Aliko Dangote, Africa’s richest man, has taken a significant step forward in his plans to develop a major seaport in Nigeria, a credible source has confirmed.
Back in April, the Nigerian billionaire had begun setting his sights at the goal of establishing the country’s largest private seaport in Ogun State.
He said then the goal is to ease the export of products from his massive fertilizer and petrochemical facilities as well as help support the ports in Lagos.
The proposed Atlantic seaport will be located in the Olokola area of Ogun State, about 100 kilometres from these plants.
In a recent interview in Lagos, Dangote revealed that he submitted the necessary paperwork in late June to commence what he described as “the biggest, deepest port in Nigeria.”
Although the project’s cost has not yet been disclosed, deep seaports are typically multi-billion-dollar developments requiring extensive capital and partnerships.
They also have a high potential to create thousands of jobs.
“It’s not that we want to do everything by ourselves,” Dangote said, “but I believe this kind of investment will inspire other entrepreneurs to get involved too.”
A 2022 report by the Nigerian Economic Summit Group (NESG) noted that every $1 billion invested in infrastructure creates approximately 22,000 direct and indirect jobs in Nigeria.
Why Dangote needs a seaport?
For years, Dangote has been vocal about the severe congestion at Nigeria’s two main ports in Lagos—Apapa and Tin Can—which currently serve his giant refinery and petrochemical facilities.
Inadequate road and rail infrastructure has worsened inland cargo evacuation from these ports.
As a result, Dangote Group built a private jetty in Lekki to receive heavy equipment for its 650,000 b/d refinery and fertilizer plant within the Lekki Free Trade Zone.
That facility now also handles exports of refined fuel, urea, and fertilizer.
However, as his refinery and other facilities ramp up production, more export capacity and logistical integration have become essential.
The new port is expected to support these needs and could help the group achieve its ambition to surpass Qatar as the world’s largest urea exporter within four years.
In May, Dangote partnered with Vinmar Group, a major petrochemical trader, to export polypropylene from the newly launched $2 billion petrochemical plant.
What’s behind the move?
Beyond fertilizer and petrochemical exports, Dangote has expressed plans to begin shipping liquefied natural gas (LNG) from the Lagos port in the future.
“We want to do a major project to bring in more gas than what NLNG is doing today,” Dangote said.
NLNG (Nigeria LNG) is the country’s leading LNG exporter.
It is operated as a joint venture between NNPC, Shell, Eni, and TotalEnergies, from its Bonny Island terminal in Rivers State.
“We know where there is a lot of gas, so we’ll run a pipeline all the way and bring it to the shore,” he added.
Devakumar Edwin, vice president of Dangote Group, said the project would require constructing several pipelines from the Niger Delta.
But this, he noted, is not a challenge for the group, which already sources gas from the region for its fertilizer plant.
The group targets generating $30 billion in revenue by 2026.
Dangote believes that projects like this are key to transforming Africa into “heaven” in the coming years.
But some observers say the proposed port might end up competing with existing infrastructure, particularly the Chinese-backed Lekki Deep Sea Port, which launched in 2023
