Africa’s richest man, Aliko Dangote, has submitted plans to develop a major deep-sea port in Olokola, Ogun State, as part of his expanding industrial empire.
The proposed Atlantic seaport, located about 100 kilometres from his Lagos-based fertiliser plant and refinery, aims to streamline exports of urea, fertilisers, and liquefied natural gas (LNG) while competing with existing facilities like the Chinese-funded Lekki Deep Sea Port.
Strategic Expansion for Exports and Logistics
Dangote’s conglomerate currently relies on an on-site jetty for urea exports and equipment imports but seeks a larger, more efficient port to handle growing operations. According to Bloomberg, the billionaire described the project as “the biggest, deepest port in Nigeria,” with construction expected to begin pending regulatory approval.
The port will enhance logistics for Dangote Industries, including plans to transport LNG via pipelines from the Niger Delta to Lagos for export. Group Vice President Devakumar Edwin revealed ambitions to surpass Nigeria LNG Ltd.—the country’s current top LNG exporter—by tapping into vast gas reserves.
Reviving Abandoned Plans Under New Leadership
The Olokola site marks a comeback for Dangote, who previously scrapped refinery and fertiliser plans there due to disputes with local authorities. Improved relations under a new administration have revived the venture, reinforcing his dominance in Nigeria’s industrial sector.
Fuel Distribution and Monopoly Concerns
In addition to port development, Dangote plans to roll out fuel distribution in August using 4,000 gas-powered trucks—a move critics allege could monopolise Nigeria’s oil market. The billionaire denies these claims, stating his goal is to “encourage other entrepreneurs” by demonstrating large-scale infrastructure potential.
With a net worth of $27.8 billion, Dangote’s latest project underscores his influence in shaping Africa’s trade and energy landscape.
