Tinubu unveils $7bn Ogun Deep Seaport, Special Economic Zone Deal with DP World in Paris
Abdullateef Fowewe
President Bola Tinubu has assured investors of regulatory clarity and policy stability as Ogun State signed memoranda of understanding with global ports operator DP World for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone.
The President spoke at the signing ceremony in Paris, France on Thursday.
This was disclosed in a statement on Thursday by th Special Adviser to the President on Information and Strategy, Bayo Onanuga.
Governor Dapo Abiodun led the Ogun State delegation, which included state commissioners and a host community representative.
Also present were Marine and Blue Economy Minister Adegboyega Oyetola, Nigerian Ports Authority Managing Director Dr Abubakar Dantsoho, DP World Group Chief Executive Officer Yuvraj Narayan, and other officials.
Tinubu described the agreements as bringing together “vision, expertise, capital and execution capacity,” welcoming DP World as one of the world’s leading port and logistics operators.
The proposed Gateway Deep Seaport at Ogun Waterside will feature a four-kilometre berth and an 18-metre draft.
Officials say it will help decongest the Lagos port corridor, ease pressure on Apapa and Tin Can Island ports, and accommodate larger vessels serving modern global trade and the African Continental Free Trade Area market of about 1.4 billion people.
The accompanying Blue Marine Special Economic Zone is planned to span 10,000 hectares.
The agreements envisage an initial investment of more than $7 billion.
At full development, the projects are projected to create more than 50,000 direct jobs and additional indirect opportunities while generating non-oil export earnings.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action,” Tinubu said.
He commended Governor Abiodun for securing the land and structuring the investment framework.
“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,” the President added.
He pledged federal support for road, rail and power connectivity, investment security, and the removal of bureaucratic obstacles, while stressing accountability for all parties’ commitments.
Tinubu linked the projects to the Lagos–Calabar Coastal Highway, noting that the 28-kilometre Ogun section is scheduled for completion before the end of the year.
The announcement forms part of efforts to strengthen Nigeria’s maritime economy and position the country as a regional trade and logistics hub.
