President Bola Ahmed Tinubu has assured local and international investors of regulatory stability as Ogun State and global ports operator DP World signed agreements for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone.
The agreements were signed in Paris, France, with the projects expected to attract an initial investment of more than $7 billion and create over 50,000 direct jobs when fully developed.
Tinubu, who witnessed the signing, said the Federal Government would provide the regulatory and institutional support required to move the projects from agreements to implementation.
He said government would ensure greater policy predictability, investment security and improved coordination between federal and state authorities to reduce obstacles to long-term investments.
“The agreements before us bring together vision, expertise, capital and execution capacity,” Tinubu said, welcoming DP World as the strategic partner for the projects.
The proposed Gateway Deep Seaport, to be located in Ogun Waterside, will feature a four-kilometre berth and an 18-metre draft. The facility is expected to accommodate larger vessels while helping to reduce pressure on the Apapa and Tin Can Island ports and decongest the Lagos port corridor.
The port will be integrated with the proposed 10,000-hectare Ogun State Blue Marine Special Economic Zone, which is designed to attract manufacturing, processing, logistics and export-oriented businesses.
Tinubu said the combination of the port and economic zone would provide infrastructure capable of supporting industrial production rather than merely facilitating cargo movement.
“A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” he said.
According to the President, the projects are expected to generate substantial non-oil export earnings by linking Nigerian raw materials, manufacturing and logistics to international markets.
He said the development would also strengthen Nigeria’s position as a maritime and logistics hub for the African Continental Free Trade Area, potentially providing businesses with access to markets across the continent.
The President linked the success of the project to the development of supporting infrastructure, particularly transportation and power.
He said the Federal Government would facilitate road, rail and power connectivity while strengthening maritime security and removing unnecessary bureaucratic bottlenecks.
Tinubu also identified the Lagos-Calabar Coastal Highway as an important component of the emerging industrial and maritime corridor. He said the 28-kilometre Ogun section of the highway was scheduled for completion before the end of 2026.
The President said the proposed port and economic zone would form part of a wider strategic corridor connecting industrial, maritime and energy projects, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.
Governor Dapo Abiodun led the Ogun State delegation at the Paris ceremony. Other officials present included Secretary to the State Government Tokunbo Talabi, several state commissioners, Minister of Marine and Blue Economy Adegboyega Oyetola and Nigerian Ports Authority Managing Director Abubakar Dantsoho.
DP World was represented by its Group Chief Executive Officer, Yuvraj Narayan, while SkyKapital’s Managing Director, Karim Noujaim, and other investors and partners also attended.
Tinubu commended the Ogun State Government for securing the land and structuring the investment framework, describing the arrangement as an example of cooperation between the Federal Government and a subnational government.
He urged Ogun State and the investors to maintain the momentum created by the signing and move quickly towards implementation.
The projects, if implemented as outlined, would add new deep-water capacity to Nigeria’s maritime infrastructure while creating an integrated industrial corridor aimed at manufacturing, logistics and exports.
