Africa’s richest man and President/Chief Executive of the Dangote Group, Aliko Dangote, has initiated steps to develop what he describes as Nigeria’s “biggest and deepest” seaport in Olokola, Ogun State—signaling a bold new chapter in the expansion of his multibillion-dollar industrial empire.
Speaking in an interview with Bloomberg on Monday in Lagos, Dangote revealed that he submitted the necessary documentation for the project in late June. The seaport, to be situated approximately 100 kilometers from his Lekki-based refinery and fertilizer complex, is envisioned to bolster Nigeria’s maritime logistics and significantly ease the export of fertilizers, petrochemicals, and liquefied natural gas (LNG), while streamlining the importation of heavy equipment and raw materials.
“It’s not that we want to do everything by ourselves, but I think doing this will encourage other entrepreneurs to come into it,” Dangote said, expressing hope that the project will spur greater private sector involvement in the country’s underdeveloped port infrastructure.
The proposed Atlantic seaport will rival existing ports in Lagos, including the Chinese-funded Lekki Deep Sea Port, which began operations in 2023. It also marks a strategic return for Dangote to the Olokola Free Trade Zone, located in the Ogun Waterside Local Government Area. Plans to establish a refinery and fertilizer plant at the same site were shelved years ago following disagreements with local authorities—disputes that now appear to have been resolved under the current administration.
This latest move aligns with the Dangote Group’s growing push into logistics, gas infrastructure, and downstream petroleum. According to the Group’s Vice President, Devakumar Edwin, the company is also working on an ambitious project to export LNG from Lagos by constructing pipelines from the gas-rich Niger Delta.
“We want to do a major project to bring more gas than what NLNG is doing today,” Edwin said, referring to Nigeria LNG Ltd.—the continent’s leading LNG exporter, jointly owned by the Nigerian government and global energy giants Shell, Eni, and TotalEnergies. “We know where there is a lot of gas, so run a pipeline all through and then bring it to the shore.”
Dangote already sources gas from the Niger Delta for his fertilizer plant, using it as feedstock to produce hydrogen for ammonia—an essential component in crop nutrient production.
In another significant development, Dangote also plans to begin fuel distribution to retailers across Nigeria from August, deploying a fleet of 4,000 gas-powered trucks. While the move has faced criticism from some quarters over concerns of market dominance, Dangote has rejected claims of attempting to monopolize the oil sector.
With a net worth of $27.8 billion, according to the Bloomberg Billionaires Index, Dangote’s business interests span across cement, sugar, fertilizers, and oil refining—making him a pivotal figure in Africa’s industrial and economic transformation.
If approved and executed, the Olokola Deep Seaport could redefine Nigeria’s maritime landscape, opening new gateways for trade and reinforcing Dangote’s legacy as one of the continent’s most ambitious industrialists.
