Africa’s richest man, Aliko Dangote, is set to begin construction of a new Atlantic seaport in Olokola, Ogun State, as part of efforts to expand his business empire and streamline export logistics.
The proposed seaport, located roughly 100 kilometres from Dangote’s refinery and fertiliser plants in Lagos, will serve as a major logistics hub, complementing an on-site jetty currently used for shipping urea and importing refinery equipment.
The Atlantic port is expected to rival other existing facilities in Lagos, including the recently opened Lekki Deep Sea Port.
According to Bloomberg, Dangote’s Vice President, Devakumar Edwin, said the port would play a pivotal role in exporting liquefied natural gas (LNG) from Lagos.
This would include building new pipelines from Nigeria’s gas-rich Niger Delta region to supply the project. Edwin noted that Dangote’s aim is to deliver more gas than the Nigerian LNG consortium currently produces.
The billionaire businessman formally submitted permit documents in late June to begin the project, which he says will bolster Nigeria’s industrial competitiveness and attract more private sector investment.
Related: Dangote Refinery to Construct Major Fuel Storage Hub in Namibia
“If we do this, it will encourage others to invest,” Dangote said, expressing optimism that the development would catalyze broader economic growth.
Interestingly, the Olokola site was initially earmarked for Dangote’s now-relocated refinery and fertiliser complex.
Earlier plans were shelved due to disputes with local authorities, but relations have since improved under a new state administration.
Aside from the port, Dangote is also preparing to launch domestic fuel distribution by August using a fleet of 4,000 gas-powered trucks — a move critics have labelled monopolistic, though Dangote has rejected such claims.
Valued at $27.8 billion by Bloomberg, Dangote continues to consolidate his presence in critical sectors, from cement and sugar to energy and infrastructure, with this latest seaport project marking a bold step toward integrated industrial dominance.
Image Credit: Business Insider Africa
