Dangote Targets Mega Free Trade Zone in Ondo, Promises Thousands of Jobs and New Industries
- Aliko Dangote has announced plans to build a large industrial and free trade zone in Olokola, Ondo State, to attract investors and boost manufacturing
- The project will provide its own power, water, gas, and logistics infrastructure to help businesses operate without the challenges of inadequate utilities
- Ondo State Governor Lucky Aiyedatiwa has welcomed the investment, saying it will create jobs, drive industrial growth, and strengthen the state's economy
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Africa’s richest businessman, Aliko Dangote, has announced plans to establish a major industrial and free trade zone in Olokola, Ondo State, as part of efforts to attract investors, boost manufacturing, and tackle infrastructure challenges that have long hindered industrial growth in Nigeria.
Dangote disclosed the proposal during a visit to Governor Lucky Aiyedatiwa in Akure, describing the project as a transformative development that would create an enabling environment for businesses to operate efficiently.
Source: UGC
According to him, the proposed industrial zone will be designed to provide investors with all the critical infrastructure required to commence operations immediately without facing the usual delays associated with power, water, and logistics.
Integrated infrastructure to drive industrial growth
Dangote explained that the planned facility would be far more than a traditional free trade zone. It will feature dedicated power generation, water supply systems, transportation networks, and other essential infrastructure needed to support industrial activities.
He noted that inadequate electricity supply has remained one of the biggest obstacles to Nigeria’s industrial development for more than three decades, limiting expansion opportunities for manufacturers across the country.
To address this challenge, the industrial hub will incorporate its own energy solutions, ensuring reliable power for businesses operating within the zone. The project will also benefit from a proposed east-west gas pipeline corridor that will provide fuel for energy-intensive industries and support large-scale manufacturing activities.
Dangote added that contractors are expected to move to the project site within the next three to four months, while full-scale construction is scheduled to begin in the final quarter of the year.
Government partnership and job creation
As part of the project’s governance structure, Dangote proposed that the Ondo State Government nominate a representative to serve on the board overseeing the industrial zone.
He expressed confidence that the development would generate thousands of jobs, stimulate economic activity, and attract local and foreign investments to Ondo State and neighbouring regions.
He also pointed to the success of similar industrial projects in Lagos, which have contributed significantly to employment generation and export earnings.
Responding, Governor Aiyedatiwa welcomed the investment plan, describing it as a significant boost to the state’s industrialisation drive.
Aiyedatiwa further highlighted Ondo’s strategic advantages, including its location along the Lagos-Calabar Coastal Highway corridor, the possession of a deep seaport licence capable of handling large vessels, and abundant limestone deposits suitable for industrial applications, including cement production.
He said these assets position the state as an attractive destination for large-scale industrial investments.
Source: Legit.ng
