Billionaire industrialist Aliko Dangote has submitted formal plans for the development of what is projected to become Nigeria’s largest and deepest seaport, as part of a broader strategy to expand the Dangote Group’s reach into maritime infrastructure and energy exportation.
Speaking with Bloomberg in Lagos, Dangote revealed that the application for the proposed port in Olokola, Ogun State, was filed in late June. The seaport, located approximately 100 kilometres from the Dangote Refinery and fertilizer facility in Lekki, is expected to serve as a hub for exporting fertilizer, petrochemicals, and liquefied natural gas (LNG), while also supporting equipment and raw material imports.
“This isn’t just about building for ourselves, it’s about creating the environment that will attract other private players into the sector,” Dangote said, positioning the initiative as a catalyst for greater investment in Nigeria’s logistics landscape.
Currently, the group utilizes a jetty near the Lekki complex to manage fertilizer exports and heavy cargo deliveries. The proposed Olokola port is expected to compete directly with existing facilities, including the China-backed Lekki Deep Sea Port, which commenced operations in 2023.
The move also marks Dangote’s return to the Olokola Free Trade Zone, where earlier plans to establish his refinery were suspended due to disputes with local stakeholders. According to sources, those issues have since been resolved under the current administration.
Four months ago, Dangote had hinted at the company’s intention to revive its involvement in the Olokola corridor, signaling long-term strategic interest in the area.
In addition to maritime expansion, the Dangote Group is planning to enter Nigeria’s LNG export market. According to Devakumar Edwin, a vice president at the company, the plan involves laying pipelines from the gas-rich Niger Delta to Lagos, enabling large-scale gas transportation and processing for international markets.
“Our target is to deliver more gas than Nigeria LNG currently supplies,” Edwin said, referring to the country’s main LNG operator, which is jointly owned by the government and international energy firms including Shell, Eni, and TotalEnergies.
The Dangote fertilizer facility already consumes gas sourced from the Niger Delta as feedstock for ammonia, a key element in fertilizer production.
Meanwhile, the group is also preparing to launch domestic fuel distribution in August, using a fleet of 4,000 gas-powered trucks. The move has drawn criticism from some quarters, with concerns about market dominance — an allegation the company has dismissed.
Aliko Dangote, whose wealth is currently estimated at $27.8 billion by Bloomberg’s Billionaires Index, maintains business interests across cement, sugar, and now increasingly, in energy and logistics.
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