Richest man in Africa, Aliko Dangote, is set to develop Nigeria’s biggest and deepest seaport in Olokola, Ogun State. The proposed port will serve as a major export hub for his growing industrial empire, especially in fertilizer, petrochemicals, and potentially liquefied natural gas (LNG).
Speaking with Bloomberg, Dangote revealed that he submitted the necessary documents for approval in late June. The new Atlantic seaport will be located about 100km from his massive fertilizer and refinery plants in Lagos. Currently, the company uses a private jetty for exports and equipment delivery.
The Olokola seaport, once completed, will rival the Chinese-funded Lekki Deep Sea Port, which began operations in 2023. It will also strengthen logistics and export operations for the Dangote Group, linking its industrial base more efficiently to global markets.
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“It’s not that we want to do everything by ourselves, but doing this could encourage other entrepreneurs to follow,” Dangote said.
This project marks Dangote’s return to Olokola, where he previously scrapped plans to build a refinery due to clashes with local authorities. Those issues, he said, have now been resolved under a new state administration.
In addition to the seaport, Dangote plans to export LNG by constructing a pipeline from the gas-rich Niger Delta to Lagos. “We want to do a major project to bring in more gas than what NLNG is doing today,” said Devakumar Edwin, vice president of the Dangote Group.
The Group already sources gas from the Delta to power its fertilizer plant and intends to begin distributing fuel nationwide by August using 4,000 gas-powered trucks.
Dangote, worth $27.8 billion, also owns Africa’s largest cement producer and has investments in sugar, salt, and other sectors.
