Africa’s richest man, Aliko Dangote, is pressing forward with an ambitious proposal to establish a deep seaport in Ogun State, aimed at bolstering exports of commodities such as liquefied natural gas.
According to a report by Bloomberg on Monday, the billionaire industrialist revealed the plans in an interview, noting that an application was filed last month to secure government approval for what is envisioned as Nigeria’s “biggest, deepest port” located in Olokola.
The Olokola Free Trade Zone was once earmarked as the initial location for Dangote’s massive refinery and petrochemical complex.
However, that plan was derailed following a deadlock with the government, prompting the group to relocate the project to the Lekki axis of Lagos.
Dangote’s new port project is expected to complement existing logistics and export infrastructure in Lagos, including the Lekki Deep Sea Port, which currently serves as the gateway for the group’s petroleum and fertiliser shipments abroad.
“It’s not that we want to do everything by ourselves, but I think doing this will encourage other entrepreneurs to come into it,” Mr Dangote told Bloomberg, underlining the broader economic impact of the initiative.
A cornerstone of the expansion is the export of LNG, a move that will require laying extensive pipelines from the gas-rich Niger Delta to Lagos.
The vision is to eclipse the operations of Nigeria LNG Limited and claim the title of Africa’s leading LNG exporter.
“We want to do a major project to bring more gas than what NLNG is doing today,” said Devakumar Edwin, a vice president at the Dangote Group.
“We know where there is a lot of gas, so run a pipeline all through and then bring it to the shore,” Edwin explained, underscoring the scope of the gas supply network under consideration.
The Dangote Group already exports fertiliser to countries such as the United States, Brazil, Mexico, and India.
Plans are also underway to build a fertiliser plant in Ethiopia, a step aimed at bolstering the East African nation’s local production capabilities.
Yet, the scale of ambition extends beyond this. The group is eyeing global dominance in urea production, with a stated goal of outpacing Qatar within the next 40 months and driving Africa towards fertiliser self-sufficiency in the same period.
Meanwhile, the group’s 650,000-barrel-per-day refinery,Africa’s largest, finally came online in 2024, following years of construction delays.
Work is also ongoing to build fuel storage tanks in Namibia, with capacity to hold no less than 1.6 million litres of petrol and diesel.
Mr Dangote has expressed intent to list the petrochemical arm of his business on the Nigerian Stock Exchange before the end of this year, with the refinery expected to follow suit in 2026.