As part of efforts to expand his multibillion-dollar industrial empire, Africa’s richest person, Aliko Dangote, has begun moves to build what he described as Nigeria’s biggest and deepest seaport in Olokola, Ogun State.
In an interview with Bloomberg in Lagos on Monday, Dangote said that he submitted the necessary paperwork in late June for the seaport project.
The planned port, located about 100 kilometres from his Lekki-based refinery and fertilizer complex in Lagos, is expected to facilitate the export of goods such as fertilizer, petrochemicals, and liquefied natural gas. It also seeks to improve access for imported raw materials and equipment.
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The new port could rival major ports in Lagos, including the Chinese-backed Lekki Deep Sea Port, which opened in 2023.
“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.”
Dangote also looks to ship liquefied natural gas (LNG) from Lagos, a project that will require the construction of pipelines from the Niger Delta, said Devakumar Edwin, vice president of the Dangote Group.
“We want to do a major project to bring more gas than what NLNG is doing today,” he said, referring to Nigeria LNG Ltd., a joint venture between the government, Shell Plc, Eni SpA and TotalEnergies SE, which is currently the continent’s largest exporter of LNG.
“We know where there is a lot of gas, so run a pipeline all through and then bring it to the shore.”
Dangote already sources natural gas from the Niger Delta for his huge fertilizer plant. Dangote, also the richest Black person, has been making his money largely from Dangote Cement, one of Africa’s most successful and recognizable brands. In addition to his cement factory, Dangote is also into the production of sugar and, until recently, fertilizer and oil refinery.
Even though it delayed for some years, the Dangote Refinery started producing diesel, naphtha, and jet fuel in January last year, with petrol production also beginning in September, the Insider reported.
The refinery is designed to process 650,000 barrels of crude oil per day and this should help reduce Nigeria’s dependence on imported refined petroleum products, experts say.
Dangote’s net worth surged from $13.9 billion last year to $23.9 billion in 2025, largely due to the inclusion of the Dangote Refinery’s valuation in Forbes’ calculations.
