Africa’s richest man, Alhaji Aliko Dangote, has applied to the Nigerian government to begin construction of a new Atlantic seaport in Olokola, Ogun State. The proposed port is expected to support the export of goods like fertiliser, urea, and liquefied natural gas (LNG), as well as help in strengthening the industrial and export operations of his business empire.
According to a report by Bloomberg News, the application was submitted at the end of June 2025. The seaport project is part of Dangote Group’s strategy to expand its logistics and shipping capabilities while also supporting Nigeria’s push to increase non-oil exports and improve economic diversification.
The new port is to be located about 100 kilometres from the Dangote Fertiliser and Petrochemical plants in Ibeju-Lekki, Lagos. The Olokola site is not new to Dangote’s vision. He had earlier planned to build his massive refinery and fertiliser plant there but later moved to Lagos due to disagreements with the Ogun State government at the time. However, with fresh agreements under the current administration, the businessman is now returning to that location.
Dangote’s move comes at a time when Nigeria’s seaport infrastructure is facing pressure from increasing trade volumes and limited capacity. The Olokola Atlantic seaport, if approved and completed, will become one of the biggest and deepest seaports in the country. It will also compete with the Chinese-backed Lekki Deep Sea Port which opened in Lagos in 2023.
Speaking on the development, Mr. Devakumar Edwin, Group Executive Director of Strategy, Capital Projects, and Portfolio Development at Dangote Group, said the company also plans to use the new port for exporting liquefied natural gas. He disclosed that a major gas pipeline will be constructed from the oil-rich Niger Delta region to Lagos, linking the new port to LNG supply sources.
“We are planning a large-scale gas project, even bigger than what the Nigeria LNG (NLNG) plant is currently doing,” Mr. Edwin revealed. Nigeria LNG is jointly owned by the Federal Government, Shell Plc, Eni SpA, and TotalEnergies SE and is currently the largest exporter of LNG on the continent.
Edwin added that the Dangote Group is already sourcing natural gas from the Niger Delta to power its fertiliser plant, where it is used as a key feedstock in producing ammonia — a critical input in urea fertiliser production. With a dedicated pipeline, the company hopes to scale this effort and become a major LNG exporter as well.
Aliko Dangote explained in the Bloomberg interview that building the new port is not just about expanding his own company’s operations but about inspiring other Nigerian entrepreneurs. “It’s not that we want to do everything by ourselves,” he said, “but I think doing this will encourage other entrepreneurs to come into it.”
Meanwhile, Dangote has also revealed plans to begin nationwide fuel distribution in Nigeria by August 2025 using a fleet of over 4,000 gas-powered trucks. This is part of the company’s integrated logistics strategy. However, this development has drawn criticism from some stakeholders who accuse the billionaire of trying to control the entire oil and gas value chain. Dangote has dismissed such claims, saying his investment is aimed at helping the country achieve energy security and create jobs.
The Olokola port project, if approved, will be a major infrastructure milestone for Nigeria and West Africa. It will improve cargo movement, reduce congestion in existing ports in Lagos, and enable faster export of goods from the Dangote industrial zones.
Dangote, who is currently worth about $27.8 billion according to Bloomberg Billionaires Index, also owns leading businesses in cement, sugar, salt, and other manufacturing sectors across Africa. His business empire continues to grow with new investments in power, logistics, petrochemicals, and energy.
As Nigeria seeks to boost its economic growth through industrialisation, job creation, and infrastructure development, the proposed Olokola port may become a key player in transforming Nigeria into a major trade hub in Africa.
