President of the Dangote Group, Alhaji Aliko Dangote, has unveiled plans to establish what he described as Nigeria’s largest industrial and free trade zone in Ondo State.
Dangote disclosed this on Monday during a courtesy visit to Governor Lucky Aiyedatiwa in Akure, the state capital.
He said the proposed Olokola Industrial Zone would be developed as a fully integrated investment destination, complete with power, water, gas and logistics infrastructure to ease the burden of doing business for investors.
According to him, the initiative is aimed at addressing the country’s persistent infrastructure challenges, particularly inadequate electricity supply, which has continued to hamper industrial growth.
“We want to build a free trade zone where investors can simply come in and commence operations. We will provide power and the necessary infrastructure required to support businesses,” Dangote said.
He noted that the project would incorporate gas facilities through an east-west gas pipeline corridor to meet the energy demands of industries expected to operate within the zone.
Dangote recalled that previous efforts to develop investments in Olokola were stalled by operational constraints but expressed optimism that improved conditions and stronger collaboration with the Ondo State Government would ensure the project’s success.
He added that contractors are expected to move to the site within the next three to four months, while construction is projected to begin in the last quarter of the year.
The businessman also sought government participation in the venture through the nomination of a representative to serve on the board of the industrial zone.
He said the project would create jobs, stimulate economic activities and boost industrialisation in Ondo State and neighbouring areas.
Responding, Governor Aiyedatiwa described the investment plan as a major boost to the state’s industrial development agenda.
The governor said the project aligns with his administration’s vision of positioning Ondo as a preferred investment destination in the Southwest.
He highlighted the state’s strategic advantages, including its deep seaport licence and its location along the Lagos-Calabar Coastal Highway corridor.
Aiyedatiwa also disclosed that limestone deposits found in the state had been certified suitable for industrial use, creating opportunities for cement production.
He said the state government had constituted a technical committee to interface with the Dangote Group on issues relating to land acquisition, legal frameworks, host communities and other operational matters.
The governor assured the investors of the government’s full support to ensure the successful execution and sustainability of the project.
Among those present at the meeting were Deputy Governor Olayide Adelami, Chief of Staff Segun Omojuwa, commissioners and other top government officials.
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