The President of the Dangote Group, Alhaji Aliko Dangote, has officially announced plans to return to Ondo State to establish what is envisioned to be Nigeria’s largest industrial and free trade zone.
Speaking with journalists on Monday after a high-profile courtesy visit to Governor Lucky Orimisan Aiyedatiwa in Akure, the business mogul shared his renewed commitment to developing the Olokola Free Trade Zone, a project he had stepped away from over a decade ago.
Dangote described the move as a major gift to the state, revealing that construction is slated to begin in the final quarter of 2026. The ambitious project aims to transform the region into a bustling economic hub by tackling the foundational challenges that typically deter manufacturers. According to Dangote, the group will provide plug-and-play infrastructure, including dedicated power, water, gas, and advanced logistics, allowing future investors to set up factories seamlessly without worrying about overhead bottlenecks.
Driving Economic Growth and Job Creation
Reflecting on the scale of the upcoming project, Dangote hinted that the financial commitment would likely surpass his initial $6 billion proposal from nearly two decades ago. He emphasized that the development would not rely solely on his group’s capital but would serve as a magnet for global and local investors. The ripple effect on the local economy is expected to be massive, particularly regarding employment and real estate.
“We want to create here the biggest industrial zone in Nigeria, you know, with the provision of power and other infrastructure, where investors can easily just come and put up their own investment,” Dangote stated. “When this starts, there will be a lot of jobs for the people, and I’m sure the people of Ondo state will be very, very happy. Not only here, but also the neighbouring states. You know, the last time we did this mega project that we were supposed to have done here in Lagos, the refinery alone, we had over 67,000 workers.”
The industrialist also noted that the project would heavily benefit local communities. Pointing to the economic transformation seen around the Lagos free zone—where land prices surged by over 1,500%—Dangote assured residents that the Olokola project would follow a community-first model. The company intends to allow locals to construct housing units for the incoming workforce, ensuring that salary payouts directly stimulate the local economy.
Leadership and Political Will Ignite the Return
When questioned about what triggered his return to the Sunshine State after a twelve-year hiatus, Dangote credited the leadership style and business acumen of the current administration. He praised Governor Aiyedatiwa for fostering a commercial environment that welcomes private sector collaboration to drive state development.
“Well, first of all, I think now we have a great leader in Governor Aiyedatiwa who is a business-minded person,” Dangote explained. “And I think he knows the importance of bringing in private sector to develop the state. His actions have been very encouraging and that’s one of the main reasons we came back here. The atmosphere is friendlier now.”
Ondo State Government Responds
Governor Lucky Orimisan Aiyedatiwa warmly welcomed the investment delegation, describing the partnership as a monumental step toward the complete industrial transformation of Ondo State. The state government has moved swiftly to ensure the project’s success by setting up a dedicated technical committee to collaborate closely with the Dangote Group.
The administration has pledged its full institutional support to guarantee a smooth transition to the site by late 2026, anticipating that the mega-hub will serve as the primary catalyst for regional economic growth, infrastructure expansion, and thousands of new industrial jobs.
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