In what is being described as a major boost for Nigeria’s industrialisation drive, President of the Dangote Group, Alhaji Aliko Dangote, has unveiled plans to develop what could become the largest industrial and free trade zone in the country at Olokola in Ondo State.
The landmark investment, expected to transform the economic landscape of the state and the wider Southwest region, is scheduled to commence in the last quarter of 2026 and is projected to attract billions of naira in private-sector investments across multiple industries.
The proposed industrial city will feature dedicated infrastructure, including independent power generation facilities, water supply systems, gas distribution networks, transportation corridors and logistics services designed to support large-scale manufacturing and industrial operations.
Industry observers say the project has the potential to emerge as one of the most significant industrial developments in Nigeria since the establishment of major free trade zones in Lagos and other parts of the country.
According to Dangote, the Olokola Industrial and Free Trade Zone is being conceived as a world-class industrial ecosystem capable of attracting both local and international investors seeking a conducive environment for manufacturing and export-oriented businesses.
The project aims to address some of the biggest challenges facing industries in Nigeria, particularly inadequate infrastructure, unstable power supply, high logistics costs and limited access to industrial utilities.
By providing dedicated infrastructure within the zone, investors will be able to operate more efficiently and competitively, significantly reducing the cost of doing business.
The development is also expected to strengthen Nigeria’s industrial value chains while enhancing the country’s attractiveness as a destination for manufacturing investments.
Beyond the establishment of the free trade zone itself, the Dangote Group plans to make substantial investments in strategic sectors that will support industrial growth within the corridor.
These include power generation projects designed to ensure uninterrupted electricity supply, expanded gas infrastructure to support industrial operations, and cement production facilities that will contribute to construction and infrastructure development across the region.
Analysts believe the integrated approach reflects a broader vision of creating a self-sustaining industrial ecosystem capable of supporting manufacturing, processing, exports and job creation on a large scale.
The combination of energy, logistics and industrial production facilities is expected to provide investors with a level of operational efficiency rarely available in many parts of the country.
Ondo State Governor, Hon. Lucky Orimisan Aiyedatiwa, welcomed the announcement, describing the proposed investment as a historic opportunity capable of accelerating the state’s economic transformation and unlocking new opportunities for residents.
The governor noted that the project aligns with the administration’s vision of positioning Ondo as a leading destination for investment, industrial development and job creation.
According to him, the state government is fully committed to providing the enabling environment required for the successful implementation of the project.
To facilitate smooth execution, the government has already established a technical committee that will work closely with the Dangote Group on planning, coordination and implementation.
Economic experts project that the development could create thousands of direct and indirect jobs during both the construction and operational phases.
The project is also expected to stimulate growth in sectors such as construction, transportation, hospitality, commerce, agriculture, energy and professional services.
Small and medium-scale enterprises are likely to benefit from increased economic activity, while local communities could experience significant improvements in infrastructure and commercial opportunities.
Beyond employment, the free trade zone is expected to generate substantial revenue for government through taxes, exports and industrial activities while strengthening Ondo State’s position in Nigeria’s economic landscape.
The announcement has also reignited discussions about the long-term potential of the Olokola axis, which has for years been viewed as one of Nigeria’s most strategic locations for industrial and maritime development due to its coastal advantages and proximity to major commercial centres.
Stakeholders believe the Dangote Group’s entry into the area could serve as a catalyst for attracting additional investors and reviving broader plans for industrial expansion within the corridor.
For many observers, the project represents more than a single investment—it signals growing confidence in Ondo State’s economic potential and reinforces the state’s ambition to become a major centre for manufacturing, trade and industrial development.
As preparations begin ahead of the projected groundbreaking in late 2026, expectations are mounting that the Olokola Industrial and Free Trade Zone could become a defining project in Nigeria’s industrial future and a cornerstone of economic growth in the Southwest region.
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