Aliko Dangote plans to construct Nigeria’s largest seaport and has resumed work on a significant cement factory in Itori, boosting the country’s cement production capacity. His investments have made Nigeria self-sufficient in cement and fertilizer, transforming it into an exporting nation.
Aliko Dangote has announced the development of Nigeria’s largest seaport at the Olokola Free Trade Zone in Ogun State. This project reveals a renewed commitment from Dangote Group amidst a supportive environment established by Governor Dapo Abiodun. Moreover, construction has resuming on their Itori cement factory, which will have a capacity of six million metric tons per annum and is anticipated to be completed by November 2026.
The Itori cement factory project, amounting to nearly $800 million, faced delays due to opposition from former Governor Ibikunle Amosun. Now, the new facility will complement the existing 12-million-metric-ton Dangote Cement Plant in Ibese, bringing Ogun State’s total cement production capacity to an impressive 18 million metric tons per annum, establishing it as Africa’s leading cement production hub.
Aliko Dangote highlighted his commitment to enhancing Nigeria’s self-sufficiency in various industries. The investments made by his company in cement and fertilizer production have eliminated import dependence and allowed Nigeria to become an exporter of both sectors. Additionally, Dangote’s refinery, capable of processing 650,000 barrels of crude oil daily, is now contributing to the export of refined products while reducing fuel costs domestically.
Overall, these initiatives not only reflect Dangote Group’s expansive growth strategy but also represent significant steps towards solidifying Nigeria’s position in the global market for cement and fertilizer while fostering economic development and job creation locally.
In summary, Aliko Dangote’s strategic developments in Nigeria, including the largest seaport and cement factory, demonstrate a robust commitment to enhancing the country’s industrial capabilities. The combined output of these projects will solidify Ogun State’s lead as Africa’s foremost cement production area. Furthermore, his investments in cement and fertilizer manufacturing not only foster self-sufficiency but also position Nigeria as an exporter, contributing positively to the national economy.
Original Source: africa.businessinsider.com
