​Dangote Returns to Ondo,Plans Nigeria’s Biggest Industrial Hub in Olokola

​AKURE – In a major economic breakthrough for the South-West region, the President of the Dangote Group, Alhaji Aliko Dangote, has announced plans to establish Nigeria’s largest industrial and free trade zone in the Olokola corridor of Ilaje Local Government Area, Ondo State.

​The business mogul made this disclosure following a high-profile courtesy visit to Governor Lucky Orimisan Aiyedatiwa at the Government House in Akure. The announcement marks a historic U-turn for the conglomerate, which exited the state more than a decade ago due to operational bottlenecks, leading to the redirection of its massive multi-billion dollar mega-refinery project to Lekki, Lagos State.

​A “Plug-and-Play” Hub to Cure Nigeria’s Power Deficit

​Addressing journalists after the meeting, Dangote explained that the renewed investment framework is designed to go far beyond a conventional free trade zone. The Olokola project will feature fully integrated infrastructure, specifically targeting power generation, cement production, gas infrastructure, and large-scale industrial manufacturing.

​According to Dangote, erratic electricity has remained Nigeria’s single largest industrial bottleneck for more than 30 years, forcing manufacturers to survive on expensive self-generated power. The Olokola model intends to break this cycle by integrating a dedicated energy supply grid, supported by gas infrastructure connected to a proposed east–west gas corridor.

​”We want to create the biggest free trade zone where investors can just come and plug in,” Dangote said. “We will generate power, provide water, build out the infrastructure, and completely remove the bottlenecks of doing business. An investor won’t have to worry about utility delays; they just bring their factory and connect with us.”

​While the initial proposed project at Olokola nearly two decades ago was valued at $6 billion, Dangote indicated that the scope—and capital injection—of the revived plan will be significantly higher. He emphasized that the zone will serve as a magnetic ecosystem attracting secondary investments from local and foreign manufacturers.

​Why We Came Back: Leadership and Atmosphere

​When pressed on what motivated his return to the “Sunshine State” after a prolonged absence, the billionaire industrialist explicitly credited the state’s current political leadership.

​”First of all, I think now we have a great leader in Governor Aiyedatiwa, who is an incredibly business-minded person,” Dangote remarked. “He understands the vital importance of leveraging the private sector to develop a state. His concrete actions have been highly encouraging, the atmosphere is noticeably friendlier, and that is one of the main reasons my team and I came back.”

​Economic Boom, Jobs, and Real Estate Surges

​The socio-economic implications for Ondo and its neighboring states are expected to be massive. Drawing comparisons to the construction phase of the Lekki refinery, which engaged over 67,000 workers, Dangote predicted an explosion of jobs and localized economic activity.

​Contractors are expected to mobilize to the Olokola site within the next three to four months, with heavy physical construction fully operational by the final quarter of the year.

​The industrialist also highlighted the transformative real estate potential for host communities. Recounting the expansion in Lagos where land values skyrocketed by over 1,500 percent, Dangote assured residents that the project maintains a localized housing policy. Host communities will be integrated into the ecosystem, allowing local property owners to build accommodation for the incoming workforce, ensuring that industrial salaries directly feed back into the grassroots economy.

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​Ondo State Ready for Industrial Revolution

​Responding to the development, Governor Lucky Aiyedatiwa described the Dangote Group’s return as a defining milestone for the state’s industrialization agenda.

​The Governor noted that the Olokola project lines up perfectly with the state’s geopolitical advantages, particularly its strategic location along the newly constructed Lagos-Calabar Coastal Highway corridor. Furthermore, Aiyedatiwa highlighted Ondo’s newly acquired deep seaport license, which allows the state to handle heavy maritime vessels without the logistical friction of trans-shipment.

​Governor Aiyedatiwa also used the opportunity to pitch further expansion, revealing that the state’s vast limestone deposits have been verified and tested as optimal for heavy industrial use, opening the door for the Dangote Group to scale up cement manufacturing locally.

​To prevent the administrative delays of the past, the Governor confirmed that a specialized technical committee has already been set up to oversee legal frameworks, community relations, land allocations, and stakeholder consultations. Ondo State will also nominate a representative to sit directly on the project’s board to ensure immediate alignment between the public and private sectors.

​”We have been waiting for this moment,” Governor Aiyedatiwa stated. “With reliable power generation, available land, a deep seaport, and total government backing, this will be an absolute game-changer for Ondo State and the entire West African region.”