Dangote initiates plans for Nigeria’s largest deep seaport in Ogun State

President and Chief Executive of the Dangote Group, Aliko Dangote, has begun the process to establish what he describes as Nigeria’s largest and deepest seaport at Olokola in Ogun State.

This is a move poised to significantly expand his industrial empire and reinforce Nigeria’s maritime infrastructure.

In an exclusive interview with Bloomberg in Lagos on Monday, Dangote revealed that he submitted the requisite documentation for the seaport project in late June. The proposed port will be situated approximately 100 kilometres from the Dangote refinery and fertilizer complex in Lekki, Lagos.

Designed to facilitate the export of products such as fertilizer, petrochemicals, and liquefied natural gas (LNG), the Olokola port is also expected to improve the importation of heavy equipment and raw materials critical to the company’s operations.

“It’s not that we want to do everything by ourselves, but I think doing this will encourage other entrepreneurs to come into it,” Dangote said, expressing confidence that the initiative will catalyze private investment in Nigeria’s underdeveloped port infrastructure.

Currently, the Dangote Group uses a self-constructed jetty for urea and fertilizer exports and to receive large equipment for its operations. The new Atlantic-facing deep-sea port, if approved, will compete with existing ports in Lagos, including the recently commissioned Lekki Deep Sea Port, a $1.5 billion facility developed with Chinese funding that began operations in 2023.

The development also marks a strategic return to the Olokola Free Trade Zone for Dangote, who had previously abandoned plans to site his refinery and fertilizer plant there due to disagreements with local authorities. Those disputes appear to have been resolved under the current administration, enabling a revival of his ambitions for the zone located in Ogun Waterside Local Government Area.

In a related development, the Vice President of the Dangote Group, Devakumar Edwin, disclosed that the company plans to commence LNG exports from Lagos, with an ambitious pipeline project that will transport natural gas from Nigeria’s oil-rich Niger Delta.

“We want to do a major project to bring more gas than what NLNG is doing today,” Edwin said, referencing Nigeria LNG Ltd., the continent’s largest LNG exporter, a joint venture between the Nigerian government and international energy firms Shell, Eni, and TotalEnergies.

According to Edwin, Dangote Group intends to lay extensive pipelines to deliver natural gas to coastal facilities for conversion and export. The company already uses gas sourced from the Niger Delta to fuel its fertilizer plant, which relies on hydrogen for ammonia production, a key ingredient in crop nutrients.

In a further expansion of its downstream operations, Dangote also plans to begin distributing fuel to Nigerian retailers from August using a fleet of 4,000 gas-powered trucks. While some critics have raised concerns about potential monopolistic tendencies, Dangote has consistently denied such claims.

With an estimated net worth of $27.8 billion, according to the Bloomberg Billionaires Index, Dangote remains Africa’s richest man and a dominant figure in the continent’s industrial and manufacturing landscape. In addition to his refining, fertilizer, and logistics ventures, his business portfolio includes extensive cement and sugar manufacturing operations across Africa.

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