The project, which spans more than 10,000 hectares across parts of Ogun and Ondo states, forms part of the group’s Vision 2030 strategy aimed at strengthening its position in manufacturing, logistics and export-led industrialisation.
The proposed port would be located in Ogun Waterside Local Government Area of Ogun State, extending towards Ilaje Local Government Area of Ondo State along the Atlantic coastline. Dangote Industries said the facility is intended to serve as a logistics and industrial hub for imports, exports and regional trade.
Dangote Industries, the parent company of the 650,000 barrels per day (bpd) Dangote Petroleum Refinery, as well as fertiliser and cement businesses, said the port would support exports of fertilisers, petrochemicals and refined petroleum products, while also facilitating imports of heavy industrial equipment and potentially future liquefied natural gas exports.
The Lagos refinery, which has been expanding exports of petrol, diesel and aviation fuel across African markets, is projected to double its output to 1.4mn bpd within 30 months.
“The Olokola Port project is a major step in opening up Nigeria’s economic potential, strengthening trade, reducing pressure on existing ports, and supporting industrial growth,” said MD for Infrastructure and Logistics Capt Jamil Abubakar, as quoted by The Punch.
“With its strategic location, Olokola would serve as a key gateway for exports and imports, boosting Nigeria’s competitiveness in regional and global trade,” he added.
Abubakar said the proposed facility had been designed as part of an integrated industrial and logistics ecosystem intended to strengthen regional commerce and supply chains across Africa. He added that Dangote Industries would maintain engagement with host communities throughout implementation.
Apart from creating jobs and attracting foreign direct investment and, the company said it would support Nigeria’s export diversification strategy and strengthen participation in intra-African trade under the African Continental Free Trade Area (AfCFTA).
Nigerian billionaire Aliko Dangote, president of the conglomerate, said last week he is considering Kenya as the preferred location for a proposed 650,000 bpd refinery in East Africa, shifting focus away from an earlier plan centred on Tanzania.
Meanwhile, he is targeting a valuation of around $50bn for the Dangote Petroleum Refinery ahead of a planned stock market listing later in 2026, which could sell up to a 10% stake through the Nigerian Exchange (NGX).
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