The Ogun State Government and DP World MEA FZE have signed Memoranda of Understanding (MoUs) for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone, with the projects expected to attract more than $7 billion in initial investment.
The projects are also projected to create over 50,000 direct jobs, as President Bola Ahmed Tinubu witnessed the signing ceremony in Paris, France, alongside the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Director-General of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho.
The agreements bring together the Federal Government, Ogun State Government, DP World, financial advisers and other private-sector partners in an investment framework designed to ease trade bottlenecks, strengthen logistics and expand Nigeria’s manufacturing and export capacity.
Tinubu said the projects would address longstanding infrastructure and logistics constraints while creating an integrated platform for industrial production, maritime commerce and access to African and global markets.
He said the special economic zone would enable imported inputs to be converted into finished products while Nigerian raw materials could be processed for export, thereby supporting the expansion of the country’s non-oil export base.
“We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development.
“A port moves cargo; a port integrated with a special economic zone helps to build an economy,” the President said.
The Gateway Deep Sea Port, planned for Ogun Waterside, will feature a four-kilometre berth and an 18-metre draft, positioning it to accommodate larger vessels while helping to decongest the Lagos port corridor and reduce costs and delays for importers and exporters.
The port will be integrated with the proposed 10,000-hectare Blue Marine Special Economic Zone, which is expected to support manufacturing, processing and export-oriented industries.
Tinubu said the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway would provide a critical link between the port, industrial zone, Lagos, the Nigerian hinterland and wider African markets.
He added that the emerging corridor would connect with other strategic investments, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, strengthening the relationship between maritime infrastructure, industry, energy and trade.
The President said the projects represented an initial investment of more than $7 billion and were projected to generate over 50,000 direct jobs, alongside additional indirect employment opportunities.
He described the investment as a practical expression of economic diversification and industrialisation under the Renewed Hope Agenda.
Tinubu commended Ogun State Governor, Dapo Abiodun, for securing the land, structuring the investment framework and reducing project risks for investors.
He described the development as an example of cooperative federalism, with subnational initiative receiving federal support.
The President assured investors of regulatory clarity and policy stability, pledging federal support for road, rail and power connectivity, investment security and the maritime sector.
He also said the Federal Government would hold all parties accountable to their commitments, stressing that the agreements must translate into investments, projects, jobs and economic opportunities.
Governor Abiodun described the signing as a defining moment in the economic history of Ogun State and Nigeria’s engagement with the global economy.
Abiodun credited Tinubu with providing the political leadership that had revived the long-standing deep seaport vision for the Ogun coastline, which he said had remained largely unrealised for more than three decades.
“It has taken the foresight, courage and dogged leadership of President Bola Ahmed Tinubu to move it from aspiration to reality,” the governor said.
He commended Oyetola, the NPA and other federal institutions for their support, saying the project demonstrated alignment between the Federal Government’s Renewed Hope Agenda and Ogun’s Building Our Future Together agenda.
Abiodun said the deep seaport formed part of a broader strategy to deepen trade, attract investment, improve connectivity and strengthen Nigeria’s maritime economy.
“Our ambition is not merely to berth ships. We are building a gateway for Ogun and Nigeria’s productive strength to reach Africa and the world,” he said.
The governor said the project would stimulate small and medium-sized enterprises, strengthen supply chains, expand export capacity, attract foreign direct investment and create opportunities across maritime services, logistics, manufacturing and technology.
He also highlighted the Blue Marine Special Economic Zone as a platform for capital, technology, innovation and talent, citing DP World’s Jebel Ali Free Zone as an example of the potential of integrating ports, logistics and special economic zones.
According to him, the development would form part of a wider multimodal infrastructure network incorporating the Gateway International Airport, dry ports, the coastal highway and the deep seaport.
Abiodun assured DP World and other partners that Ogun was ready for business, partnership and delivery, while stressing the importance of host-community participation, environmental sustainability and security.
The signing marks a major step in the revival of Ogun’s long-standing coastal development ambitions and its efforts to leverage its strategic location for industrialisation, logistics and international trade.
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