Africa’s richest man, Dangote, plans to build Nigeria’s largest port in Ogun State, thanks to improved political support. Additionally, an $800 million cement factory project has resumed, aiding Ogun State’s cement production capacity.
The president of the Dangote Group, a prominent Nigerian conglomerate, has announced plans to establish Nigeria’s largest seaport in the Olokola Free Trade Zone, Ogun State. This decision comes after recognizing an improved political climate under Governor Dapo Abiodun. Previously, the project was set aside; however, the governor’s policies are now seen as advantageous for investment.
The president did not elaborate on the specifics of the port project. In addition to this venture, he informed that work has resumed on an $800 million cement factory situated on a 533-hectare site near Itori, Ogun State. This factory is projected to commence production by November 2026, with an annual capacity of up to 6 million tonnes.
The delays in the cement factory’s development were attributed to opposition from former governor Ibikunle Amosun, despite Ogun State already housing a 12 million tonne cement plant in Ibese. Upon completion, the Itori facility will solidify Ogun State’s position as the largest cement-producing area in Africa.
Operating across 17 sectors in industrial and agricultural domains, the Dangote Group is helmed by Africa’s wealthiest individual, as noted by Forbes, with an estimated fortune of $24 billion primarily from his controlling interest in Dangote Petroleum Refinery & Petrochemicals.
In summary, the Dangote Group is poised to create significant infrastructure in Nigeria with plans for the nation’s largest port and a new cement factory. Both initiatives are supported by favorable government policies and are expected to enhance economic activity in Ogun State, further establishing it as a key industrial region in Africa.
Original Source: www.globalconstructionreview.com
