Dangote Group Unveils Plans for Nigeria’s Largest Seaport and Cement Factory

Aliko Dangote plans to establish Nigeria’s largest seaport at the Olokola Free Trade Zone and has resumed construction of a 6-million-metric-ton-per-annum cement factory in Itori, expected to complete by November 2026. These projects are part of Dangote’s broader strategy to make Nigeria self-sufficient in cement and fertilizer production, contributing to the economic transformation of the country.

Aliko Dangote, President of the Dangote Group, has announced plans to construct Nigeria’s largest seaport at the Olokola Free Trade Zone in Ogun State, signifying a significant investment in the region. The company has also recommenced construction of a cement factory in Itori, with an expected production capacity of six million metric tons annually, set for completion by November 2026.

During his courtesy visit to the Ogun State governor, Dangote remarked on the influence of Governor Dapo Abiodun’s investor-friendly policies, which encouraged his company to resume its vision for the Olokola Free Trade Zone project. He emphasized the importance of collaboration with state authorities to ensure the port’s successful development.

The Itori cement factory, with nearly $800 million in estimated costs, faced delays due to previous administrative opposition. However, this new plant will augment the existing Dangote Cement Plant in Ibese, contributing to Ogun State’s cement production capacity reaching 18 million metric tons annually, thereby establishing it as Africa’s highest cement-producing region.

Dangote articulated the broader impact of his company’s initiatives across various sectors, notably in cement and fertilizer production, which have fostered Nigeria’s self-sufficiency and even positioned the nation as an exporter. Additionally, he mentioned his ongoing efforts in the oil sector with a 650,000-barrel-per-day refinery that is reducing local fuel prices while boosting exports of refined products.

In conclusion, Aliko Dangote’s ambitious projects in Ogun State, including the construction of Nigeria’s largest seaport and the Itori cement factory, aim to enhance the nation’s industrial capacity significantly. These developments not only signify Dangote’s commitment to Nigeria’s economic growth but also exemplify the company’s pivotal role in achieving self-sufficiency in cement and fertilizer production, which has transformed Nigeria into an exporting nation. Overall, these initiatives have substantial implications for Nigeria’s economic landscape and industrial resilience.

Original Source: africa.businessinsider.com