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Dangote to Build New Atlantic Seaport in Ogun as Part of Expansion Drive

Africa’s richest man, Aliko Dangote, is set to launch a new phase of industrial expansion with the proposed construction of a deep-sea port in Olokola, Ogun State. According to a Bloomberg report released Monday, the seaport is intended to streamline exports from his sprawling industrial empire, including liquefied natural gas (LNG), fertilizer, and petrochemical products.

The planned Atlantic port—located approximately 100 kilometers from Dangote’s massive refinery and fertilizer complex in Lagos—is expected to compete with major facilities in Lagos, such as the Chinese-backed Lekki Deep Sea Port, which opened in 2023.

“It’s not that we want to do everything by ourselves, but I think doing this will encourage other entrepreneurs to come into it,” Dangote was quoted as saying in an interview in Lagos.

A Strategic Shift Back to Olokola
The move also marks Dangote’s return to the Olokola Free Trade Zone, a site where he had previously shelved refinery plans due to disputes with local authorities. Those issues have since been resolved under a new state administration, paving the way for renewed investment.

Dangote Group has already submitted the formal application for the port project as of late June.

Currently, exports from Dangote’s fertilizer plant are routed through a private jetty built on-site, which also handles inbound shipments of heavy equipment for the refinery. However, the new seaport will serve as a dedicated logistics and export hub, enabling higher export volumes and offering strategic advantages over existing infrastructure in Lagos.

Ambitious LNG Export Plans
In addition to fertilizer and refined products, Dangote plans to export liquefied natural gas (LNG) from Lagos. This includes the construction of new pipelines connecting the Niger Delta gas fields to the coast.

“We want to do a major project to bring more gas than what NLNG is doing today,” said Devakumar Edwin, Vice President of the Dangote Group, referring to Nigeria LNG Ltd., the government-backed venture co-owned by Shell, Eni, and TotalEnergies.

He added that the Group is identifying major gas reserves and intends to run a pipeline network to transport gas directly to the shore for processing and export.

Fuel Distribution and Criticisms
Meanwhile, the billionaire is also preparing to commence fuel distribution to Nigerian retailers in August via a fleet of 4,000 gas-powered trucks. While some have raised concerns about market dominance and monopolistic tendencies, the Dangote Group has dismissed such claims, asserting its commitment to competition and efficiency.

Dangote’s Expanding Empire
With a current net worth of $27.8 billion, as reported by the Bloomberg Billionaires Index, Aliko Dangote is not only Africa’s wealthiest individual but also a key industrial player across the continent. His businesses span cement, fertilizer, sugar, and now energy and logistics, with the new port expected to further cement his role as a dominant force in Nigeria’s economic transformation.

By Haruna Yakubu Haruna