Dangote to build biggest free trade zone at Olokola, Ondo

—Ondo set for industrial revolution — Aiyedatiwa

By Dayo Johnson Akure

Dangote Group President Aliko Dangote, has announced plans to construct the biggest industrial and free trade zone at Olokola, Ondo State, with construction set for Q4 2026.

He said this during a courtesy visit to Governor Lucky Aiyedatiwa in Akure, describing the project as a “power-driven investment hub” designed to attract manufacturers and eliminate infrastructure bottlenecks.

According to him ” The proposed Olokola project will go beyond a conventional free trade zone. It will be fully equipped with power, water and logistics infrastructure so investors can just come and plug in,” he said.

“We will generate power, provide infrastructure and remove the bottlenecks around doing business.”

He said the initiative directly tackles Nigeria’s 30-year power deficit, which he called the country’s biggest industrial constraint.

According to him ” Most manufacturers currently rely on self-generated electricity.

“The new model will integrate dedicated energy supply into the zone, plus gas infrastructure through an east-west gas corridor to support energy-intensive industries.

Dangote recalled that the group previously attempted Olokola investments but faced operational challenges, forcing concentration in Lagos.

He said renewed engagement reflects improved conditions and stronger collaboration with Ondo Government.

“Contractors are expected to mobilize in 3-4 months, with full construction starting Q4.

The project structure will include government participation, and Dangote requested a state representative on the zone’s board.

He said the FTZ will drive large-scale job creation and industrial expansion across Ondo and neighboring states, citing Lagos projects that delivered major employment and export revenue.

Governor Aiyedatiwa welcomed the move as a “major milestone” in Ondo’s industrialization agenda.

He said the project aligns with efforts to position the state as a South-West industrial destination, leveraging its location on the Lagos-Calabar Coastal Highway and deep seaport licence for large vessels.

He added that limestone deposits in Ondo tested suitable for industrial use, signaling cement expansion potential.

A technical committee has been set up to handle legal, land, community and operational frameworks, and the state will nominate a board representative.

The committee is chaired by Chief Bode Sunmonu, with ONDIPA CEO Emmanuel Omomowo as Secretary. Members include Barr. Yinka Orokoto, Sola Adebisi, Permanent Secretary Ministry of Finance Idowu Ojo, and Engr. Femi Akarakiri.

They will review legal, administrative and community issues under defined terms of reference.

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