President of the Dangote Group, Aliko Dangote, has unveiled plans to develop what is expected to become Nigeria’s largest industrial and free trade zone in Olokola, Ondo State, in a move aimed at accelerating industrialisation, boosting manufacturing and creating thousands of jobs.

Dangote disclosed the plan during a courtesy visit to Lucky Orimisan Aiyedatiwa at the Government House in Akure on Monday, where he outlined a comprehensive investment programme spanning power generation, cement production, gas infrastructure and industrial manufacturing.

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Accompanied by Vice President of Dangote Industries Limited, Olakunle Alake, and Managing Director, Logistics and Infrastructure, Jamil Abubakar, Dangote said the proposed Olokola development would be designed as a fully integrated industrial ecosystem rather than a conventional free trade zone.

According to him, the project will provide dedicated electricity, water supply and logistics infrastructure, allowing manufacturers and investors to establish operations without the delays and costs associated with securing essential utilities.

“We want to create the biggest free trade zone where investors can just come and plug in. We will generate power, provide infrastructure and remove the bottlenecks around doing business,” Dangote said.

He identified inadequate electricity supply as the most significant challenge confronting Nigerian industry over the past three decades, noting that many manufacturers continue to rely heavily on self-generated power at considerable cost.

The industrial zone, he explained, is intended to address that challenge by embedding reliable energy infrastructure into its design. He added that the project would also incorporate gas infrastructure through a proposed east-west gas corridor to support energy-intensive industries operating within the zone.

Dangote recalled that earlier efforts to establish major investments in Olokola had been hampered by operational and regulatory challenges, forcing the group to concentrate several projects in Lagos. He noted, however, that improved conditions and stronger engagement with the Ondo State Government had revived confidence in the viability of the project.

He revealed that contractors are expected to mobilise to the project site within the next three to four months, while full-scale construction is scheduled to commence in the last quarter of 2026.

The billionaire industrialist also proposed government participation in the project structure, requesting the nomination of a representative of the Ondo State Government to serve on the board of the industrial zone to facilitate coordination and implementation.

Dangote expressed confidence that the development would serve as a catalyst for large-scale industrial expansion, job creation and economic growth in Ondo State and neighbouring regions, citing the impact of similar investments undertaken by the group in Lagos.

Responding, Governor Aiyedatiwa described the proposed investment as a landmark development for the state and a major boost to its industrialisation agenda.

The governor said the project aligns with his administration’s vision of positioning Ondo as a leading industrial destination in southwestern Nigeria, particularly given its strategic location along the route of the proposed Lagos-Calabar Coastal Highway.

Aiyedatiwa also highlighted the state’s deep seaport licence as a major competitive advantage, noting that the facility would be capable of accommodating large vessels and facilitating direct cargo movement without transshipment.

He further disclosed that limestone deposits in Ondo State had undergone testing and were found suitable for industrial applications, opening prospects for expanded cement manufacturing activities.

According to the governor, a technical committee has already been established to engage with the Dangote Group on critical issues including legal arrangements, land acquisition, community relations and operational frameworks.

He confirmed the state’s readiness to nominate a representative to the project board and assured investors of full government support.

“Ondo State is ready for this transformation. We will work closely with investors and host communities to ensure smooth implementation and long-term sustainability of the project,” he said.

Industry observers say the proposed Olokola Industrial Zone could significantly reshape the economic landscape of Ondo State if successfully executed, strengthening Nigeria’s manufacturing base, attracting foreign and domestic investment, and creating a new industrial growth corridor outside the country’s traditional commercial centres.