Aliko Dangote plans to construct Nigeria’s largest seaport at the Olokola Free Trade Zone and has resumed work on a cement factory in Itori with a capacity of 6 million tons per annum, set to be completed by November 2026. These investments aim to bolster Nigeria’s self-sufficiency in cement and fertilizer production, along with a new petroleum refinery contributing to domestic fuel price reductions.
Aliko Dangote, President of Dangote Group, has announced ambitious plans to construct Nigeria’s largest seaport at the Olokola Free Trade Zone in Ogun State. This vision follows a positive dialogue with state officials, leading Dangote to reaffirm his commitment to invest in the area. Additionally, the company has restarted construction on a cement factory in Itori, which will have a capacity of 6 million metric tons per annum, scheduled for completion by November 2026.
This significant cement plant in Itori, located in Ewekoro Local Government Area, represents an investment of nearly $800 million. Despite previous delays attributed to opposition from former Governor Ibikunle Amosun, the establishment of this factory is critical to enhancing Nigeria’s cement output. The impending completion will elevate Ogun State’s total production to 18 million metric tons per annum, making it the foremost cement-producing region in Africa.
Aliko Dangote’s contributions have propelled Nigeria towards self-sufficiency in both the cement and fertilizer industries. His company’s initiatives have eradicated the need for cement imports and transformed Nigeria into a cement-exporting nation. Furthermore, the same successful trajectory has been observed in fertilizer production, where output is sufficient to meet local demand and allows for exporting surplus.
In addition to these ventures, Dangote has initiated operations at a sizable 650,000-barrel-per-day petroleum refinery. This facility has commenced exporting refined petroleum products, which is anticipated to contribute toward reducing domestic fuel prices, thus benefiting the nation’s economy.
In summary, Aliko Dangote’s strategic initiatives in Nigeria, including the development of a significant seaport and a new cement factory, underline his commitment to enhancing the country’s industrial capacity. By fostering self-sufficiency in cement and fertilizer production, and advancing petroleum refining capabilities, Dangote Group is poised to greatly contribute to Nigeria’s economic growth and stability.
Original Source: africa.businessinsider.com
