Aliko Dangote has a new plan, and it's a big one. The billionaire businessman told Ondo State Governor Lucky Aiyedatiwa on Monday that he wants to build what he calls the biggest free trade zone in Nigeria — at Olokola in Ilaje Local Government Area.
And he's not talking about the usual kind of zone where companies just get tax breaks. Dangote said this one will come with everything investors need to start working immediately: power, water, and logistics infrastructure.
"We want to create the biggest free trade zone where investors can just come and plug in. We will generate power, provide infrastructure and remove the bottlenecks around doing business," Dangote said during the meeting in Akure.
The project covers cement production, gas infrastructure, power generation, and industrial manufacturing. Dangote described it as a "power-driven investment hub."
"We want to create the biggest free trade zone where investors can just come and plug in."
The plan tackles a problem every Nigerian manufacturer knows too well: unreliable electricity. Dangote said Nigeria's power deficit has been the country's biggest industrial constraint for more than 30 years. It's forced most manufacturers to generate their own electricity at high cost.
This zone will have dedicated energy supply built into its design. Dangote also plans to integrate gas infrastructure through an east-west gas corridor to support energy-intensive industries.
Governor Aiyedatiwa welcomed the plan, calling it a major milestone for Ondo's industrialisation agenda. He said the project fits perfectly with the state's location along the Lagos-Calabar Coastal Highway corridor.
Ondo also has a deep seaport licence, which Aiyedatiwa said can handle large vessels without needing to transfer cargo elsewhere. That's a serious logistics advantage for any industrial zone.
The governor also pointed out that the state's limestone deposits have been tested and confirmed suitable for industrial use. That signals potential for cement production expansion — Dangote's core business.
A technical committee has been set up to work with Dangote Group on legal, land, community, and operational issues. Ondo State will also nominate a representative to the project board.
Aiyedatiwa promised full government support and said the state will work closely with host communities to ensure the project runs smoothly and lasts.
If this zone becomes what Dangote is promising, it could change how manufacturing works in Nigeria — not just in Ondo, but across the region. Investors who have stayed away because of power problems might finally have a place to set up without worrying about generators and diesel costs.