The Dangote Group plans to build Nigeria’s largest port at the Olokola Free Trade Zone, following improvements in local governance. Additionally, they are restarting an $800 million cement factory in Itori, projected to enhance Ogun State’s cement production capacity. Aliko Dangote remains a key economic figure with substantial personal wealth amassed from his business ventures.
The president of the Dangote Group, a prominent Nigerian conglomerate, announced plans to construct Nigeria’s largest port within the Olokola Free Trade Zone located in Ogun State. This decision follows a favorable political climate in the state, highlighted during a visit to Governor Dapo Abiodun. The group had previously postponed its investment in this area but is now moving forward due to the governor’s policies which encourage business investment.
In addition to the port project, the Dangote Group has recommenced construction on an $800 million cement factory in the vicinity of Itori, Ogun State. This facility, covering 533 hectares, is projected to commence operations by November 2026, with an anticipated annual production capacity of up to six million tonnes. The initial halt in the project was attributed to opposition from the former governor, Ibikunle Amosun, despite the existing capacity of a 12 million tonne cement plant in Ibese.
Upon completion of the Itori cement factory, Ogun State is set to emerge as the leading cement-producing region in Africa. The Dangote Group’s diverse portfolio spans across 17 industrial and agricultural sectors, further positioning itself as a significant player in the marketplace. Aliko Dangote, the chairman, is recognized as “Africa’s richest man,” with an estimated personal wealth of $24 billion primarily due to a 92% ownership stake in Dangote Petroleum Refinery & Petrochemicals.
To summarize, the Dangote Group aims to construct Nigeria’s largest port at Olokola Free Trade Zone due to an improved investment climate under Governor Dapo Abiodun. The group is also resuming work on a major cement factory, which will make Ogun State the largest cement-producing region in Africa. Aliko Dangote continues to be a crucial figure in Nigeria’s economic landscape, emphasizing the group’s significant contributions to various sectors.
Original Source: www.globalconstructionreview.com
