The company has also resumed work on an $800 million cement factory, which is anticipated to enhance the region’s cement production capacity significantly.

Africa’s wealthiest individual, President of Dangote Group, has announced the plan to construct Nigeria’s largest seaport at the Olokola Free Trade Zone located in Ogun State. This decision comes in light of a more favorable political climate under Governor Dapo Abiodun, who has created an investor-friendly atmosphere, leading to the revival of initial plans that were previously shelved.

The exact details of the seaport project remain undisclosed. Additionally, the Dangote Group has resumed construction on an $800 million cement factory covering 533 hectares near Itori, Ogun State, expected to commence operations by November 2026 and produce up to six million tonnes annually.

Previously, work on this factory faced delays due to opposition from former Governor Ibikunle Amosun, despite Ogun State already having a cement plant capable of producing 12 million tonnes in Ibese. Upon completion, the Itori plant will establish Ogun as Africa’s largest cement production hub.

Operating across 17 industrial and agricultural sectors, the Dangote Group continues to expand its footprint in Nigeria. According to a recent Forbes report, Aliko Dangote’s personal wealth is estimated at $24 billion, largely attributed to his 92% ownership of Dangote Petroleum Refinery and Petrochemicals.

In summary, the Dangote Group is set to build Nigeria’s largest seaport, motivated by a conducive political atmosphere in Ogun State. Simultaneously, the company has restarted the development of a significant cement factory, which will further bolster Ogun’s stature in cement production. Dangote’s notable wealth continues to reflect his extensive investments across various sectors.

Original Source: www.globalconstructionreview.com