Aliko Dangote is set to build 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. These developments are poised to make Nigeria self-sufficient and a leader in cement and fertilizer exports, while enhancing economic growth in the region.
Aliko Dangote, the President of Dangote Group, has announced plans to establish Nigeria’s largest seaport at the Olokola Free Trade Zone in Ogun State. This strategic move was disclosed during his visit with the state governor. Dangote mentioned that previous plans were halted but revitalized thanks to the favorable policies of Governor Dapo Abiodun, paving the way for investment and development in the area.
In addition to the seaport, Dangote Group has resumed work on a significant project, a cement factory in Itori, with a production capacity of 6 million metric tons per annum. The facility, located in Ewekoro Local Government Area, is anticipated to be completed by November 2026. Dangote expressed regret over earlier delays caused by political opposition but is optimistic about the project’s future.
Once the Itori factory is operational, Ogun State’s overall cement production capacity will ascend to 18 million metric tons per annum, solidifying its status as the leading cement-producing region in Africa. The completion of existing facilities, including the Dangote Cement Plant in Ibese, contributes to this prominence.
Dangote’s investments have fundamentally shifted Nigeria’s position in the cement and fertilizer markets. His company has eliminated the dependency on imports, transforming Nigeria into a cement-exporting nation. This success has been mirrored in the fertilizer sector, which not only fulfills local demands but also enables Nigeria to export surplus products, boosting foreign exchange earnings.
On a wider scope, Dangote highlighted his company’s achievements across various industries in Nigeria. For instance, his 650,000-barrel-per-day refinery has commenced exporting refined crude products and has played a crucial role in lowering domestic fuel prices.
In conclusion, Aliko Dangote’s ambitious plans for Nigeria include not only the construction of the largest seaport but also the completion of a major cement factory. These initiatives significantly enhance Nigeria’s self-sufficiency in cement and fertilizer production, transforming the country into an exporter in these sectors. With his investments spanning across diverse industries, Dangote aims to foster economic growth and stability in Nigeria.
Original Source: africa.businessinsider.com
