Aliko Dangote to establish biggest free trade zone in Ondo
Aliko Dangote, President of the Dangote Group, has announced plans to establish a large-scale industrial and free trade zone in Olokola, Ondo State, aimed at attracting investors and boosting industrial development.
Dangote disclosed the initiative on Monday during a courtesy visit to Ondo State Governor, Lucky Aiyedatiwa, in Akure.
According to him, the proposed Olokola industrial zone will be designed to eliminate common challenges faced by businesses by providing critical infrastructure, including electricity, water supply and logistics services.
He explained that the project is intended to function as a fully serviced industrial hub where investors can begin operations without the burden of building basic infrastructure.
“We want to create the biggest free trade zone where investors can simply plug in and operate. We will provide power and infrastructure while removing bottlenecks that hinder ease of doing business,” Dangote said.
The billionaire industrialist identified inadequate power supply as one of Nigeria’s biggest obstacles to industrial growth over the past three decades, noting that the new project would include a dedicated energy system to support businesses operating within the zone.
He further revealed plans to integrate gas infrastructure through an east-west gas corridor to meet the energy demands of industries in the area.
Dangote recalled that previous efforts to invest in Olokola faced operational difficulties, prompting the company to shift major projects to Lagos.
He disclosed 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 last quarter of the year.
The businessman also proposed government participation in the project, requesting the nomination of a representative from the Ondo State Government to serve on the board of the industrial zone to enhance coordination and implementation.
According to Dangote, the project is expected to drive industrial expansion, create thousands of jobs and stimulate economic activities in Ondo State and neighbouring regions.
He added that similar investments undertaken by the Dangote Group in Lagos have generated significant employment opportunities and export revenues.
