The Ogun State Government and DP World, a leading global ports and logistics operator, have signed Memoranda of Understanding (MoU) to develop the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport. The signing ceremony, held in Paris, France, was witnessed by President Bola Ahmed Tinubu, who led the federal government’s commitment to supporting the project.
The Ogun State delegation was led by Governor Dapo Abiodun and included the Secretary to the State Government, Tokunbo Talabi, alongside Commissioners of Finance, Works, Industry, Trade and Investment, Transport, and a representative of the host community. Also present were 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; Group CEO of DP World, Yuvraj Narayan; Managing Director of SkyKapital, Karim Noujaim; and DP World’s Senior Vice President for Business Development, Sub-Saharan Africa, Mohammed Rashid Ismail.
President Tinubu assured domestic and foreign investors that the Federal Government would provide regulatory clarity, policy stability, and a predictable business environment to support long-term investment. He emphasized that the agreements bring together vision, expertise, capital, and execution capacity. “I particularly welcome DP World… I also acknowledge our financial advisers, Sky Capital, and all the investors and partners whose commitment has brought us to this important stage,” he said.
The President pledged that the government would provide necessary regulatory and institutional support to ensure seamless implementation and hold all parties accountable. He described the agreements as a significant milestone in attracting foreign direct investment, expanding productive capacity, and positioning Nigeria as a major hub for maritime trade, logistics, manufacturing, and exports.
The proposed port at Ogun Waterside, featuring a four-kilometre berth and an 18-metre draft, aims to decongest the Lagos port corridor, ease pressure on Apapa and Tin Can Island ports, and reduce costs and delays. It will accommodate larger, deeper-draft vessels, providing a competitive trade gateway for the African Continental Free Trade Area and a market of approximately 1.4 billion people. The Ogun State Blue Marine Special Economic Zone is proposed to occupy 10,000 hectares.
The projects envisage an initial investment exceeding $7 billion. At full development, they are projected to create over 50,000 direct jobs and numerous indirect opportunities, while generating substantial non-oil export earnings. President Tinubu described the initiative as “economic diversification made tangible” and “Renewed Hope in action,” commending Governor Abiodun for securing land and structuring the investment framework.
The President highlighted the Ogun State Blue Marine Special Economic Zone’s attractiveness to global manufacturers, noting that imported inputs will be transformed into finished goods and Nigerian raw materials processed for export. He stressed that the Gateway Deep Seaport is critical infrastructure to support the zone, stating, “A port moves cargo; a port integrated with a special economic zone helps to build an economy.”
President Tinubu reaffirmed the Federal Government’s commitment to removing bureaucratic obstacles and facilitating investments while respecting laws and regulatory requirements. He urged the Ogun State Government and investors to proceed expeditiously with implementation.
He noted that Nigeria’s strategic advantage has been constrained by port congestion, inadequate draft capacity, and logistics bottlenecks. The projects, he said, respond directly to these constraints and represent “nation-building in its most practical form.” The Lagos–Calabar Coastal Highway, particularly the 28-kilometre Ogun State section scheduled for completion by year-end, is central to the corridor’s commercial viability. The projects will also anchor a strategic corridor near the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.