Industrialist and Africa’s richest man, Aliko Dangote, has initiated formal processes to develop what could become Nigeria’s biggest and deepest seaport at Olokola in Ogun State — a bold move that signals fresh ambition in maritime logistics and natural gas export.
Speaking in an interview with Bloomberg on Monday, Dangote revealed that he submitted the required documentation for the port project in late June. The Olokola site, located roughly 100 kilometres from his refinery and fertilizer complex in Lekki, Lagos, is expected to become a hub for exporting fertilizer, petrochemicals, and liquefied natural gas (LNG), while facilitating importation of industrial 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, emphasizing the potential of the project to transform Nigeria’s underperforming port infrastructure.
The proposed Atlantic port would rival the newly operational Lekki Deep Sea Port, which was funded by Chinese investors and launched in 2023. It also marks a strategic return for Dangote to the Olokola Free Trade Zone, where earlier plans for a refinery were shelved due to local disputes — now reportedly resolved under the current administration.
In parallel, Dangote Group is also advancing plans to export LNG from Lagos, according to Devakumar Edwin, the company’s Vice President. The initiative includes a new gas pipeline linking the Niger Delta to the export terminal, with ambitions to exceed the capacity of Nigeria LNG Limited — Africa’s top LNG exporter.
“We want to do a major project to bring more gas than what NLNG is doing today,” Edwin said.
Currently, Dangote uses gas from the Niger Delta as feedstock at his fertilizer plant to produce ammonia, a core component in agricultural urea.
In a related development, the Group is set to begin distributing refined fuel to local retailers in August using a new fleet of 4,000 gas-powered trucks — a move that has sparked concerns from competitors who accuse Dangote of trying to dominate the oil sector, a charge he denies.
Valued at $27.8 billion, Aliko Dangote’s business empire already spans cement, sugar, and fertilizer production across Africa. With this latest venture, the billionaire appears poised to reshape Nigeria’s maritime and energy sectors once again.
