President of the Aliko Dangote-led Dangote Group has announced plans to establish what is expected to become Nigeria’s largest industrial and free trade zone in Olokola, Ondo State, with construction scheduled to commence in the fourth quarter of 2026.
The ambitious project is designed to accelerate industrialization, attract local and foreign investments, and position Ondo State as a major manufacturing and logistics hub in Nigeria and West Africa.Speaking during discussions with the Ondo State Government, Dangote disclosed that the proposed industrial zone will feature world-class infrastructure, including dedicated power generation facilities, water supply systems, gas distribution networks, and modern logistics services aimed at addressing some of the key challenges facing manufacturers in the country.
According to him, the initiative will create an enabling environment for businesses to thrive by eliminating critical bottlenecks such as inadequate power supply, poor infrastructure, and high operating costs that often hinder industrial growth.
The project is also expected to include significant investments in cement production, power generation, and gas infrastructure, further strengthening Nigeria’s industrial capacity and supporting the Federal Government’s drive for economic diversification and increased local production.Governor of Ondo State, Lucky Orimisan Aiyedatiwa, welcomed the development, describing it as a landmark investment that would transform the economic landscape of the state.
Aiyedatiwa noted that the establishment of the industrial and free trade zone aligns with his administration’s vision of attracting strategic investments, creating employment opportunities, and unlocking Ondo State’s vast economic potential.To ensure the successful implementation of the project, the state government has constituted a technical committee that will work closely with officials of the Dangote Group on planning, coordination, and execution.
The governor also assured investors of the state government’s commitment to providing the necessary support, policy stability, and conducive business environment required for the project to succeed.Economic analysts believe the development could stimulate industrial activities across the South-West region, generate thousands of direct and indirect jobs, increase government revenue, and enhance Nigeria’s competitiveness as a destination for manufacturing and export-oriented industries.
Once completed, the Olokola Industrial and Free Trade Zone is expected to become one of the largest industrial ecosystems in Africa, serving as a catalyst for economic growth, technology transfer, and sustainable development in Ondo State and beyond.
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