Africa’s richest man, Aliko Dangote, has officially resumed plans to construct Nigeria’s largest deep seaport in the Olokola Free Trade Zone (OKFTZ), located in Ogun State. The announcement has sparked nationwide excitement, with experts calling it a game-changer for Nigeria’s economy and West African trade.
During a high-profile visit to Governor Dapo Abiodun in March 2025, Dangote confirmed that paperwork has been submitted and planning has resumed for the multi-billion-dollar infrastructure project. This marks a major revival of the Olokola initiative, which had been stalled for years due to political and investment-related concerns.
“We are back in Olokola,” Dangote said during the visit. “This time, we are not only building a seaport — we are building Nigeria’s largest, with the capacity to rival others on the continent.”
The Olokola seaport project will serve as a critical hub for imports, exports and industrial operations, linking Nigeria’s southwest to global markets. It is expected to attract foreign investment, boost job creation, and ease the burden on Lagos ports, which are currently overwhelmed by congestion and inefficiency.
Governor Abiodun hailed Dangote’s renewed commitment, noting that his administration has worked hard to restore investor confidence and remove bureaucratic barriers. “Ogun State is open for business. This project will transform our economy and position Ogun as the new industrial capital of Nigeria,” the governor stated.
In addition to the seaport, Dangote is also constructing a 6-million-ton-per-annum cement plant in Itori, Ogun State, which will further expand his industrial footprint and create thousands of jobs.
The Olokola development is part of a broader strategy to modernize Nigeria’s infrastructure and shift the country toward self-sufficiency in key sectors.
As the groundwork begins, economic analysts are calling the project a bold step toward unlocking Nigeria’s full maritime potential — one that could rival ports in Ghana, Togo, and even South Africa.
Shola Akinyele
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