The President/Chief Executive of Dangote Industries Ltd, Alhaji Aliko Dangote on Monday disclosed the readiness of the company to return to the Olokola Free Trade Zone in Ogun Waterside Local Government Area of the state for the largest seaport project in the country.
Dangote also said that his company has equally returned to site to construct a 6million metric tons per annum cement factory at Itori in Ewekoro Local Government Area of the state slated for completion by November 2026.
The billionaire industrialist regretted that the the almost $800m Itori cement factory was supposed to have been long completed and commissioned but for the opposition of ex-Govenor Ibikunle Amosun to the project.
Dangote disclosed this during his visit to the ongoing 6 million metric tons per annum cement factory at Itori.
He said, “When we started building the new cement factory at Itori, former Governor Amosun demolished it, we came back again and restarted the project but Governor Amosun also came again, demolished the factory and even the fencing, so we left.
“But because of my brother, Governor Dapo Abiodun we are back to the site and you will be surprised with the level of work ongoing there.”
Dangote said that he was in the state to update the governor on the ongoing two new lines of 6million metric tons per annum(Mta) cement plant in Itori sitting on 533 hectares of land.
He stated that the state currently host 12 million metric tons per annum Dangote Cement Plant, Ibese and that on completion of Itori cement project, the state will have a combined capacity of 18Mta,
making it the highest cement producing state or region in Africa.
Dangote equally revealed that he has decided to return the earlier abandoned Olokola FTZ for the largest port in the country due to Abiodun’s favourable disposition.
He said “We earlier on abandoned our vision of investing in the Olokola Free Trade Zone (OKFTZ), but because of Governor Dapo Abiodun’s policies and investor friendly
environment, I want to say we are back and are going to work with the government and return to Olokola and plans are underway to construct
the largest port in the country.”
Dangote said that It is on record that his investment in cement manufacturing has made Nigeria self-sufficient in the product, effectively ending importation and
marking its transformation into a cement exporting nation.
He explained, “We have also repeated the feat in production of fertilizer as Nigeria is now self-sufficient, with the surplus going for the export market thereby generating foreign exchange earnings for the country.
“We rolled out automotive gas oil(AGO) in January 2024 and Premium Motor Spirit(PMS) in September 2024 from our 650,000 barrels per day petroleum refinery located in Ibeju-Lekki. Other products from the refinery include aviation fuels, LPG, and carbon black.
“The refinery has the capacity to meet domestic
demand for all refined petroleum products. Today we have repeated the cement story, where a country that was once a net importer of a product, is now exporting refined petroleum products.”
He reiterated that the goals of Dangote Industries is to make Nigeria self-sufficient in whatever we consume since there is abundant natural resources for the domestic manufacturing of these products and commodities.
Dangote explained that key factor that drives investments in any economy is the presence of an investor-friendly business climate, lauding Gov Abiodun for his various deliberate policies which has made the state one of the most attractive investment destinations in Nigeria.
Speaking at the event, Abiodun lauded Dangote for being an exemplary industrialist who remained undaunted in his determination to industrialise the country.
Abiodun hailed the industrialist for returning back to the state to construct $800m cement factory at Itori despite the needless opposition of his predecessor saying that it only further confirmed the uniqueness of Dangote and his undiluted love for Nigeria.
The governor also lauded Dangote for the ongoing construction of Sagamu Interchange to Papalanto describing the road as very critical to economic growth and prosperity of the state.
Abiodun said that his government will continue to create enabling environment to further attract investors to the state.
The governor described Dangote’s visit as historical saying that it has provided opportunity for the government to engage with the industrialist on issues bordering further economic development of the state.
