Africa’s richest man, Aliko Dangote, has submitted paperwork to begin construction of a deep-seaport in the Olokola Free Trade Zone in Ogun State, advancing plans to develop what is expected to be Nigeria’s largest and deepest port.
Dangote disclosed that the paperwork was submitted in late June 2025 during an interview in Lagos, according to a report by Bloomberg published on Monday, July 14.
The move represents a significant step forward in a project he first announced in March 2025, aimed at boosting exports and strengthening logistics for his expanding industrial empire.
“Africa’s richest person has applied to begin work on a seaport near his fertilizer and oil refinery plants to make it easier to export goods — including liquefied natural gas — and support the rapid growth of his industrial empire.
“Aliko Dangote’s plan “to build the biggest, deepest port in Nigeria took wings after he sent in the paperwork for permission in late June, he said in an interview in Lagos,” the Bloomberg report read in part.
The proposed Atlantic seaport, to be located in Olokola—approximately 100 kilometres from Dangote’s fertilizer and petrochemical plants in Lagos—is expected to support the export of urea, fertilizers, and eventually liquefied natural gas (LNG). It is also positioned to serve as a strategic alternative to the Lekki Deep Sea Port.
Dangote noted that although his group is leading the seaport project, the broader objective is to stimulate greater private-sector participation in national infrastructure development.
“It’s not that we want to do everything by ourselves, but I think doing this will encourage other entrepreneurs to come into it,” he told Bloomberg.
At present, the group exports fertilizer through a dedicated jetty at its Lagos complex, which also receives heavy equipment used in the refinery. The planned seaport in Olokola is expected to offer a more comprehensive and long-term solution, integrating logistics across Dangote Group’s industrial operations.
The company is also preparing to launch nationwide fuel distribution in August 2025, deploying a fleet of 4,000 gas-powered trucks. While the expansion has drawn concerns over possible market dominance, Dangote has dismissed claims that the group seeks to monopolise the downstream sector.
With an estimated net worth of $27.8 billion, according to the Bloomberg Billionaires Index, Dangote continues to strengthen his position as one of the most influential figures in Africa’s industrial and energy landscape.