“DANGOTE’S AMBITIOUS LEAP: AFRICA’S RICHEST MAN PLANS NIGERIA’S LARGEST SEAPORT IN OGUN STATE”
GREATRIBUNETVNEWS–Aliko Dangote, President and CEO of Dangote Group, has taken a significant step towards developing Nigeria’s largest and deepest seaport in Olokola, Ogun State. This multibillion-dollar project aims to boost exports, enhance logistics, and solidify Dangote’s industrial empire.
Key Features of the Olokola Seaport
– Ultra-deep berths: capable of accommodating large container and LNG vessels
– Specialized terminals: for bulk cargo, containers, and gas exports
– Free trade zone integration: linking directly to surrounding industrial parks
– Modern logistics and customs facilities: supporting international trade
Economic Impact
– Reducing congestion: easing pressure on Lagos ports and accelerating trade flows for West Africa
– Boosting exports: facilitating the export of liquefied natural gas (LNG), urea, fertilizers, and other industrial goods
– Job creation: generating employment opportunities and stimulating economic growth in Nigeria
Strategic Alignment
– National Development Plan: aligning with Nigeria’s broader infrastructure agenda and maritime industry forecast
– African Continental Free Trade Area (AfCFTA): taking advantage of the AfCFTA to enhance regional trade and commerce
– Industrialization: supporting Dangote’s vision for Nigeria’s industrialization and economic transformation
Speaking during an interview with Bloomberg in Lagos on Monday, Dangote disclosed that he submitted the necessary paperwork for the seaport project in late June.
The planned port, located about 100 kilometres from his Lekki-based refinery and fertilizer complex in Lagos, is expected to ease the export of goods such as fertilizer, petrochemicals, and liquefied natural gas, while enhancing access for imported equipment and raw materials.
“It’s not that we want to do everything by ourselves, but I think doing this will encourage other entrepreneurs to come into it,” Dangote said, expressing optimism that the project would attract more private investment into Nigeria’s underdeveloped port infrastructure.
Dangote currently exports urea and fertilizer through an on-site jetty he built, that also receives heavy equipment for the refinery.
The proposed Atlantic seaport, if approved, will rival existing ports in Lagos, including the recently completed Lekki Deep Sea Port, which was funded by Chinese investors and began operations in 2023.
It also marks a return to the Olokola site for Dangote, who had previously shelved plans to site his massive refinery and fertilizer plant there due to conflicts with local authorities.
Those disputes, however, appear to have been resolved under the current administration.
The development also comes four months after he disclosed readiness of the company to return to the Olokola Free Trade Zone in Ogun Waterside Local Government Area of the state.
Dangote also plans to export liquefied gas from Lagos, a project that will involve constructing pipelines from Nigeria’s oil-rich Niger Delta., vice-president of the group Devakumar Edwin said in another interview.
“We want to do a major project to bring more gas than what NLNG is doing today,” he said, referring to Nigeria LNG Ltd., a joint-venture between the government, Shell Plc, Eni SpA and TotalEnergies SE, which is currently the continent’s largest exporter of LNG.
“We know where there is a lot of gas, so run a pipeline all through and then bring it to the shore.”
Dangote already sources natural gas from the Niger Delta to supply his fertilizer plant, where it’s used as feedstock to produce hydrogen for ammonia, a key component in the production of the crop nutrient.
The billionaire also plans to start distributing fuel to retailers in Nigeria from August, using a fleet of 4,000 gas-powered trucks, a move that has drawn criticism from some groups accusing him of attempting to monopolise the oil sector, which he has denied.
Dangote, valued at $27.8bn according to the Bloomberg Billionaires Index, also owns cement manufacturing and sugar plants in Africa.
