Lee Group of Companies is targeting a gross development value of $3 billion from its proposed $1.8 billion industrial park in Ogun State as the conglomerate moves to expand its manufacturing capacity and strengthen its presence in West Africa.
The 450-hectare project, located near the Sagamu Interchange along the Lagos-Ibadan Expressway, is expected to accommodate at least 29 factories and create more than 2,500 direct and indirect jobs.
The development represents a significant proposed private-sector investment in Nigeria’s manufacturing industry, where businesses continue to contend with high energy costs, infrastructure limitations and expensive logistics.
By concentrating production facilities, warehousing and supporting infrastructure within a single industrial location, Lee Group aims to establish a manufacturing and distribution hub capable of serving domestic and regional markets.
The project is also expected to incorporate dedicated power infrastructure and other facilities required to support large-scale industrial operations.
One of the participating businesses is Aspira Products, a subsidiary of Lee Group, which plans to establish its West African regional office within the industrial park.
The development could strengthen supply chains by bringing manufacturing, storage and distribution activities closer together, potentially reducing operational delays and improving access to major commercial centres.
Its location near the Lagos-Ibadan Expressway provides access to Lagos, Nigeria’s largest commercial market, while connecting manufacturers to other parts of the country.
Ogun State has increasingly attracted manufacturing investments because of its proximity to Lagos, access to major transportation corridors and availability of land for industrial development.
The industrial park could further strengthen the state’s position as a manufacturing destination if the planned factories become operational and supporting infrastructure is delivered as proposed.
The groundbreaking ceremony is scheduled for November 12, 2026, marking the formal commencement of the development phase.
However, the projected $3 billion gross development value should not be confused with the proposed $1.8 billion investment. The former represents the anticipated value of the development, while the latter is the announced investment figure.
The actual economic impact will depend on the pace of construction, factory occupancy, infrastructure delivery and the ability of participating manufacturers to sustain commercial operations.
For Nigeria, the proposed industrial park presents an opportunity to expand local production, generate employment and support the government’s broader objective of reducing dependence on imported manufactured goods.
If successfully executed, the development could also improve the competitiveness of locally manufactured products in regional markets under the African Continental Free Trade Area.