Dangote has submitted documents to build Nigeria’s largest and deepest seaport in Olokola, Ogun State.
This move is part of his plan to grow his huge business empire and strengthen Nigeria’s maritime trade. During an interview with Bloomberg in Lagos on Monday, Dangote revealed that he filed the paperwork for the port project in late June.
The port, about 100 kilometers from his refinery and fertilizer plant in Lekki, Lagos, aims to make it easier to export products like fertilizer, petrochemicals, and natural gas. It will also improve access for importing equipment and raw materials.
Dangote explained, “We’re not trying to do everything ourselves, but I believe this will motivate others to join in.” He is hopeful that the project will draw more private money into Nigeria’s ports, which are still growing.
Right now, Dangote exports urea and fertilizer through a jetty he built on-site. That jetty handles heavy equipment needed for his refinery. If approved, the new Atlantic seaport could compete with Lagos’s current ports, including the Lekki Deep Sea Port that started operations in 2023. This port was built with Chinese funds.
The new port would also be a return to Olokola for Dangote. He once planned a big refinery and fertilizer plant there but canceled plans due to conflicts with local authorities. Those issues seem to be settled under the current government.
This news comes four months after Dangote mentioned plans to return to the Olokola Free Trade Zone in Ogun Waterside Local Government.
He also wants to export liquefied gas from Lagos. This will involve building pipelines from Nigeria’s oil region in the Niger Delta. Devakumar Edwin, a vice-president of Dangote’s group, said they aim to handle more gas than Nigeria LNG Ltd. It is a company owned by the government, Shell, Eni, and TotalEnergies, and it is Africa’s biggest LNG exporter.
Edwin added, “We want a pipeline that covers all the gas-rich areas and brings gas to the coast.”
Dangote already gets natural gas from the Niger Delta to run his fertilizer factory. The gas helps produce hydrogen for ammonia, a key ingredient for fertilizer.
He plans to start selling fuel to Nigerian shops in August. He will use a fleet of 4,000 trucks powered by gas. Some groups have criticized him for wanting to control Nigeria’s oil and gas, but he denies any such plans.
Dangote’s net worth is $27.8 billion, according to Bloomberg. His business also includes cement and sugar plants across Africa.
