President of the Dangote Group, Aliko Dangote, has announced plans to develop the Olokola Free Trade Zone (OKFTZ) in Ondo State into what he described as the largest industrial free trade zone in Nigeria. The project is expected to commence in the last quarter of 2026 and forms part of the conglomerate’s broader industrial expansion strategy across the country, reported by Channelstv
What You Need to Know
According to Dangote, the proposed development will transform the Olokola axis into a major industrial and export hub, providing critical infrastructure such as power generation, logistics facilities, manufacturing clusters, and export-processing capabilities. The initiative is designed to attract local and foreign investments while accelerating industrialization in Nigeria’s coastal region.
The industrial zone is closely linked to the ongoing Olokola Deep Seaport project, a multi-billion-dollar maritime infrastructure development that stretches across parts of Ogun and Ondo states. The seaport is expected to serve as a gateway for exports and imports, supporting regional trade and easing pressure on existing ports across the country.
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Dangote stated that the project aligns with the group’s long-term vision of creating integrated industrial ecosystems capable of driving manufacturing growth, export expansion, and economic diversification.
Implications
The proposed industrial zone is expected to generate thousands of direct and indirect jobs across manufacturing, logistics, construction, and support services. Analysts believe the development could significantly enhance Ondo State’s attractiveness as an investment destination and strengthen Nigeria’s position as a regional industrial powerhouse.
The project also complements wider investment activities already underway in Ondo, including plans for a major refinery and free trade zone development in the state’s coastal corridor. Together, these projects could reshape the economic landscape of the region and stimulate large-scale infrastructure development.
Industry observers note that the combination of a deep-sea port, free trade zone, and industrial clusters could significantly reduce logistics costs for manufacturers while boosting non-oil exports and strengthening Nigeria’s participation in global supply chains.
Conclusion
Dangote’s planned development of the Olokola Free Trade Zone marks one of the most ambitious industrial infrastructure projects proposed in Nigeria in recent years. If successfully executed, the initiative could establish Ondo State as a strategic industrial and export hub, driving investment, job creation, and long-term economic growth while reinforcing Nigeria’s industrialization agenda
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