Dangote Seeks Licence To Build Largest, Deepest Seaport

Africa’s richest man, Aliko Dangote, is pursuing approval to construct Nigeria’s largest and deepest seaport in Olokola, Ogun State, Bloomberg reports.

The proposed Atlantic seaport is expected to significantly boost Dangote Group’s logistics and export capabilities, complementing its fertilizer and petrochemical operations.

To be located in Olokola, Ogun State, about 100 kilometers from Dangote’s fertilizer and petrochemical facilities in Lagos, the seaport is designed to streamline exports and support the continued expansion of Dangote’s industrial empire, particularly in fertilizer, petrochemicals, and planned liquefied natural gas (LNG) operations.

In an interview, Dangote confirmed that his group filed paperwork in late June to begin work on what he described as “the biggest, deepest port in Nigeria.”

He explained, “It’s not that we want to do everything by ourselves, but I believe this kind of investment will inspire other entrepreneurs to get involved too.”

Currently, Dangote exports fertilizer and urea through a private jetty built near the refinery, which also handles heavy equipment for ongoing operations. The new port will integrate and expand logistics and export activities, potentially rivalling major facilities in Lagos, such as the Chinese-backed Lekki Deep Sea Port, which opened in 2023.

Beyond fertilizer, Dangote plans to export LNG from Lagos, a move that will require constructing pipelines from the gas-rich Niger Delta.

“We want to do a major project to bring in more gas than what NLNG is doing today,” Dangote said, referencing Nigeria LNG Ltd., the country’s leading LNG exporter.

“We know where there is a lot of gas, so we’ll run a pipeline all the way and bring it to the shore.”

Dangote already utilises gas from the Niger Delta to power his fertilizer plant, using natural gas as feedstock for hydrogen production, a key component in ammonia and fertiliser manufacturing.

Dangote believed that such investments could transform Africa’s economic landscape, when guided by bold thinking and long-term planning.

Earlier this year, he stated that his conglomerate was on track to generate $30 billion in total revenue by next year and aims to surpass Qatar as the world’s largest exporter of urea within four years.