President Bola Ahmed Tinubu has assured domestic and foreign investors of the Federal Government’s commitment to regulatory clarity, policy stability and a predictable business environment as Ogun State and global ports operator DP World move to develop the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone.
President Tinubu gave the assurance in Paris, France, during the signing of the Memoranda of Understanding between the Ogun State Government and DP World.
The agreements, according to the President, represent a major step towards expanding Nigeria’s maritime infrastructure, attracting foreign direct investment and strengthening the country’s position as a regional hub for trade, logistics, manufacturing and exports.
Ogun State Governor Dapo Abiodun led the state delegation to the ceremony, which included Secretary to the State Government Tokunbo Talabi and commissioners responsible for finance, works, industry, trade and investment, and transport, as well as a representative of the host community.
Also present were the Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France, Emmanuel Ayodele Oke; Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho; DP World Group Chief Executive Officer, Yuvraj Narayan; Managing Director of SkyKapital, Karim Noujaim; and DP World’s Senior Vice President for Business Development, Sub-Saharan Africa, Mohammed Rashid Ismail.
“The agreements before us bring together vision, expertise, capital and execution capacity,” Tinubu said, welcoming DP World and acknowledging SkyKapital, investors and other partners involved in the projects.
He assured investors that the Federal Government would provide the regulatory and institutional support required to move the projects from agreements to implementation, while ensuring that all parties are held accountable for their commitments.
The proposed Gateway Deep Seaport at Ogun Waterside is planned with a four-kilometre berth and an 18-metre draft, infrastructure expected to accommodate larger vessels and provide an alternative gateway for cargo currently concentrated around the Lagos port corridor.
The project is also expected to help ease pressure on the Apapa and Tin Can Island ports, reduce logistics costs and delays, and strengthen Nigeria’s capacity to participate more competitively in regional and international trade.
The proposed Ogun State Blue Marine Special Economic Zone, covering about 10,000 hectares, is designed to complement the port by providing an industrial and manufacturing base where imported inputs can be transformed into finished products and Nigerian raw materials processed for export.
Tinubu disclosed that the agreements envisage an initial investment of more than $7 billion, with the projects projected to create more than 50,000 direct jobs, alongside additional indirect employment and non-oil export opportunities.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action,” the President said.
He commended Governor Abiodun and the Ogun State Government for securing the land, structuring the investment framework and reducing project risks for investors.
Tinubu described the development as an example of cooperative federalism, with the Federal Government supporting subnational initiatives capable of expanding national economic capacity.
He pledged federal support for road, rail and power connectivity, investment security and maritime security, while promising to remove unnecessary bureaucratic obstacles.
The President said the Blue Marine Special Economic Zone had already attracted interest from major global manufacturing and industrial companies, stressing that its success would depend heavily on the availability of efficient port infrastructure.
“The Gateway Deep Seaport is the critical infrastructure that will support the zone’s viability. A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” he said.
Tinubu also linked the projects to the Federal Government’s broader strategy for developing Nigeria’s maritime economy and reducing dependence on oil revenues.
He said Nigeria’s strategic position in West African trade had been constrained by port congestion, inadequate draft capacity and logistics bottlenecks, adding that the proposed projects were designed to address those challenges.
The President further identified the Lagos–Calabar Coastal Highway as critical to the commercial viability of the emerging industrial and maritime corridor.
According to him, the 28-kilometre Ogun section of the 700-kilometre coastal highway is scheduled for completion before the end of the year and will provide an important transport connection between the proposed port, the economic zone, Lagos and the Nigerian hinterland.
He added that the projects would also support a broader strategic corridor around the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, linking the industrial cluster to Nigeria’s energy and gas-export ambitions.
“These projects will also anchor a broader strategic corridor near the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, connecting this industrial cluster to our energy and gas-export ambitions,” Tinubu said.
The President urged the Ogun State Government, DP World and other investors to sustain the momentum generated by the agreements and proceed with implementation, while assuring that the Federal Government would continue to facilitate investments that create economic value within the framework of Nigerian law.
