Tinubu unveils $7bn Ogun Deep Seaport, Blue Marine Economic zone investment

President Bola Tinubu has unveiled an investment package of more than $7 billion for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone.

The President spoke in Paris, France, on Thursday during the signing of Memoranda of Understanding between the Ogun State Government and global ports and logistics operator, DP World, for the development of the projects.

The agreements are expected to attract more than $7 billion in initial investment and generate over 50,000 direct jobs when fully developed, alongside additional indirect employment opportunities and increased non-oil export earnings.

Tinubu, in a statement issued by his spokesman, Bayo Onanuga, assured domestic and international investors that the Federal Government would continue to provide regulatory clarity, policy stability and a predictable business environment for long-term investments.

“The agreements before us bring together vision, expertise, capital and execution capacity. I particularly welcome DP World, one of the world’s leading port and logistics operators,” the President said.

He pledged that the Federal Government would provide the necessary regulatory and institutional support to ensure that the projects move from agreements to implementation.

Tinubu said the projects would strengthen Nigeria’s maritime economy, support industrialisation and expand the country’s capacity for manufacturing, logistics and exports.

“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action,” he said.

Gateway Deep Seaport

The proposed Gateway Deep Seaport at Ogun Waterside is planned to feature a four-kilometre berth and an 18-metre draft, allowing it to accommodate larger vessels used in international trade.

The port is expected to provide an alternative gateway for cargo currently passing through the Lagos port corridor and help ease pressure on the Apapa and Tin Can Island ports.

Tinubu said the deeper draft would allow larger vessels to access the facility while strengthening Nigeria’s position as a trade and logistics gateway to markets across the African Continental Free Trade Area.

He said the proposed port would also help reduce logistics bottlenecks and the costs and delays associated with the movement of goods.

10,000-Hectare Economic Zone

The Ogun State Blue Marine Special Economic Zone is planned to cover about 10,000 hectares and will be integrated with the deep seaport.

According to the President, the zone is intended to support manufacturing, processing, logistics and export-oriented activities.

“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,” Tinubu said.

He said the integration of the port and economic zone would allow imported inputs to be transformed into finished products while Nigerian raw materials could be processed for export, supporting the growth of non-oil exports.

Tinubu also said the Federal Government would facilitate road, rail and power connectivity to the projects, while strengthening investment security and maritime security and reducing unnecessary bureaucratic obstacles.

Lagos-Calabar Highway Link

The President identified the Lagos-Calabar Coastal Highway as a key transport link for the emerging industrial and maritime corridor.

He said the 28-kilometre Ogun section of the 700-kilometre highway was scheduled for completion before the end of 2026.

According to Tinubu, the road would improve connectivity between the proposed port, the economic zone, Lagos, the Nigerian hinterland and markets across Africa.

He added that the emerging corridor would also connect with other strategic projects, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

Tinubu commended Ogun State Governor, Dapo Abiodun, for securing the land and structuring the investment framework for the projects.

“I commend Governor Dapo Abiodun and the government and people of Ogun State for securing the land, structuring the investment framework and reducing project risks for global investors,” he said.

Abiodun led the Ogun State delegation at the Paris signing ceremony, which was attended by senior officials from the state government, DP World, the Nigerian Ports Authority and other partners.

Tinubu urged the Ogun State Government and the investors to sustain the momentum generated by the agreements and move quickly towards implementation.

“Nigeria lies at the heart of West African trade. Yet, our strategic advantage has been constrained by port congestion, inadequate draft capacity and logistics bottlenecks that increase the cost of doing business. These projects respond directly to those constraints,” he said.

The agreements mark a major step in the planned development of Ogun State’s maritime and industrial corridor, with the projects expected to expand port capacity, support manufacturing and logistics, and strengthen Nigeria’s access to regional and international markets.

Stay Connected

Follow Very Nigerian

Get the latest Nigerian news, trending stories and breaking updates directly on WhatsApp.

Join Our Channel →