Africa’s richest man, Aliko Dangote, has submitted official papers to build what he calls the “biggest and deepest seaport in Nigeria” in Olokola, Ogun State.
Dangote confirmed the move during an interview with Bloomberg. He said the planned Atlantic seaport will boost exports and support the growth of his expanding business empire.
“This project will make it easier to export goods, including liquefied natural gas (LNG). 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 said.
The billionaire said he submitted the paperwork for the project last month and is now waiting for approval to begin construction.
This new plan marks his return to the Olokola site, where he earlier abandoned plans to build a refinery and fertilizer plant after disagreements with local authorities. Dangote revived the idea after praising Ogun State Governor Dapo Abiodun for being more open to business investments.
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Speaking in another interview, Devakumar Edwin, Vice President of Dangote Group, revealed that the company also plans to export LNG from Lagos by building pipelines from the Niger Delta.
“We want to do a major project to bring more gas than what Nigeria LNG is doing today. We know where there is a lot of gas, so we’ll run a pipeline all through and bring it to the shore,” Edwin said.
Dangote Industries has recently been expanding its reach. In May, the company announced it hopes to make $7 million in daily revenue from fertilizer sales within two years. It also said its refinery will begin distributing diesel and petrol across Nigeria starting August 15.
To make fuel delivery easier, the company has bought 4,000 new compressed natural gas (CNG)-powered tankers.
With the new port, Dangote aims to boost Nigeria’s industrial power and make the country more competitive in global trade.