Plans for the Olokola free trade zone gained momentum as President of the Dangote Group, Aliko Dangote, announced a major industrial investment project in Ondo State aimed at attracting manufacturers, creating jobs, and addressing infrastructure challenges that have long hindered industrial growth.
Dangote disclosed the proposal during a courtesy visit to Lucky Aiyedatiwa in Akure. He described the project as a power-driven industrial and free trade zone that would provide investors with critical infrastructure needed to operate efficiently. According to him, the initiative is designed to eliminate key obstacles to doing business by providing reliable electricity, water supply, logistics facilities, and other essential services within the zone.
Dangote explained that the Olokola free trade zone would differ from traditional industrial parks because it would come with integrated infrastructure already in place.
“The proposed Olokola project will go beyond a conventional free trade zone. It will be fully equipped with power, water and logistics infrastructure so investors can just come and plug in,” he said.
He added that the project would generate its own electricity and provide the facilities required to support both local and international manufacturers.
The industrialist identified Nigeria’s long-standing power challenges as one of the biggest barriers to industrial development, noting that many manufacturers currently depend on self-generated electricity to sustain operations. To support energy-intensive industries, the project is also expected to incorporate gas infrastructure through an east-west gas corridor.
Dangote recalled that previous attempts by the company to establish investments in Olokola faced operational difficulties, prompting the group to concentrate major projects in Lagos. However, he said improved conditions and stronger collaboration with the Ondo State Government had revived confidence in the project.
According to him, contractors are expected to mobilise within the next three to four months, while full-scale construction of the Olokola free trade zone is scheduled to commence in the fourth quarter of 2026. He also requested state representation on the zone’s governing board, noting that the project structure would accommodate government participation.
Governor Aiyedatiwa welcomed the investment, describing it as a significant step toward accelerating industrialisation in the state.
He said the initiative aligns with Ondo State’s strategy to become a major industrial destination in the South-West, leveraging its strategic location along the Lagos-Calabar Coastal Highway and its deep seaport licence. The governor also highlighted the state’s limestone deposits, which he said could support future industrial and cement manufacturing investments.
To facilitate implementation, the state government has constituted a technical committee to address legal, land, operational, and community-related matters. The committee is chaired by Bode Sunmonu, with Emmanuel Omomowo serving as secretary. Other members include Barr. Yinka Orokoto, Sola Adebisi, Idowu Ojo, and Engr. Femi Akarakiri.
The proposed Olokola free trade zone is expected to drive industrial expansion, attract large-scale investments, create employment opportunities, and strengthen Ondo State’s position as an emerging manufacturing hub. Construction is expected to begin later in 2026 following the completion of preparatory arrangements by the technical committee.
