It cannot but be cheering news that Dangote is investing a whopping $700 million in Ogun State in different areas of business, including building the largest seaport in Africa at Olokola. Speaking during an inspection tour of the Itori cement plant, the business mogul enthused: “We earlier on abandoned our vision of investing in the Olokola Free Trade Zone (OKFTZ), but because of your policies and investor-friendly environment, I want to say we are back and are going to work with the state government and return to Olokola and plans are underway to construct the largest port in the country.”
Phenomenal things happened in Ogun State this week. Fresh from inspecting 11 road projects targeted at opening up Ogun East for business last weekend, Governor Dapo Abiodun received Africa’s wealthiest man and president of the Dangote Group, Alhaji Aliko Dangote, on his investments-laden return to the Gateway State. Dangote, fired up by the governor’s investor-friendly disposition and policies focused on business, could not help luxuriating in his return to the state after crass politicking forced him out, and Ogun State lost the 650-000-barrels-per-day, $20 billion refinery currently nestled in Ibeju-Lekki, Lagos. Hear the business mogul, speaking at the Oke Mosan Government House: “Our factory at Itori was pulled down twice. When we started the second time, they not only demolished the factory but also the fence, so we left. But right now, because of His Excellency, our governor, Prince Dapo Abiodun, we are back. When you visit the factory, you will be surprised at what we have done.” His gratitude was heartfelt: “I would especially like to commend, in a special way, my good friend and brother, His Excellency, the governor of Ogun State, for his vision and deliberate policies that focus on attracting enterprises through immense support for the private sector, which is now attracting investors.”
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Dangote wasn’t being flippant. When he conceived the world’s biggest refinery now located in Lagos State, his mind was on the Olokola Free Trade Zone, the natural location of such facility. When the news broke, the excitement among the Ogun citizenry was palpable. Apart from generating thousands of jobs, the refinery would attract big business, massive housing development and other perks to the zone and further solidify Ogun State’s status as Nigeria’s industrial capital. Alas, allegedly for reasons of pecuniary gain, the government led by the same individual whose failure recently led to international embarrassment for Nigeria through the seizure of presidential jets, aborted that epic move that would have made Ogun the envy of other states. It would have been bad enough if that was all it did, but as Dangote himself said, “Our factory at Itori was pulled down twice.” The man took to his heels with his rich portfolio of intended investments! Who wouldn’t? In a country where the likes of former Governor Segun Oni literally forced legal luminary, Afe Babalola, to locate his university, now frequently rated as Nigeria’s best, to Ekiti from the original Ibadan proposed site, the government of Ogun State chose to abort a multibillion dollar investment!
All of that, thankfully, is history, as insane belligerence, perfidy and arrogance no longer have any place in Oke Mosan; it is completely gone with the stench of the investment-killing government. Ogun State, Nigeria’s top investment destination after Lagos, is on the brink of an industrial revolution as Africa’sforemost industrialist revives investments in Olokola and targets the expansion of cement production in Itori and Ibeshe.
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The good news for Olokola? It will now host Nigeria’s largest deep seaport, a project expected to position Ogun as the leading gateway for trade and commerce in West Africa. In addition, the Dangote Group is expanding its cement production to 18 million metric tons annually across his plants in Itori and Ibeshe. According to the billionaire business mogul, this has been made possible through Governor Abiodun’s investor-friendly policies, which have provided a stable and supportive environment for businesses to thrive. Hear him: “We had earlier abandoned our vision of investing in the Olokola Free Trade Zone (OKFTZ), but because of your policies and investor-friendly environment, I want to say we are back and will work with the state government to return to Olokola, and plans are underway to construct the largest port in the country.”
Speaking on the occasion, Governor Abiodun said, “The day the Dangote Refinery groundbreaking was performed in Lagos was a day of heartbreak for the sons and daughters of Ogun State as they watched helplessly on television. But today, history is being rewritten as Dangote returns to Olokola and Itori with groundbreaking investments.” Here’s the deal: with the Itori plant producing six million metric tonnes annually and the Ibeshe plant producing 12 million metric tonnes, Ogun will become the largest cement producer in sub-Saharan Africa. That is not all: the planned seaport at Olokola will enhance the state’s logistics and export potential, cementing its status as the industrial and commercial capital of Nigeria.
Enter the 100-kilometre Sagamu-Papalanto-Iro-Ilaro-Obelle road in Ewekoro Local Government. Originally designed to be an asphalt-paved road, the road facilitated through a tax credit scheme was turned into a concrete road by Dangote. Inspecting the level of work done on the road alongside the president of the Dangote Group, Governor Abiodun appealed to the businessman and the contractor handling the construction of the road to expedite action on it and ensure that it is 70 per cent completed by the end of this year. The idea is that by the first quarter of 2026, it will be fully completed, opening up the corridor for big business. The road which connects Ogun West Senatorial district to the East Senatorial District of the State as well as Lagos-Ibadan expressway, will further bring great benefits to Ota and Agbara Industrial estates. When completed, Governor Abiodun said, the road would compete with the Sagamu-Abeokuta expressway in terms of industrial and economic growth. Besides, he added, the availability of gas in the Sagamu-Papalanto-Iro-Ilaro-Obelle axis would also play a major role in making the corridor an option for many investors around the world. His words: “We are here again on the Sagamu-Papalanto-Ilaro-Obelle road. This road is a 100 kilometre road and we are hoping that by the end of this year, it should be near completion. You can see that this corridor is not developed now, but by the time the road is completed, it will compete with the Sagamu-Abeokuta expressway because there is gas here with a shorter road for industries to site and distribute to the hinterland.” And Dangote went into the heart of the matter: “I don’t think you need to convince people to come and invest here in Ogun State. You know, the governor has done a great job. This road will open up the economy of the state.”
It cannot but be cheering news that Dangote is investing a whopping $700 million in Ogun State in different areas of business, including building the largest seaport in Africa at Olokola. Speaking during an inspection tour of the Itori cement plant, the business mogul enthused: “We earlier on abandoned our vision of investing in the Olokola Free Trade Zone (OKFTZ), but because of your policies and investor-friendly environment, I want to say we are back and are going to work with the state government and return to Olokola and plans are underway to construct the largest port in the country.”
That, definitely, is great news, but there’s apparently much more to come.
Kayode Akinmade sent this piece through: [email protected]
