Dangote to build Nigeria's largest seaport following refinery success that nearly doubled his wealth

Fresh off the launch of his multi-billion-dollar Lagos refinery, Africa’s richest man, Aliko Dangote, is setting his sights on a new mega project—a deep seaport in Ogun State.

Speaking with Bloomberg, Dangote revealed that he has applied for approval to begin construction on the proposed Atlantic seaport in Olokola, a coastal area in Ogun. The plan, he said, is to ease the export of key industrial products, including liquefied natural gas (LNG), and further expand the footprint of his business empire.

According to him, the goal is to “build the biggest, deepest port in Nigeria.”

“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 said.

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The port marks a return to a location where Dangote previously pulled the plug on plans to build a refinery and fertiliser plant after disagreements with previous administrations. But now, he's back, and he credits Ogun Governor Dapo Abiodun for making the state attractive again.

“I’m back because of His Excellency, our governor, Prince Dapo Abiodun,” he said in an earlier comment.

Dangote’s team is also looking to ramp up gas exports from Nigeria. Devakumar Edwin, Vice-President of the Dangote Group, said the company is working on a project to transport gas from the Niger Delta to the coast via new pipelines.

“We want to do a major project to bring more gas than what Nigeria LNG is doing today,” Edwin said.

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This is just one part of Dangote Industries Limited’s massive expansion strategy. In May, Dangote said his fertiliser business is aiming to generate $7 million in daily revenue within the next two years. A month later, the company announced nationwide distribution of petrol and diesel would begin August 15.

To support the rollout, Dangote has acquired 4,000 new CNG-powered tankers for transporting fuel across the country.

By 2028, Dangote says Africa will be fully self-sufficient in fertiliser, thanks to his production capacity.

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